The Asia-Pacific Economic Cooperation forum was established in 1989 as the premier platform to facilitate economic cooperation in the Asia-Pacific region. APEC has 21 member economies with a population of 2.96 billion and collectively generated a nominal GDP of US$62 trillion in 2022, accounting for 62% of the global nominal GDP and 47% of global trade in goods and commercial services. It aims at supporting sustainable economic growth and prosperity in the Asia-Pacific region by championing free and open trade and investment, promoting regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favorable and sustainable business environment. The decision-making process is based on mutual respect and openness, and decisions made within APEC are consensus-based and commitments are undertaken on a voluntary basis to achieve the goal of shared economic well-being.
Since the nation joined APEC in 1991 under the name of Chinese Taipei, it has played a proactive role in APEC activities. Taiwan’s participation in APEC can be summarized in the following aspects:
1. Actively participating in various APEC meetings:
Our government agencies attend approximately 150 APEC meetings across issues and levels every year, including the APEC Economic Leaders' Meeting (AELM), Annual Ministerial Meetings (AMM), Sectoral Ministerial Meetings (SMM), Senior Officials' Meetings (SOM), and meetings of committees, working groups, and the APEC Business Advisory Council (ABAC) represented by business sectors. Our delegates actively participate in the discussion of the agenda for economic integration and strengthening physical, institutional, and people-to-people connectivity.
2. Collaboratively achieving the "APEC Putrajaya Vision 2040":
In 2020, APEC leaders unveiled the APEC Vision, which is an open, dynamic, resilient, and peaceful Asia-Pacific community by 2040. Taiwan continues to advance the vision with APEC members by promoting projects and actions towards its achievement. They include areas in trade and investment, innovation and digitalization, as well as strong, balanced, secure sustainable, and inclusive growth.
3. Making contributions through diverse means:
Taiwan has held leadership positions in numerous APEC sub-fora and working groups. Moreover, it has been actively proposing initiatives and organizing activities, as well as regularly providing financial contributions to APEC. Through its active participation, Taiwan has built up its own capacities with respect to the APEC framework and has demonstrated its commitment to serving as a constructive member.