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Asia Pacific Economic Cooperation

APEC 2018

What is APEC?

APEC is an abbreviation for Asia-Pacific Economic Cooperation. Established in 1989, APEC is now made up of 21 Economies in the Asia Pacific Region – including Papua New Guinea.

Who are the members of APEC?

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
Philippines
The Russian Federation
Singapore
Chinese Taipei
Thailand
United States of America
Vietnam

Why is APEC important?

APEC’s main purpose is to leverage the growing interdependency of the region by aiming to create greater prosperity for the people of the Asia-Pacific Region by promoting balanced, inclusive, sustainable, innovative and secure growth and accelerating regional economic integration.

What Does APEC Do?

APEC ensures that goods, services, investment and people move easily across borders. Members facilitate this trade through faster customs procedures at borders; more favorable business climates behind the border; and aligning regulations and standards across the region. APEC works to help all residents of the Asia-Pacific participate in the growing economy. APEC members also implement initiatives to increase energy efficiency and promote sustainable management of forest and marine resources.

Types of Meetings in APEC?

There are four main types of meetings that are hosted in an APEC year:

All forums and meetings adapt to allow members to deal with important new challenges to the region’s economic well-being. This includes ensuring disaster resilience, planning for pandemics, and addressing terrorism.

What’s in it for PNG?

Papua New Guinea for the first time since joining APEC in 1993 will have the historic opportunity to host the APEC Summit in 2018. PNG envisions that being a member of APEC can help address pressing issues that affect its economic development and create opportunities to resolve them through its policy projects and initiatives. The APEC PNG 2018 theme is: Harnessing Inclusive Opportunities, Embracing the Digital Future – providing APEC with an opportunity to strategically work on growth, inclusivity, and Sustainability while embracing critical opportunities in the Digital age.

PNGTPA sees APEC PNG 2018 as an Opportunity to:

Promote tourism as an engine for economic growth and prosperity in the APEC region;
Ensure sustainability and inclusive growth in the the travel and tourism sector;
Encourage social, cultural and responsible tourism;
Aim to promote labor, skills development, certification and mobility through increase cooperation;
Develop the tourism workforce of the region;
Promote competitiveness and regional economic integration through APEC PNG's policy initiatives.

PNGTPA envisions that this will help PNG be able to:

For further information email the Policy & Planning Division: ppd@papuanewguinea.travel

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