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APEC

Overview

The Asia-Pacific Economic Cooperation (APEC) forum was established in 1989 and has become the pre-eminent economic forum in the Asia-Pacific region. Its primary purpose is to facilitate economic growth and prosperity in the region, with the vision of creating a seamless regional economy. APEC pursues these objectives through trade and investment liberalization, business facilitation and economic and technical cooperation.

APEC aims to strengthen regional economic integration by removing impediments to trade and investment “at the border”, enhancing supply chain connectivity "across the border" and improving the business environment "behind the border". It endeavours to improve the operating environment for business by reducing the cost of cross-border trade, improving access to trade information and simplifying regulatory and administrative processes. APEC also helps member economies build the institutional capacity to implement and take advantage of the benefits of trade and investment reform. APEC supports the multilateral trade negotiations underway in the World Trade Organization and complements the goals of the G-20 Framework for Strong, Sustainable and Balanced Growth in the Asia-Pacific Region.

Private-sector engagement is central to APEC's success. The APEC Business Advisory Council (ABAC), established in 1995, represents the interests of business in APEC. ABAC is composed of up to three members from each of the 21 member economies, with business representatives appointed by APEC leaders. The annual APEC CEO Summit and regular industry dialogues also provide opportunities for regional business leaders to interact with APEC leaders and address key issues affecting business in the region.

APEC operates on the basis of non-binding commitments and open dialogue. Decisions made within APEC are reached by consensus, and commitments are undertaken on a voluntary basis.

The APEC Secretariat is based in Singapore. It provides coordination and technical and advisory support as well as information management, communications and public outreach services. The Secretariat is headed by a fixed-term Executive Director who is appointed for a period of three years. The Secretariat is also home to the APEC Policy Support Unit (PSU). The PSU assists APEC's deliberations by providing research, analysis and policy support. More information on APEC, including its structure, committees and activities, can be found on APEC's official website.

Canada in APEC

Canada was a founding member of the APEC forum in 1989 and has been active in helping APEC achieve its current status. Canada has helped advance APEC's core work streams of regional economic integration through its involvement across more than 30 APEC forums, including committees, working groups and sub-forums. Canada hosted APEC in 1997, culminating in the APEC Economic Leaders Meeting in Vancouver, British Columbia.

APEC's 21 member economies account for over half of global gross domestic product and are home to more than 2.7 billion people. APEC partners account for over 80% of Canada's total trade in merchandise. Total two-way trade between Canada and APEC economies grew from $374.6 billion in 1994 to $654.4 billion in 2010, an average annual growth rate of 3.5%. Over the same period, investment in Canada by APEC economies rose by 7.1% per year to reach $343.3 billion in 2010, with outward Canadian investment in the Asia-Pacific region growing by an average of 7.9% per year to peak at $321.8 billion in 2010.

APEC 2012

As host of the Asia-Pacific Economic Cooperation (APEC) in 2012, the Russian Federation is holding several meetings, including APEC ministerial meetings and the APEC Economic Leaders Meeting. APEC meetings provide opportunities to engage on a wide range of issues that further enhance economic growth and prosperity for the Asia-Pacific region, such as energy, business and food security.

This year the Russian Federation is aiming to facilitate APEC’s collective efforts to increase sustainability and the pace of development. The theme for 2012 is “Integrate to Grow, Innovate to Prosper.” APEC will seek to achieve tangible results based on the following priorities:

Expanding trade and investment liberalization and expanding regional economic integration
Strengthening food security
Establishing reliable supply chains
Fostering innovative growth

A full calendar of APEC events is available on APEC's official website.