The Asia-Pacific Economic Cooperation, or APEC, is the leading forum in the Asia-Pacific to facilitate trade and investment, economic growth, and regional cooperation.
APEC membership includes: Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; the Philippines; the Russian Federation; Singapore; Chinese Taipei; Thailand; the United States of America; Vietnam.
Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis. APEC has contributed to the reduction of tariffs and other barriers to trade in the region over time, leading to the expansion of economic growth and international trade.
Key to achieving APEC's vision are what are referred to as the “Bogor Goals,” APEC’s foundational goals of free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies, and by 2020 for developing economies. These goals were adopted by Leaders at their 1994 meeting in Bogor, Indonesia.
U.S. Trade and Investment Initiatives at APEC
USTR represents the United States on critical trade and investment initiatives at APEC, with the goal to advance free, fair, and reciprocal trade in the region, deliver for U.S. exporters concrete and meaningful results that break down barriers to trade in the Asia-Pacific, and create jobs. U.S. trade priorities in APEC include:
• Promoting the adoption of high-standard, market-opening actions to eliminate barriers to trade and investment, and addressing trade distorting and other unfair practices;
• Reducing barriers to digital trade to support innovation and the growth of the digital marketplace;
• Increasing services competitiveness in the region by lowering barriers that impede U.S. services exports;
• Promoting good regulatory practices in such areas as public consultations, assessing the impact of regulations, and internal coordination of rule-making;
• Promoting regulatory cooperation in key sectors such as chemicals, life sciences, and autos; and
• Reducing transaction costs for U.S. businesses by implementing the WTO Agreement on Trade Facilitation through capacity building projects and public-private engagement.