Definition
Asia-Pacific Economic Cooperation (APEC) was formed in 1989 in response to the growing interdependence among Asia-Pacific economies. Begun as an informal dialogue group with limited participation, APEC has since become the primary regional vehicle for promoting open trade and practical economic cooperation. Its goal is to advance Asia-Pacific economic dynamism and sense of community. The Asia-Pacific is experiencing the most striking economic growth in the world. It is a major contributor to global prosperity and stability. Today, APEC includes all the major economies of the region and the most dynamic, fastest growing economies in the world. APEC's 18 member economies had a combined Gross Domestic Product of over US$13 trillion in 1995, approximately 55 percent of total world income and 46 percent of global trade.
APEC HomepageBreakdown of trade among members of APEC - Graph displaying each member country's percentage of total APEC trading volume.
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