Asia Pacific Economic Cooperation
APEC (Asia Pacific Economic Forum) is a forum which supports economic growth and prosperity in the Asia Pacific Region by promoting free trade and economic cooperation among its 12 member economies. Ambassador Muhamad Noor Yacob is the current Executive Director of APEC and its Secretariat is located in Singapore.[1]
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| Type: | Economic Forum |
| Founded: | 1989 |
| Headquarters: | Singapore |
| Country: | Singapore |
| Website: | www.apec.org |
| Key People | |
| Ambassador Muhamad Noor Yacob, Executive Director | |
History
APEC was established in 1989 by 12 Asia Pacific economies during a meeting in Canberra, Australia. The 12 founding members of APEC include: Australia, Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States. In 1991, China, Hongkong and Taipei joined the organization followed by Mexico and Papua New Guinea in 1993, Chile in 1994 while Peru, Russia and Vietnam finally joined APEC in 1998. APEC meetings started as informal senior official and Ministerial level dialogue however, former U.S, President Bill Clinton established the annual APEC Economic Leaders Meeting in 1993. The membership of the organization is under moratorium until 2010.[2]