APEC member economies shown in green. At the meeting, some leaders called for continued reduction of barriers social welfare in east asia and the pacific pdf trade and investment, envisioning a community in the Asia-Pacific region that might promote prosperity through cooperation.
The APEC Secretariat, based in Singapore, was established to coordinate the activities of the organization. APEC leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. The location of the meeting is rotated annually among the members. Australia and Papua New Guinea. Officials have decided not to allow India to join for various reasons, considering that India does not border the Pacific Ocean, which all current members do. Hong Kong, but the request is opposed by the United States, which currently represents Guam. APEC has long been at the forefront of reform efforts in the area of business facilitation.
APEC is to meet its Bogor Goal targets. In May 2010 Russia joined the scheme, thus completing the circle. Pacific Free Trade agreement proposal. 1980 and then APEC in 1989. In the wake of the 2006 summit, economist C. Fred Bergsten advocated a Free Trade Agreement of Asia-Pacific, including the United States amongst the proposed parties to any agreement at that time. His ideas convinced the APEC Business Advisory Council to support this concept.