The Asia-Pacific Economic Cooperation, commonly known as APEC, is an economic forum designed to leverage the growing interdependence of Asia-Pacific economies. It was established to manage the advent of regional trade blocs that have been emerging in different parts of the world.
This topic is particularly significant for those preparing for the IAS exam .
APEC is a unique multilateral economic and trade forum. It is the only international intergovernmental grouping in the world committed to improving the free flow of trade and investment across its member economies, without forcing its members into legally binding obligations.
APEC is composed of 21 member countries, each contributing to the region's economic growth.
The APEC Business Advisory Council concentrates on the following key areas:
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