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Asia - Institutions
Asia-Pacific Economic Cooperation APEC
Asia-Pacific Economic Cooperation, or 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
more than a third of the world's population (2.6 billion people),
approximately 60% of world GDP (US$19, 254 billion) and about 47% of world
trade. It also proudly represents the most economically dynamic region in
the world having generated nearly 70% of global economic growth in its first
10 years.
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.
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