The Asia-Pacific Economic Cooperation (APEC) forum was established in 1989. Its primary purpose is to facilitate economic growth and prosperity in the region, with the vision of creating a seamless regional economy. APEC pursues these objectives through trade and investment liberalisation, business facilitation, and economic and technical cooperation.
APEC aims to strengthen regional economic integration by removing impediments to trade and investment “at the border”, enhancing supply chain connectivity "across the border" and improving the business environment "behind the border". It endeavours to improve the operating environment for business by reducing the cost of cross-border trade, improving access to trade information and simplifying regulatory and administrative processes. APEC also assists member economies build the institutional capacity to implement and take advantage of the benefits of trade and investment reform. APEC supports the multilateral trade negotiations underway in the WTO, and complements the goals of the G-20 Framework for Strong, Sustainable and Balanced Growth in the Asia-Pacific Region.
Private sector engagement is central to APEC's success. The APEC Business Advisory Council (ABAC), established in 1995, represents the interests of business in APEC. ABAC is composed of up to three members from each of the 21 member economies, with business representatives appointed by APEC Leaders. The annual APEC CEO Summit and regular Industry Dialogues also provide opportunities for regional business leaders to interact with APEC and address key issues affecting business in the region.
APEC operates on the basis of non-binding commitments and open dialogue. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.
The APEC Secretariat is based in Singapore. It provides coordination, technical and advisory support as well as information management, communications and public outreach services. The Secretariat is headed by a fixed-term Executive Director, appointed for a period of three years. The Secretariat is also home to the APEC Policy Support Unit (PSU). The PSU assists APEC's deliberations by providing research, analysis and policy support. More information on APEC, including its structure, committees and activities, can be found on APEC's official website.
APEC has 21 member economies:
Indonesia hosted APEC in 2013. China, the Philippines and Peru will host APEC in 2014, 2015 and 2016 respectively.
Australia in APEC
Australia was a founding member of the APEC forum in 1989 and has been active in helping APEC achieve its current status. Australia has helped advance APEC's core work streams of regional economic integration, structural reform and targeted capacity building through its involvement across more than 30 APEC forums (including committees, working groups and sub-forums). Australia played host to APEC in 2007.
APEC makes an important contribution to the promotion of open trade and investment, economic development and prosperity in the Asia-Pacific and Australia has benefited from APEC's dynamism. Significant progress has been made by Australia and the region towards achieving the Bogor Goals of free and open trade and investment in the Asia-Pacific by 2020. APEC's 21 member economies account for over half of global GDP and are home to more than 2.7 billion people. APEC partners account for over two-thirds of Australia's total trade in goods and services.
Publication: The APEC Region, Trade and Investment
Australia supports economic cooperation and capacity-building activities for the benefit of APEC developing members. In addition to Australian led activities, the Australian aid program contributes to APEC Secretariat managed project funding, targeting supply chain connectivity, structural reform and other high APEC priorities. This work is complemented by support for APEC economic policy research and analysis and project management reforms within the APEC Secretariat to maximise the effectiveness of APEC activities.
Publication: Aid Program Performance Report 2013-14 East Asia Regional Program
Upcoming APEC meetings
||Type of meeting
|6-21 Aug 2014
||SOM 3 and related Meetings
|5 Sep 2014
||Small and Medium Enterprises Ministerial
|19-21 Oct 2014
||Senior Finance Officials and Finance and CentralBank Deputies
|21-22 Oct 2014
||Finance Minister’s Meeting
5-11 Nov 2014
||APEC Economic Leaders‘ Week
- 5-6 Nov 2014: Concluding Senior Officials Meeting
- 7-8 Nov 2014: APEC Ministers Meeting
- 8-10 Nov 2014: APEC CEO Summit
- 10-11 Nov 2014: APEC Economic Leaders meeting
A full calendar of APEC events is available on APEC's official website.
Declarations and statements by APEC leaders and ministers
- APEC Meeting of Ministers Responsible for Trade Statement, Qingdao, China, 17-18 May 2014
- Statement on Supporting the Multilateral Trading System, Qingdao, China, 17 May 2014
- APEC Economic Leaders' Meeting Declaration and annexes, Bali, Indonesia, 8 October 2013
- Supporting the Multilateral Trading System and the 9th Ministerial Conference of the World Trade Organisation, Bali, Indonesia, 2-8 October 2013
- APEC Ministerial Meeting Statement and annexes, Bali, Indonesia, 5 October 2013
- APEC Finance Ministers’ Meeting, Nusa Dua, Bali, Indonesia, 20 September 2013
- APEC Small and Medium Enterprises Ministerial Meeting, Nusa Dua, Bali, Indonesia, 7 September 2013
- APEC Transportation Ministerial Meeting, Tokyo, Japan, 5 September 2013
- APEC Ministerial Meeting on Small and Medium Enterprise (SME) and Women, Nusa Dua, Bali, Indonesia, 7 September 2013
- APEC Meeting of Ministers Responsible for Forestry, Cusco, Peru, 15 August 2013
- Meeting of APEC Ministers Responsible for Trade, Surabaya, Indonesia, 20 - 21 April 2013
Media releases by the Minister for Foreign Affairs and Minister for Trade and Investment
APEC Business Advisory Council