What does the APEC organization do?
The Asia-Pacific Economic Cooperation, or APEC, is the leading forum in the Asia-Pacific to facilitate trade and investment, economic growth, and regional cooperation.
What is APEC stand for?
Asia-Pacific Economic Cooperation
What type of organization is APEC?
APEC operates as a cooperative, multilateral economic and trade forum. Member economies participate on the basis of open dialogue and respect for views of all participants. In APEC, all economies have an equal say and decision-making is reached by consensus. There are no binding commitments or treaty obligations.
Is APEC rich?
Its 21 member economies are home to around 2.9 billion people and represent approximately 60 percent of world GDP and 48 percent of world trade in 2018. As a result of APEC's work, growth has soared in the region, with real GDP increasing from USD 19 trillion in 1989 to USD 46.9 trillion in 2018.