Establishment
In January 1989, Australian Prime Minister Hawk raised the proposal of having a ministerial meeting2 on the economic cooperation in the Asia-Pacific region during his visit to Seoul3, Republic of Korea. After talks with relevant4 countries, the first ministerial meeting was held in Canberra,capital of Australia from 6 to 7, November 1989. Foreign Ministers and Economic Ministers from Australia, the United States of America, Canada, Japan, Republic of Korea, New Zealand, Brunei, Indonesia, Malay- sia, Philippines, Singapore and Thailand attended the meeting. Thus Asia-Pacific Economic Cooperation (APEC) was set up. On 20 and 21 November 1993, the first APEC Economic Leaders' Meeting was held in Seattle, the United States of America. Chinese President Jiang Zemin attended this meeting for the first time and he raised the spirit of “mutual respect, mutual benefit, mutual opening and mutual development”.
Members
21 Members include Australia; Brunei; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Mexico; Malaysia; New Zealand; Papua New Guinea; Peru; Philippines; Russia; Singapore; Chinese Taipei; Thailand; United States; Viet Nam.
Objectives
In November 1991, the 3rd APEC Ministerial Meeting in Seoul issued6 the Seoul APEC Declaration that set the objectives of “interdependence and common interests, to develop and strengthen the open multilateral trading system and reduce regional barriers to trade”.
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