Established in November 1989 with the goal of reducing the possibility for economic conflict in the region. APEC currently has 18 members from both sides of the Pacific (Australia, Brunei, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand, and the United States).
The Asia-Pacific Economic Cooperation (APEC) is an economic forum for a group of Pacific Rim countries to discuss matters on regional economy, cooperation, trade and investment. Ministers from the member economies meet on a continual basis throughout the year. The activities are coordinated by the APEC Secretariat based in Singapore.