APEC

    Asia-Pacific Economic Co-operation (APEC) is a forum of Asia-Pacific economies formed in 1989 to increase effective economic cooperation between the member economies. The criterion for membership is that the member is a separate economy rather than a country. The APEC secretariat is at Singapore. The aim of the forum is to facilitate free trade across the Asia-pacific regional countries increasing the economic interdependence & sustainable growth.

History

  Australian prime minister Bob Hawke called for the more effective co-operation among the nations situated on the region of Pacific Rim in 1989. Subsequently the delegates from 12 regional countries met at Canberra, Australia to root the organization.

Members

 Currently there are 21 members in the forum. They are- Australia, Brunei, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore Thailand, US, Taiwan, Hong Kong, China, Mexico, Papua New Guinea, Chile, Peru, Russia & Vietnam.