Question
Asia - Pacific Economic Cooperation (APEC)
Answer :
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The Asia-Pacific Economic Cooperation (APEC) is a regional intergovernmental forum established in 1989 with the aim of promoting economic cooperation and integration in the Asia-Pacific region. APEC consists of 21 member economies, including major players like the United States, China, Japan, and Australia, making up more than half of the world's GDP and trade.
APEC operates on the principle of open dialogue and non-binding commitments, emphasizing voluntary cooperation and consensus-building. The forum addresses a wide range of issues, including trade and investment liberalization, business facilitation, economic and technical cooperation, and sustainable development.
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