APEC economic forums were founded on the principle that open discussion and respect for all perspectives can help to encourage and sustain increasing economic growth, productivity, and wealth in the Asia-Pacific market.
APEC functions as an interactive, participation-based, boundary-less, trade and commerce platform for discussion. Participating economies cooperate to take action both as individual members and as a group to establish relationships within their markets and promote mutual prosperity. These decisions and plans are formulated and analyzed at meetings between officials and ministers as well as the respective leaders of APECSEC’s twenty-one participating members.
APEC participating members routinely provide updates regarding their pursuit and achievement of commerce related objectives through plans made for both their particular economy as well as that of the collective. Courses of action taken by individual participating economies are structured in such a way that their role and goal are clearly defined and can be easily analyzed and discussed.
The liberalization of commerce emphasizes the necessity for free and open trade between markets and the diminishing the influence and presence of tariffs that negatively impact the potential for trade/investment relationships between economies. Planned cooperation between economies will include training, discussion, and shared responsibility for the implementation of policies that will allow all to make the most of global trade and overall economic growth.
Participating economies will cooperate to continue economic expansion and sustain prosperity through a steadfast commitment to the liberalization of trade and investment as well as the administration of necessary economic reform. By already heeding the requests of businesses within the relevant markets, participating members have already begun to break down walls that previously restricted the growth of trade and inflated the cost of doing business.
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