Which 1989 forum promotes economic cooperation and freer trade around the Pacific Rim?

The Asia-Pacific Economic Cooperation forum, commonly called APEC, was founded in 1989 to promote economic cooperation and freer trade around the Pacific Rim.

APEC began with 12 founding economies in Canberra, Australia, in November 1989. Unlike a conventional free-trade agreement, it operates through voluntary commitments, consensus, and cooperation among participating economies. Its members work on trade facilitation, customs procedures, supply chains, investment, digital commerce, and other issues affecting regional economic integration.

APEC uses the term “economies” rather than “countries” because its membership includes entities with separate participation in international trade forums, including Hong Kong, China, and Chinese Taipei. This wording allows the group to include all of its participants without resolving their differing political statuses.

APEC later expanded beyond its original 12 participants and now includes 21 member economies. It is often confused with ASEAN, which is a Southeast Asian regional organization, or the East Asia Summit, a separate leaders’ forum with a different membership and agenda.