The Asian-Pacific Economic Cooperation (APEC) is a cooperative effort of 21 countries with a common goal of improving free trade in this region. First established in 1989 with 12 member countries in Canberra, Australia, APEC has made great strides in facilitating and improving trade among its member countries. In the first decade after its creation, the economies of the member nations accounted for 70% of global growth economically. Its members are, alphabetically, 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 Republic of the Philippines, The Russian Federation, Singapore, Chinese Taipei, Thailand, United States of America, and Vietnam.

APEC’s 21 members represent 41% of the global population, 49% of international trade and 56% of the world’s Gross Domestic Product (GDP). There is no treaty to sign, rather APEC functions by consensus and cooperation. It adheres to the “Bogor Goals,” established in 1994 in Bogor, Indonesia. These goals are to have free and open trade and increased foreign investment