Leaders and heads of governments from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) met in the Thailand capital Bangkok for a two-day 29th meeting that concluded on November 19.
Key points
- Leaders called for an end to Russia’s war on Ukraine and pledged to steer the region’s economies toward sustainable growth.
- Host Thailand managed to bridge divisions among the 21 members of the Asia-Pacific Economic Cooperation forum by saying that most members had condemned the war.
- Amid tensions between Russia and the West, Russian President Vladimir Putin did not attend either the G20 or the APEC summits. Foreign Minister Sergey Lavrov went to Bali and Deputy Prime Minister Andrei Belousov to Bangkok.
About APEC
- APEC is a regional economic forum established in 1989 to promote economic integration.
- APEC makes up 38% of the global population, 62% of GDP and 48% of trade.
- APEC’s 21 members are: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.
- APEC has its core value of promoting regional economic integration under a non-legally binding manner and friendly environment.
