History12 - Australia's Engagement with Asia 1945-2001: APEC

Asia-Pacific Economic Cooperation (APEC), organization that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. Established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional economic blocs (such as the European Union and the North American Free Trade Area) in other parts of the world, APEC works to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries.

APEC members are concerned with a broad range of economic issues, and officials from member economies frequently consult on these issues. APEC members have developed cooperative approaches to regional energy and environmental issues.