Asia-Pacific Economic Cooperation (APEC)

About Asia-Pacific Economic Cooperation (APEC)

• The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum to promote free trade, economic growth, and regional integration across the Asia-Pacific.
• It is the only international intergovernmental grouping in the world committed to reducing barriers to trade and investment without requiring its members to enter into legally binding obligations.
• Establish in: It was established in 1989  with 12 members.
• Member economies: APEC has 21 member economies.
  • The term ‘economies’ is used instead of ‘countries’ because APEC mainly focuses on trade and economic cooperation, and its members participate as economic entities. 
  • APEC’s members are: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.
  • India is not a member of APEC, but has attended APEC meetings as “observer” in 2011. ( India had expressed interest in joining APEC in 1991 but the group decided to stop accepting new members in 1997.)
  • Observer forums: ASEAN Secretariat, Pacific Economic Cooperation Council (PECC) and Pacific Islands Forum (PIF) Secretariat are three official observers that participate in the forum’s activities and contribute to regional cooperation.
• Headquarters: Its is located in Singapore.
• How it operates: It operates on the basis of voluntary cooperation and consensus, ensuring that all members have an equal say in decision-making through dialogue.
  • Its decisions are non-binding.
• Host economy: Every year one of the 21 APEC member economies plays host to APEC meetings and serves as the APEC Chair.
  • 2026 Summit: The 33rd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting will be held in Shenzhen, China on November 18–19, 2026.
    • Theme: “Building an Asia-Pacific Community to Prosper Together”
• Significance: APEC’s 21 member economies account for over 60% of global GDP, more than 50% of world trade, and about 38% of the global population, making it a pivotal forum for regional stability and growth.