Australia and APEC

Australia was a founding member of APEC in 1989.

APEC was formed to encourage a growing and prosperous regional economy through:

• trade and investment liberalisation and facilitation – at the border, across the border and behind the border
• reduced costs of cross-border trade to assist businesses
• economic and technical cooperation
• exchanges of best practice information on trade and investment
• simplified regulatory and administrative processes
• improved institutional capacity to implement and take advantage of the benefits of trade and investment reform.

APEC's work is guided by the APEC Putrajaya Vision 2040, which is for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040. This will be achieved by pursuing three economic drivers:

• trade and investment
• innovation and digitalisation
• strong, balanced, secure, sustainable and inclusive growth.
• APEC decisions are reached by consensus, and commitments are made on a voluntary basis.

APEC members

APEC's 21 member economies are:

• Australia
• Brunei Darussalam
• Canada
• Chile
• Chinese Taipei
• Hong Kong, China
• Indonesia
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