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Ministry of Foreign Affairs

Asia-Pacific Economic Cooperation (APEC)

Explore how Singapore and APEC work together to boost trade, investment, innovation and digital growth across the Asia-Pacific toward a brighter, more inclusive future.

Last updated 2 December 2025

Overview

Asia-Pacific Economic Cooperation (APEC) was established in 1989 to leverage the growing interdependence of economies in this region. It comprises 21 members. Singapore is one of the 12 founding member economies of APEC, and last held the APEC Chairmanship in 2009.

Singapore recognises that APEC is an important platform for promoting greater trade and investment liberalisation and facilitation, and deepening regional economic integration, which in turn strengthen development and growth in and between member economies in the Asia-Pacific region. According to a report published by the APEC Policy Support Unit, APEC economies accounted for 61 percent of global nominal GDP and 46 percent of global trade in 2024. Over 76 percent of Singapore’s global trade in goods and services are with APEC economies.

APEC’s work for the next 15 years will be guided by the APEC Putrajaya Vision 2040, which was adopted by APEC Leaders in 2020. It envisions an open, dynamic, resilient, and peaceful Asia-Pacific by 2040, for the prosperity of all people and future generations. This will be achieved through three economic drivers, namely (a) trade and investment; (b) innovation and digitalisation; and (c) strong, balanced, secure, sustainable, and inclusive growth. In 2021, APEC Leaders endorsed the Aotearoa Plan of Action, which will serve as a blueprint towards the implementation of the Putrajaya Vision 2040. The Bangkok Goals on Bio-Circular-Green (BCG) Economy, endorsed by APEC Leaders in 2022, outlines key action areas in supporting APEC’s growth trajectory towards a strong, balanced, secure, sustainable and inclusive future. 

The 2023 APEC Golden Gate Declaration outlined ways to move the region towards new ways of bringing resilience, sustainability, interconnection, innovation and inclusion into APEC’s priorities and the 2024 APEC Leaders’ Machu Picchu Declaration built upon the work of previous APEC Chairmanships and encouraged digital transformation and innovation to create sustainable and inclusive growth for our region. Most recently, the Republic of Korea (ROK) chaired APEC 2025 under the theme of “Building a Sustainable Tomorrow: Connect, Innovate, Prosper.” At the 32nd APEC Economic Leaders’ Meeting (AELM) from 31 October to 1 November 2025 in Gyeongju, ROK, the 2025 APEC Leaders’ Gyeongju Declaration was adopted, which addresses global issues such as the facilitation of trade and investments, digital and AI transformation, inclusive economic growth, and the impacts of demographic changes. Two accompanying statements were released together with the Leaders’ Declaration: the APEC AI Initiative, which is a joint step toward advancing successful AI transformation within APEC; and the APEC Collaborative Framework for Demographic Changes, through which member economies reaffirmed their commitment to working together to unlock new opportunities to maximise economic growth and prosperity for all in the Asia-Pacific region.

In support of the APEC agenda in 2025, Singapore secured the endorsement of all APEC economies to implement trade facilitation initiatives in the Supply Chain Connectivity Framework Action Plan Phase III (SCFAP III); and to establish an APEC Centre of Excellence for Paperless Trade (ACCEPT). Set up in partnership with Australia, ACCEPT will advance public-private sector collaboration to support the adoption of paperless trade between APEC members through capacity building, industry support, and resource mobilisation. The Centre will be housed at the Singapore Business Federation.

Upcoming highlights

APEC 2026, China

The People’s Republic of China (PRC) will host APEC in 2026, under the overarching theme of “Building an Asia-Pacific Community, Promoting Common Prosperity.” Its priorities will be “Openness, Innovation, Cooperation” across the three pillars of trade and investment, innovation and digitalisation, and sustainable inclusive growth.

APEC 2030, Singapore

APEC is an important economic platform for consensus-driven cooperation in the region, and APEC’s strengths as a non-binding forum and an incubator of ideas allow economies to cooperate on many areas of work, such as on supply chains, digital economy, and sustainability. Singapore will host APEC in 2030 to help steer APEC’s priorities as we work towards the Putrajaya Vision 2040 of an open, dynamic, resilient and peaceful Asia-Pacific community by 2040. Singapore looks forward to working with all economies and relevant stakeholders as we prepare to host APEC in 2030.

More information on its work can be found on the official APEC Website (opens in new tab).