About APEC

• APEC is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. 
• APEC’s aim is to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
• APEC operates as a cooperative, multilateral economic and trade forum.
• The APEC Secretariat is based in Singapore and operates as the core support mechanism for the APEC process.

Membership of APEC

• • There are 21 member economies at present. It includes Australia; Brunei Darussalam; Canada; Chile; People’s Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.

• India is a non-member.

Why in News?

• A visual leaders’ meeting of the Asia-Pacific Economic Cooperation (APEC) was held recently.

Reference:

1. https://www.thehindu.com/news/international/in-apec-speech-xi-touts-chinas-economy-as-base-of-free-trade/article33134975.ece