Our mission, vision and history

APEC is the premier Asia-Pacific economic forum. Our primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region.

We are united in our drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favorable and sustainable business environment. Our initiatives turn policy goals into concrete results and agreements into tangible benefits.

Our vision

In 2020, APEC Economic Leaders adopted the APEC Putrajaya Vision 2040, which sets the forum’s long-term direction for regional cooperation.

“We proclaim the APEC Putrajaya Vision 2040, a new vision that primarily charts the future of our region. Our Vision is an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations. We task our Senior Officials to complete a comprehensive implementation plan for our consideration in 2021.” – 2020 Leaders’ Declaration. 

The Vision focuses on three economic drivers:

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History

The idea of APEC was firstly publicly broached by former prime minister of Australia Bob Hawke during a speech in Seoul, Korea, on 31 January 1989. Ten months later, 12 Asia-Pacific economies met in Canberra to establish APEC. The founding members were Australia; Brunei Darussalam; Canada; Indonesia; Japan; Korea; Malaysia; New Zealand; the Philippines; Singapore; Thailand; and the United States.

China; Hong Kong, China; and Chinese Taipei joined in 1991. Mexico and Papua New Guinea followed in 1993. Chile acceded in 1994. And in 1998, Peru; Russia; and Viet Nam joined, taking the full membership to 21.

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Between 1989 and 1992, APEC met as an informal senior official- and ministerial-level dialogue. In 1993, former US President Bill Clinton established the practice of an annual APEC Economic Leaders' Meeting to provide greater strategic vision and direction for cooperation in the region.