Asia-Pacific Economic Cooperation (
APEC) is a forum for 21
Pacific Rim member economies that promotes
free trade throughout the
Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional
trade blocs in other parts of the world; to fears that
highly industrialised Japan (a member of
G8) would come to dominate economic activity in the Asia-Pacific region; and to establish new markets for agricultural products and raw materials beyond Europe.