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"Meeting New challenges in the New Century: |
.Achieving Common Prosperity through Participation and Cooperation" |
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| Asia Pacific Economic Cooperation (APEC)
was established in 1989 in response to the growing interdependence among Asia-Pacific
economies. From its modest beginning as an informal Ministerial-level dialogue group with
12 members, APEC has become a formidable regional forum, especially with the introduction
of the annual informal Economic Leaders’ Meeting in 1993. Its goal is to advance
economic dynamism and sense of community within the Asia-Pacific region. Today there are 21 member economies comprising some 2.5 billion people, a combined gross domestic product of over US$18 trillion in 1999 and over 47 percent of world trade. APEC has established itself as the primary regional vehicle for promoting open trade and practical economic and technical cooperation. APEC member economies include: Australia, Brunei, Canada, Chile, China, Hongkong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam. (In 1997, at Vancouver, Leaders agreed on a ten-year moratorium for accepting new members.) |
