Beyond the crisis
Other than economic growth, trade and development, organizers have said this year's Asia-Pacific Economic Cooperation (APEC) summit will focus on "overcoming the economic crisis and positioning member economies for a sustainable recovery in the post-crisis world".
APEC was formed in 1989 in light of the increasing inter-dependence of Asia-Pacific economies, with its first 12 members meeting in Canberra, Australia. The group's founding members were Australia, Brunei, Canada, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States.
Milestones in the group include setting the Bogor Goals of "free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies", organizers said.
