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Why APEC Little do most people know in the US but we are members to over 50 organiztons in this world And they deal with anything from world health to world trade The only thing that can make our nations prosperous is our trade Currently the Pacific Rim is the most diverse trade market the US is involved in APEC Asian Pacific Economic Cooperation represents 47 of the worlds trade and 53 of the world population this is the USs trade organization in this region Currently APEC is trying to make the Pacific Rim a free trade region kind of like NAFTA North American Free Trade Agreement so the US has got to decide if it wants to putt all its efforts in with APEC or another organization The Asia-Pacific Economic Cooperation APEC was established in 1989 in response to the growing interdependence among Asia-Pacific economies Begun as an informal dialogue group APEC has since become the primary regional vehicle for promoting open trade and practical economic cooperation Its goal is to advance Asia-Pacific economic dynamism and sense of community Despite the financial instability of 1997-98 the Asia-Pacific remains one of the fastest growing regions in the world It is a major contributor to global prosperity and stability Today APEC includes all the major economies of the region and the most dynamic fastest growing economies in the world APECs 21 member economies had a combined Gross Domestic Product of over US16 trillion in 1995 and 44 percent of global trade What APEC means to the US can be summed up best by Richard A Boucher the US ambassador to APEC It is an understatement to say that the APEC region is important to US interests The region holds partners for us in key issues such as security trade and the environment to name only a few And even though APEC is an economic forum our active participation in it bolsters our ability to
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