Apec and its members
The Asia-Pacific Economic Cooperation (Apec) is an inter-governmental forum that promotes free trade across the Asia-Pacific region. Apec was founded in 1989 by 12 members, which included Thailand. Now, there are 21 members.
The criterion for membership, however, is that each member must be an independent economic entity, rather than a sovereign state.
As a result, Apec uses the term member economies rather than member countries to refer to its members. One result of this criterion is that membership of the forum includes Taiwan (officially the Republic of China, participating under the name "Chinese Taipei") alongside People's Republic of China, as well as Hong Kong, which entered Apec as a British colony but it is now a Special Administrative Region of the People's Republic of China.
Apec has a combined population of more than 2.8 billion people.
The members together make up more than 60 per cent of the world gross domestic product.
Apec's share of global trade is more than 47 per cent.
Headquartered in Singapore, Apec is recognized as one of the highest-level multilateral blocs and oldest forums in the Asia-Pacific region and exerts a significant global influence.
The members will participate in the annual Apec Economic Leaders’ Meeting in Bangkok on November 18-19.
