Asia Pacific Economic Cooperation (APEC) is a regional forum of economies around the Pacific Ocean that work together on trade, investment and economic growth. Its annual leaders’ meeting often makes global headlines. Here is a simple guide.
How it began
APEC was set up in 1989 in Canberra, Australia, with 12 founding members. It started as a meeting of ministers and held its first leaders’ meeting in 1993 in the United States.
Members
APEC has 21 members, called member economies rather than countries, because some, like Hong Kong, China and Chinese Taipei, are not treated as sovereign states in this forum. Members include:
- The United States, Canada and Mexico.
- China, Japan and South Korea.
- Australia and New Zealand.
- Russia.
- Southeast Asian economies like Indonesia, Thailand, Vietnam, Malaysia, Singapore and the Philippines.
- Chile and Peru in South America.
- Papua New Guinea and Brunei.
Together, they account for a large share of world population, trade and economic output.
How APEC works
- Decisions are made by consensus and are non binding. Members commit voluntarily.
- It works through annual ministerial meetings, senior officials’ meetings and working groups.
- The host economy changes every year and sets priorities.
- The APEC Secretariat is based in Singapore.
Also Read: What Is BRICS? Members, New Development Bank and India’s Role as Chair in 2026 | What Is ASEAN? Members, How It Works and Why It Matters for India’s Act East Policy
Goals
- The Bogor Goals of 1994 aimed at free and open trade and investment in the region.
- The Putrajaya Vision 2040, adopted in 2020, sets a vision of an open, dynamic, resilient and peaceful Asia Pacific community.
APEC 2026
China is the APEC host in 2026, with the leaders’ meeting planned in Shenzhen in November 2026. Dates and outcomes should be checked on the official APEC website, as plans can change.
India and APEC
India applied to join APEC in the 1990s. In 1997, APEC placed a ten year moratorium on new members, and even after it ended, no new members have been admitted. Some members have supported India’s entry, but there is no consensus. India takes part in other Asia Pacific groupings, such as the East Asia Summit, and has trade agreements with ASEAN, Japan and South Korea.
Why it matters for India
APEC economies are major trading partners of India. Decisions on supply chains, digital trade and standards in APEC can affect Indian exporters even though India is not a member.
Bottom line
APEC is a key forum for Pacific Rim economies to cooperate on trade and growth. India is outside it for now but deeply linked to its members through trade and other groupings.
Source / स्रोत: Asia Pacific Economic Cooperation, Ministry of External Affairs, Ministry of Commerce and Industry
