As the leading economic forum in the Asia-Pacific, APEC has delivered substantial gains for businesses and consumers alike in Australia and throughout the region. APEC is pursuing an ambitious agenda of trade liberalisation, business facilitation, economic cooperation and technical assistance. The private sector engages closely with the APEC process, particularly through the APEC Business Advisory Council.
| APEC Members | |
|---|---|
| Australia | Brunei Darussalam |
| Canada | Chile |
| China | Hong Kong (SAR China) |
| Indonesia | Japan |
| Republic of Korea | Malaysia |
| Mexico | New Zealand |
| Papua New Guinea | Peru |
| The Philippines | Russian Federation |
| Singapore | Chinese Taipei |
| Thailand | United States |
| Vietnam | |
The Philippines is the current APEC host, with Peru to take over the role in 2016 and Vietnam in 2017.
- APEC's goal is to achieve free and open trade and investment in the region by 2020.
- Since 1989, average applied tariffs in the APEC region have fallen from 16.9 to 5.7 per cent.
- Eight of Australia's 10 largest export markets are within APEC, including our top three export markets – China, Japan and the Republic of Korea.
- APEC has 21 member economies which account for 47 per cent of world trade and 71 per cent of Australia's total trade.
For more information see: www.apec.org
Last Updated: 26 November 2015