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APEC {Asian Pacific

Economic Cooperation}
 About APEC :
 Founded in the year 1989
 It has 21 member economies
 Constitute 41% of population worldwide
 Accounts for 56% of world’s GDP
 Approximately 49% of world trade
Why it was formed
It was formed to promote and facilitate cooperation, trade,
economic growth, and investment between Asia Pacific
nations is known as APEC
It is an intergovernmental forum, which operates on the
basis of non binding commitment and open dialog
No treaty obligations
Members of APEC
Objectives and aims
Decrease number of obstacles in trade and also reduce
tariffs across APEC nations
It gave a boost to export activities
Set it’s eye on achieving ‘Bogor goals’ by the year 2010
Contributed for 70% of the growth in the
economy world wide
All APEC member nations surpassed the other
economies of the world
When Asia was going through financial crisis,
APEC has managed the streamline economies
of the member nations