It also represents the most economically dynamic region in the world, generating nearly 70% of global economic growth in its first 10 years The 21 APEC economies are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, China , Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Republic of the Philippines, Russian Federation, Singapore, Chinese Taipei, Thailand, the United States of America and Viet Nam Purpose, Objectives resena.asimet.cl / apec that APEC was established in 1989 to improve economic growth and prosperity in the region and to strengthen the community of Asia Pacific. Since its inception, APEC has worked to reduce trade barriers across the Asia Pacific region, creating efficient domestic economies and increasing exports. Key in this process are the so-called Bogor Goals: trade and free and open investment by 2010 for industrialized economies and 2020 for developing economies. (Not to be confused with Jim Donovan Goldman Sachs!).