International Business: Economic Region

Asia-Pacific Economic Cooperation (APEC)

Asian Pacific Economic Cooperation (APEC) An association of nations around the Pacific rim aiming at the creation of a Pacific free trade area. APEC was set up in 1990; its members include Australia, Canada, Chile, China, Indonesia, Japan, Malaysia, Mexico, New Zealand, Singapore, and the US. It aims at creating a free trade area for its industrialized members by 2010, and its less-developed members by 2020. When complete this will cover a large percentage of world trade. http://www.apec.org/
(Asian Pacific Economic Cooperation" A Dictionary of Economics. John Black. Oxford University Press, 2002. Oxford Reference Online. Oxford University Press. Boston University. 8 January 2006.)