Asia-Pacific Economic Cooperation is a forum for 21 Pacific Rim countries that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. Established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world, initially, with the notion to the likely dominance of the sphere of economic influences of the highly industrialized Japan in the Asia-Pacific region and for the economic interests of Australian agricultural/raw material products to search for new buyers other than the demand-declining European market, APEC works gradually to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries. Members account for approximately 40% of the world's population, approximately 54% of the world's gross domestic product and about 44% of world trade.

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