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Member economies of the Asia-Pacific Economic Cooperation (APEC). The Asia–Pacific (APAC) is the region of the world adjoining the western Pacific Ocean.The region's precise boundaries vary depending on context, but countries and territories in Australasia, East Asia, and Southeast Asia are often included.
Asia-Pacific Economic Cooperation (APEC / ˈ eɪ p ɛ k / AY-pek [1]) is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region. [2]
Initially, the Group was known as the Asian Group. [8] However, by the 1970s, Pacific island nations were gaining independence and joining the group. By the mid-2000s the number of Pacific island nations in the group had reached over one fifth of the membership, so they began to advocate for a change of name of the Group.
The 15 member countries account for about 30% of the world's population (2.2 billion people) and 30% of global GDP ($29.7 trillion), making it the largest trade bloc in history. [3] Signed in November 2020, RCEP is the first free trade agreement among the largest economies in Asia , including China, Indonesia, Japan, and South Korea.
Pacific Alliance, a trade bloc of states that border the Pacific Ocean. Permanent members include Chile, Colombia, Mexico, and Peru. The Pacific Pumas, a political and economic grouping of countries along Latin America's Pacific coast that includes Chile, Colombia, Mexico and Peru. The term references the four larger Pacific Latin American ...
East Asia Summit ASEAN Regional Forum . As of 2010, the Association of Southeast Asian Nations (ASEAN) has 10 member states, one candidate member state, and one observer state. ASEAN was founded on 8 August 1967 with five member states: Indonesia, Malaysia, the Philippines, Singapore, and Thailand.
The most recent change to the regional grouping system was in 2011, when the Asia Group was renamed the Group of Asia and the Pacific Small Island Developing States, also Asia and the Pacific Group or Asia-Pacific Group, in order to recognise the growing role Pacific island nations play in the United Nations System. [10] [11]
Rank Country GDP (millions of USD) 1 China 17,700,899 2 Japan 4,230,862 3 India 3,732,224 4 South Korea 1,709,232 5 Australia 1,687,713 6 Indonesia 1,417,387 7 Taiwan ...