10/02/2020
The Asia-Pacific Economic Cooperation (APEC), is a regional economic forum of 21 members, established in 1989. Its formation leverages on the growing interdependence of the Asia-Pacific, with the primary goal of promoting free trade and sustainable development in the Pacific Rim economies.
Malaysia is one of the founding members of APEC in 1989, alongside 11 other economies, namely Australia, Brunei Darussalam, Canada, Indonesia, Japan, the Republic of Korea, New Zealand, the Philippines, Singapore, Thailand and the United States. China; Hong Kong, China; and Chinese Taipei joined in 1991. Mexico and Papua New Guinea followed in 1993. Chile acceded in 1994. And in 1998, Peru; Russia; and Viet Nam joined, taking the full membership to 21.