Published Aug 1, 2023 The Asia-Pacific Economic Cooperation (APEC) is a regional intergovernmental forum that aims to promote economic growth and cooperation in the Asia-Pacific region. It was founded in 1989 and consists of 21 member economies including Australia, Canada, China, Japan, South Korea, the United States, and many other countries in the Asia-Pacific region. APEC has facilitated economic growth and cooperation in the region by promoting trade liberalization and reducing trade barriers. For example, in 1994, APEC established the Bogor Goals, which aimed to achieve free and open trade and investment in the Asia-Pacific region by 2020 for developed economies, and by 2025 for developing economies. Additionally, APEC has launched initiatives and programs to support small and medium-sized enterprises, enhance regional economic integration, and promote sustainable development. Moreover, APEC has served as a venue for leaders and policymakers to discuss key economic issues and challenges facing the region. For example, in 2020, APEC leaders discussed the impact of the COVID-19 pandemic on the global economy and ways to promote economic recovery and resilience in the region. APEC is an important economic forum in the Asia-Pacific region that aims to promote economic growth, trade, and investment. It has played a significant role in reducing trade barriers and promoting economic integration in the region. By promoting trade liberalization and reducing trade barriers, APEC has created new opportunities for businesses to expand and export their products and services to other economies in the region. Moreover, APEC provides a platform for leaders and policymakers to discuss key economic issues and challenges facing the region and find solutions to promote economic growth and stability.Definition of Asia-Pacific Economic Cooperation (APEC)
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Why APEC Matters
Macroeconomics