The Asia-Pacific Economic Cooperation (APEC) is a forum of 21 Asia-Pacific economies established in 1989 to facilitate trade and investment, economic growth, and regional cooperation
. APEC's 21 member economies include Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the United States, and Vietnam
. The organization aims to create greater prosperity for the people of the region by promoting inclusive, sustainable, innovative, and secure growth and by accelerating regional economic integration
. APEC operates as a cooperative, multilateral economic and trade forum, and has contributed to the reduction of tariffs and other barriers to trade in the region over time, leading to the expansion of economic growth and international trade
