Asia-Pacific Economic Cooperation

The Asia-Pacific Economic Cooperation forum is the regional economic organisation linking 21 economies bordering the Pacific Ocean. APEC pointedly uses the term "member economies" rather than "member states" — a formulation that allows Hong Kong, Chinese Taipei, and other non-sovereign entities to participate without sovereignty disputes.

At a glance

• Founded: 1989 (Founded at the inaugural ministerial meeting in Canberra, Australia, 6–7 November 1989)
• Headquarters: Singapore (Secretariat)
• Official languages: English
• Website: www.apec.org

Mission

APEC's declared aim is to promote free trade and investment across the Asia-Pacific. Decision-making is by consensus and commitments are non-binding — the bloc operates on what it calls "concerted unilateralism", where members announce voluntary liberalisation steps rather than negotiating binding agreements.

Structure

The Annual Economic Leaders' Meeting is the highest-level event. Below this, ministerial meetings, senior officials' meetings, and committees coordinate work across trade, finance, transport, energy, and other sectors. The Secretariat in Singapore handles administration and is led by an Executive Director with a three-year term, traditionally rotating among member economies.

Member states

APEC has 19 member states. Membership current as of 2024-01.

• Australia
• Brunei
• Canada
• Chile
• China
• Indonesia
• Japan
• Malaysia
• Mexico
• New Zealand
• Papua New Guinea
• Peru
• Philippines
• Russia
• Singapore
• South Korea
• Thailand
• United States
• Vietnam

Key facts

• APEC's 21 "member economies" include 19 sovereign states plus Hong Kong (joined 1991 as "Hong Kong, China") and Chinese Taipei (joined 1991) — the formulation that allows participation without recognition disputes.
• The 1994 Bogor Goals committed advanced members to free and open trade by 2010 and developing members by 2020 — both deadlines passed without full implementation.
• APEC summits attract significant attention because they routinely bring together leaders who do not meet bilaterally elsewhere — Xi Jinping and Joe Biden held bilateral talks at the 2023 San Francisco summit, their first in over a year.
• APEC is unusual in including Russia (joined 1998) — geographically Pacific via Vladivostok — alongside the major Western economies.
• India has applied for membership repeatedly but has been blocked by various members; observers' status was discussed but not granted.

Historic milestones