Asia-Pacific Economic Cooperation, known as APEC, is an intergovernmental forum of twenty-one Pacific Rim member economies, founded in 1989 to promote free trade and deepen economic ties across the Asia-Pacific in response to growing regional interdependence and the emergence of trade blocs elsewhere. Headquartered in Singapore, it is among the oldest and highest-level multilateral forums in the region, and its heads of government meet annually at an economic leaders' meeting whose host rotates among the member economies.
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