“A revitalized APEC is crucial to meet the challenges of sustaining recovery and to deal with the region’s 21st century economic challenges. To do so, APEC economies must forge a partnership of common interests to produce strong, balanced and sustainable growth.”

    17th APEC Economic Leaders’ Declaration “Sustaining Growth, Connecting the Region”
    – Singapore, November 15, 2009

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Why APEC

President Obama on the second day of the 2009 APEC Economic Leaders Meeting in Singapore.

APEC economies are the most dynamic, fastest growing in the world, and the engine of global economic recovery. APEC is the premier vehicle for advancing US economic and trade engagement with the Asia-Pacific region.

Established in 1989, the 21-member APEC forum encompasses virtually all of the Pacific Rim, and is the only inter-governmental forum in the world with an officially sanctioned mechanism for private sector input. Since its inception, APEC has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, creating more efficient domestic economies and dramatically increasing exports.

President Obama addresses the CEO Summit in Yokohama, Japan

APEC economies represent:

  • 60% of world GDP
  • 47% of world trade volume
  • 33% of the world’s population
  • Four out of five of America’s largest export markets