About the Bank - Who We Are

​​​​​​​​​International Economic Cooperation: Asia Pacific Economic Cooperation (APEC)​

​​​​​The APEC forum was established in 1989 to take advantage of the growing interdependence among Asia-Pacific economies, to facilitate economic growth for all participants and to enhance a sense of community. It aims to improve regional trade and economic performance and linkages for the prosperity of the people in the region.

In 2020, APEC launched the Putrajaya Vision 2040, an inspiration for a more open, dynamic, resilient, and peaceful Asia-Pacific community in the next 20 years. This new vision replaces the Bogor Goals that was announced in 1994 when APEC Leaders met in Bogor, Indonesia and adopted for the long-term goal of free and open trade and investment in the region.


APEC operates based on non-binding commitments. Unlike the World Trade Organization (WTO) or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Commitments made under the APEC are undertaken on a voluntary basis.

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Created:6/17/2020 3:20 PM   by:  Pambid Frederick D.
Modified:3/4/2021 2:55 PM   by:  Pambid Frederick D.