More than ever, APEC must continue to uphold its leading and pioneering role in creating new drivers to build the Asia-Pacific into a region of peace, stability and dynamic, sustainable and inclusive development. Vietnam therefore proposes “Creating New Dynamism, Fostering a Shared Future” as the overarching theme for APEC 2017."
The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC’s 21 members aim 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: Imagine the Possibilities
APEC ensures that goods, services, investment and people move easily across borders. Members facilitate this trade through faster customs procedures at borders; more favourable business climates behind the border; and aligning regulations and standards across the region.
APEC works to help all residents of the Asia-Pacific participate in the growing economy. For example, APEC projects provide digital skills training for rural communities and help indigenous women export their products abroad.
Recognising the impacts of climate change, APEC members also implement initiatives to increase energy efficiency and promote sustainable management of forest and marine resources.
The forum adapts to allow members to deal with important new challenges to the region’s economic well-being. This includes ensuring disaster resilience, planning for pandemics, and addressing terrorism.
APEC’s 21 member economies are ★ Australia ★ Brunei ★ Canada ★ Chile ★ China ★ Hong Kong, China ★ Indonesia ★ Japan ★ Republic of Korea ★ Malaysia ★ Mexico ★ New Zealand ★ Papua New Guinea ★ Peru ★ Philippines ★ Russia ★ Singapore ★ Chinese Taipei ★ Thailand ★ United States ★ Vietnam
APEC’s 21 member economies are Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; the Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; the Philippines; Russia; Singapore; Chinese Taipei; Thailand; the United States and Vietnam.
APEC in charts
Share of global population
The APEC region accounted for 39% of the world’s population in 2015. China had the largest share with 19% of the world’s population, followed by the United States with 4% and Indonesia with 3%.
Share of global GDP
Two APEC economies, the United States and China, accounted for 39% of the world’s total nominal GDP in 2015. Overall, APEC economies, valued at US$43 trillion, accounted for 59% of the world’s nominal GDP.
Share of total world trade
The APEC region’s trade in merchandise goods and commercial services reached US$20 trillion in 2015, which was almost half (48%) of the world’s total trade. China, Japan and the United States accounted for 26% of global trade.
GDP, GDP per capita and growth rate (2011-2015)
Data source: StatsAPEC
Legend: AUS: Australia, BRN: Brunei, CAN: Canada, CHL: Chile, CHN: China, HKG: Hong Kong, IDN: Indonesia, JPN: Japan, KOR: Republic of Korea, MYS: Malaysia, MEX: Mexico, NZL: New Zealand, PNG: Papua New Guinea, PER: Peru, PHL: Philippines, RUS: Russia, SGP: Singapore, TWN: Chinese Taipei, THA: Thailand, USA: United States, VNM: Vietnam
Note: GDP and GDP per capita are constant 2010 US$ (in millions), 2015 data for Papua New Guinea is unavailable, Chinese Taipei's data is current US$
A brief history of APEC from its inception until present
APEC begins in Canberra as an informal Ministerial-level dialogue group with 12 members.
APEC Economic Leaders meet for the first time, on Blake Island, Washington, and outline APEC's vision, "stability, security and prosperity for our peoples."
APEC sets the Bogor Goals of "free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies."
APEC adopts the Osaka Action Agenda (OAA) which provides a framework for meeting the Bogor Goals through trade and investment liberalisation, business facilitation and sectoral activities.
The Manila Action Plan for APEC (MAPA) is adopted, outlining the trade and investment liberalisation and facilitation measures to reach the Bogor Goals.
APEC endorses a proposal for Early Voluntary Sectoral Liberalisation (EVSL) in 15 sectors and decides that Individual Action Plans should be updated annually.
APEC agrees on the first nine sectors for EVSL and seeks an EVSL agreement with non-APEC members at the World Trade Organisation.
APEC commits to paperless trading by 2005 in developed economies and 2010 in developing economies.
APEC establishes an electronic Individual Action Plan (e-IAP) system, providing IAPs online and commits to the Action Plan for the New Economy, which, amongst other objectives, aims to triple Internet access throughout APEC region by 2005.
APEC adopts the Shanghai Accord, which focuses on Broadening the APEC Vision, Clarifying the Roadmap to Bogor and Strengthening the Implementation Mechanism.
APEC adopts a Trade Facilitation Action Plan, Policies on Trade and the Digital Economy and Transparency Standards.
APEC agrees to re-energise the WTO Doha Development Agenda negotiations and stresses the complementary aims of bilateral and regional trade agreements, the Bogor Goals and the multilateral trading system under the WTO.
APEC issues a strong statement of support for progress in the WTO Doha Development Agenda and sets a target date for achieving a breakthrough in negotiations: December 2005, the convening of the Sixth WTO Ministerial Conference.
APEC adopts the Busan Roadmap, completes the Mid-term Stocktake which has found that APEC is well on its way to meeting the Bogor Goals and the APEC Privacy Framework.
APEC economic leaders endorsed the Hanoi Action Plan which identifies specific actions and milestones to implement the Bogor Goals and support capacity-building measures to help APEC economies.
For the first time, APEC member economies issue a Declaration on Climate Change, Energy Security and Clean Development outlining future action in support of a new international climate change arrangement.
APEC focused on the social dimensions of trade and on reducing the gap between developing and developed members, in accordance with the 2008 theme, "A New Commitment to Asia-Pacific Development".
APEC resolves to pursue balanced, inclusive and sustainable growth, while leaders agree to extend their standstill commitment on protectionism until 2010.
APEC leaders issue the Yokohama Vision to provide a roadmap for members to realize an economically-integrated, robust and secure APEC community.
APEC leaders issue the Honolulu Declaration in which they commit to taking concrete steps toward a seamless regional economy; addressing shared green growth objectives; and advancing regulatory cooperation and convergence.
APEC economies endorse a ground-breaking APEC List of Environmental Goods that directly and positively contribute to green growth and sustainable development objectives.
APEC economies provide the push needed to conclude the "Bali Package" at the 9th World Trade Organisation Ministerial Conference to boost global trade.
APEC leaders commit to taking a concrete step towards greater regional economic integration by endorsing a roadmap to translate the vision of the Free Trade Area of the Asia-Pacific (FTAAP) into a reality.
APEC leaders united behind the opportunity to build inclusive economies in a bid to make economic growth felt broadly by more sectors in society.
APEC leaders reaffirmed the member economies’ confidence in international trade as a mechanism for achieving positive economic and social change.
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Largest city: Sydney
Population: 23,401,892 (2016 census)
GDP: US$1.257 trillion (2016 estimate)
GDP per capita: US$51,593 (2016 estimate)
Capital and largest city: Bandar Seri Begawan
Population: 417,200 (2015)
GDP: US$13.002 billion (2015 estimate)
GDP per capita: US$30,933 (2015 estimate)
Largest city: Toronto
Population: 35,151,728 (2016 census)
GDP: US$1.529 trillion (2016 estimate)
GDP per capita: US$40,409 (2016 estimate)
Capital and largest city: Santiago
Population: 18,006,407 (2016 estimate)
GDP: US$251.220 billion (2017 estimate)
GDP per capita: US$13,663 (2017 estimate)
Largest city: Shanghai
Population: 1,373,541,278 (2016 estimate)
GDP: US$11.8 trillion (2017 estimate)
GDP per capita: US$8,481 (2017 estimate)
Population: 7,374,900 (2016 estimate)
GDP: US$320.668 billion (2016 estimate)
GDP per capita: US$43,528 (2016 estimate)
Capital and largest city: Jakarta
Population: 263.51 million (2017 estimate)
GDP: US$1.020 trillion (2017 estimate)
GDP per capita: US$3,895 (2017 estimate)
Capital and largest city: Tokyo
Population: 126,740,000 (2017 census)
GDP: US$4.841 trillion (2017 estimate)
GDP per capita: US$38,281 (2017 estimate)
REPUBLIC OF KOREA
Capital and largest city: Seoul
Population: 51,446,201 (2017 estimate)
GDP: US$1,498 trillion (2017 estimate)
GDP per capita: US$29,114 (2017 estimate)
Capital and largest city: Kuala Lumpur
Population: 31,567,000 (2017 estimate)
GDP: US$344.848 billion (2017 estimate)
GDP per capita: US$10,756 (2017 estimate)
Capital and largest city: Mexico City
Population: 119,530,753 (2015 estimate)
GDP: US$987.3 billion (2017 estimate)
GDP per capita: US$7,993 (2017 estimate)
Largest city: Auckland
Population: 4,797,320 (2017 estimate)
GDP: US$169.9 billion (2016 estimate)
GDP per capita: US$36,254 (2016 estimate)
PAPUA NEW GUINEA
Capital and largest city: Port Moresby
Population: 7,059,653 (2011 census)
GDP: US$19.915 billion (2016 estimate)
GDP per capita: US$2,517 (2016 estimate)
Capital and largest city: Lima
Population: 31,151,643 (2015)
GDP: US$207.072 billion (2017 estimate)
GDP per capita: US$6,506 (2017 estimate)
Largest city: Quezon City
Population: 100,981,437 (2015)
GDP: US$348.593 billion (2017 estimate)
GDP per capita: US$3,280 (2017 estimate)
Capital and largest city: Moscow
Population: 144,463,451 (2017 estimate)
GDP: US$1.561 trillion (2017 estimate)
GDP per capita: US$10,885 (2017 estimate)
Population: 5,607,300 (2016 estimate)
GDP: US$311.282 billion (2017 estimate)
GDP per capita: US$55,252 (2017 estimate)
Population: 23,550,077 (2017 estimate)
GDP: US$566.757 billion (2017 estimate)
GDP per capita: US$24,027 (2017 estimate)
Capital and largest city: Bangkok
Population: 67,959,000 (2015 estimate)
GDP: US$409.724 billion (2016 estimate)
GDP per capita: US$5,938 (2016 estimate)
Capital: Washington, DC
Largest city: New York City
Population: 325,145,963 (2017 estimate)
GDP: US$18.558 trillion (2016 estimate)
GDP per capita: US$57,220 (2016 estimate)
Largest city: Ho Chi Minh City
Population: 92,700,000 (2016 estimate)
GDP: US$215.829 billion (2017 estimate)
GDP per capita: US$2,305 (2017 estimate)
Vietnam & APEC
On November 14, 1998, Vietnam, together with Russia and Peru, was admitted as an official member of APEC, which marked an important step in Vietnam's process of regional and international economic integration.
Despite being a new member, Vietnam has actively participated in economic, trade, investment cooperation programmes and the liberlisation process of APEC.
Vietnam hosted the APEC Leaders’ Summit in 2006 and is preparing for the APEC Leaders’ Summit in 2017 scheduled to take place in Da Nang in November.
Prior to the Leaders' Summit, meetings on various issues will be held throughout the year in Hanoi, Ho Chi Minh City, Ha Long, Ninh Binh, Vinh, Hoi An, Hue, Nha Trang and Can Tho.
Four priorities of APEC Vietnam 2017
Introduction to APEC Vietnam 2017
Welcome to Vietnam
Welcoming Remarks by APEC 2017 SOM Chair Bui Thanh Son
Interview with SOM Chair Bui Thanh Son
Remarks by Deputy PM Pham Binh Minh at PECC 24th General Meeting
Keynote Address by Deputy PM Pham Binh Minh at the Symposium on Priorities for APEC Vietnam 2017