Our Work with APEC

About APEC

Formed in 1989, the APEC (Asia-Pacific Economic Cooperation) forum promotes trade and economic growth and includes 21 member economies:

• Australia
• Brunei Darussalam
• Canada
• Chile
• China
• Hong Kong
• Indonesia
• Japan
• Korea
• Malaysia
• Mexico
• New Zealand
• Papua New Guinea
• Peru
• the Philippines
• Russia
• Singapore
• Chinese Taipei
• Thailand
• United States of America
• Viet Nam.

APEC meetings are held with officials, Ministers and Leaders throughout the year. The major event is the APEC Economic Leaders’ Meeting usually held in November. Alongside these meetings are events involving the business community and young people, representation on indigenous trade and inclusive and sustainable trade issues.

Each year of meetings is hosted and chaired by an APEC member. New Zealand, an APEC founding member, has hosted APEC twice – in 1999 and 2021, the first ever fully-virtual APEC.

APEC Peru 2024

The 2024 APEC meeting was hosted by Peru. With a theme of "Empower. Include. Grow", Peru's focus areas included:

• Trade and investment for inclusive and sustained growth
• Innovation and digitalisation to promote transition to the formal and global economy
• Sustainable growth for resilient development.

Find out more about APEC 2024.

New Zealand’s APEC Priorities are designed to sustain the legacy of New Zealand’s hosting year through a continued focus of efforts on sustainability and trade, inclusive trade, reducing barriers to trade, and supporting and reinforcing the multilateral trade system.

APEC has three official observers:

• the Association of Southeast Asian Nations Secretariat (ASEAN)
• the Pacific Economic Cooperation Council (PECC), and
• the Pacific Islands Forum Secretariat (PIF).

Representatives from these groups participate in APEC meetings and help track progress and provide guidance in support of APEC objectives.

Our Work with APEC

APEC works to break down barriers to trade and investment and support the almost 3 billion people of the Asia-Pacific that participate in the economy.

It allows its 21-member economies, including New Zealand, to deal with new challenges to the region’s economic wellbeing, including disaster resilience and responding to pandemics.

APEC’s Putrajaya Vision 2040 aspires to achieve an open, dynamic, resilient and peaceful Asia -Pacific community for the future prosperity of all people and future generations. Adopted in 2020, the Vision demonstrated a shifting of focus for APEC to engage on not only traditional trade and investment issues, but also innovation, digital, inclusion and sustainability.

New Zealand led the successful development of the Aotearoa Plan of Action, which sets the direction of APEC’s work for the next 20 years. The plan is an important legacy for New Zealand’s host year, highlighting APEC’s commitment to creating an open, dynamic, resilient and peaceful Asia-Pacific community for future generations.

New Zealand’s ongoing APEC Priorities are designed to sustain the legacy of New Zealand’s hosting year through a continued focus of efforts on sustainability and trade, inclusive trade, reducing barriers to trade, and supporting and reinforcing the multilateral trade system. 

APEC is the Asia-Pacific’s premier forum for regional economic growth and integration. It provides an important venue for New Zealand to influence regional economic policy and strengthen bilateral relationships with key partners.

APEC decisions are consensus-based, and commitments are voluntary and non-binding. This has enabled APEC to play an important role in developing new policy approaches and initiatives to enhance trade and economic cooperation.

New Zealand used its host year in 2021 to embed sustainability and inclusion on the APEC agenda; priorities that continued through the Thai and US host years and into Peru’s in 2024.

We also support strengthening connections with the business sector, something APEC has a strong history of through the APEC Business Advisory Council (ABAC).

Importance of APEC

APEC is an important space for New Zealand to meet regularly with regional partners and networks, strengthening the ties that are critically important to our economy.

APEC gives us an equal voice with some of the biggest economies in the world, to promote and shape economic development in the Asia-Pacific region.

Throughout each year, APEC gives New Zealand the opportunity to meet with key regional leaders, Ministers and senior officials and register a New Zealand view. These opportunities are valuable for smaller economies, such as New Zealand.

Reducing trade barriers

APEC has grown to become a dynamic engine of economic growth and one of the most important regional forums in the Asia-Pacific, generating almost half of the world’s trade.

Bringing the region closer together, reducing trade barriers, and smoothing out differences in regulations has boosted trade and prosperity across Asia-Pacific.

Strong connections and relationships have been made through APEC, which provides a forum for Leaders, Ministers and officials to meet, share experiences and work together.

The forward-thinking ideas discussed at APEC meetings have brought many benefits to businesses, people and economies.

The Asia-Pacific’s strong economic growth and increased demand for New Zealand products and services makes those links vital. A common vision, language and understanding with other Asia-Pacific economies will help New Zealand achieve its ambitions.

18 of our 19 free trade agreements are with APEC partners.