Asian Pacific Economic Cooperation (APEC)

The Asia-Pacific Economic Cooperation (APEC) is a forum founded in 1989 to promote economic growth, cooperation, and free trade among 21 member economies around the Pacific Rim. It aims to facilitate economic development by reducing trade barriers, encouraging investment, and sharing knowledge. APEC members work together through meetings and initiatives to improve prosperity and stability in the region. The organization emphasizes collaboration rather than formal treaties, focusing on mutual benefit and sustainable growth to enhance economic integration across diverse economies.