Asia-Pacific Economic Cooperation (APEC) is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.


APEC has 21 members - referred to as "Member Economies" - which account for approximately 41% of the world's population, approximately 54.2% of world GDP and about 44% of world trade.


APEC's 21 Member Economies are Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.


APEC member economies which are also members of ASEAN include: Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand, as well as the United States.


APEC's vision of regional economic cooperation is being realised through the 'Bogor Goals' of free and open trade and investment in the Asia-Pacific by 2010 for industrialised economies and 2020 for developing economies, adopted by APEC Leaders at the 1994 APEC meeting held in Bogor, Indonesia.

APEC brings together leaders, ministers, senior officials and business representatives, who meet regularly to drive the APEC agenda forward and implement policies and projects across three key areas, known as APEC's Three Pillars:

• Trade and investment liberalisation
• Business facilitation
• Economic and technical cooperation

Since the first APEC Economic Leaders Meeting in 1993, the role of APEC host economy has rotated each year between member economies. Singapore is the host of the APEC meetings in 2009. Japan will host in 2010 and the United States in 2011.

As Host, Singapore is responsible for organizing a series of key APEC meetings and related events throughout the year, including the APEC Finance Ministers' Meeting, APEC Trade Ministers’ Meeting, APEC CEO Summit and APEC Leaders Summit. Singapore also undertakes the important task of agenda-setting and coordination amongst the APEC member economies, as well as deciding on policy direction, theme for the year and chairing the various meetings.

The APEC Leaders Summit will take place from November 14-15, 2009 in Singapore.