Asia-Pacific Economic Cooperation Pact

(redirected from Apec)
Also found in: Dictionary, Acronyms, Encyclopedia.
Related to Apec: ASEAN, OPEC

Asia-Pacific Economic Cooperation Pact (APEC)

A loose economic affiliation of Southeast Asian and Far Eastern nations. The most prominent members are China, Japan, and Korea.

Asia-Pacific Economic Cooperation Pact

An organization promoting trade and economic liberalization among countries with borders along the Pacific Ocean. It has 21 members including Australia, Canada, China, Chile, Japan, Russia, South Korea, and the United States. Heads of government of member nations meet annually to discuss trade and economic issues. It was established in 1989 and is headquartered in Singapore. See also: ASEAN, Free Trade Area of the Asia-Pacific.
References in periodicals archive ?
She also shared the outcomes of the Economic Leaders Meeting, particularly the Philippines contributions to the APEC process.
President Benigno Aquino III will also hold 11 formal bilateral meetings on the sidelines of the APEC summit, Paynor said.
Rapid economic growth in APEC has led to an increase in consumption of plastics, with waste flowing into waterways and ultimately into the ocean, said Nick Mallos of Ocean Conservancy.
Topics tackled by Apec officials include business facilitation, regional economic integration, trade and investment liberalisation, participation of small and medium enterprises in regional and global markers in order to build sustainable and resilient communities in the Asia Pacific region, said Foreign Affairs Spokesman Charles Jose.
Experts say APEC members are important to the world economy as well as to central Asia.
The APEC leaders also issued a separate statement recognizing that the Doha Round trade liberalization talks under the WTO involving over 150 members are "at an impasse," while expressing support for the WTO and the multilateral trading system.
The lowering of tariffs among APEC economies and globalization of production has increased the importance of strengthening connectivity in the region," he explained.
Hu, in his speech, emphasized China had always placed high importance on the role of APEC and actively participated in its cooperation in various fields and at different levels.
According to the statement, APEC 2011 will focus on three themes, which are
Although creating an FTAAP has been an aspirational goal for APEC since 2006, APEC leaders have agreed that now is the time to translate this into a more concrete vision.
Leaders of the 14 APEC economies speaking at the event pledged support for free and fair trade, anti-protectionism and continued co-operation among the APEC economies.
Prime Minister John Howard has described the APEC Summit as successful and said the Summit had been held in a very positive environment.