The Importance of APEC
Hosting Asia-Pacific Economic Cooperation (APEC) in 2007 allows Australia to assume a key coordination and agenda-setting role. As host, Australia will chair most major meetings, set the annual themes and priorities, and drive substantial elements of the APEC work programme. This provides Australia with a valuable opportunity to set the future direction of the APEC organisation and to pursue important trade and foreign policy goals.
Additionally APEC provides an opportunity to promote Australian exports, economic growth and prosperity. To date, APEC Member Economies account for approximately 70 per cent of Australia's trade and almost 50 per cent of inward investment and include eight of our top 10 export markets.
The 21 APEC Member Economies represent over 40 per cent of the world's population, 56 per cent of global GDP, and around 48 per cent of world trade.