Leaders from 21 Pacific Rim economies are convening in Gyeongju, South Korea, for the 32nd  Asia-Pacific Economic Cooperation (APEC) forum.

About Asia-Pacific Economic Cooperation

• Establishment: Founded in 1989 to promote regional economic integration, trade liberalization, and sustainable growth across the Asia-Pacific.
• Nature: A regional economic forum (not a treaty-based organization); decisions are non-binding and consensus-driven.
• Secretariat: Located in Singapore.
• Membership: Comprises 21 economies across the Pacific Rim, representing – 
  • About 50% of global GDP,
  • Nearly 50% of World’s trade
  • About 40% of the world’s population (2.7 billion people).
  • Major members include the U.S., China, Russia, Japan, South Korea, Australia, Canada, Indonesia.
  • India is currently an Observer, not a full member. 

India and APEC

• Membership Efforts:
  • India applied for APEC membership in 1993 and again in 2007, but entry was not accepted due to the 1997 moratorium on new members.
  • Some members (e.g., U.S., Japan, Australia) support India’s entry; others remain cautious, citing India’s trade barriers and non-membership in key trade blocs like RCEP.
• Engagement: India participates as an Observer and collaborates informally with member economies through regional initiatives on connectivity, digital trade, and sustainable development.

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Advantages for India

• Economic Integration: Strengthens India’s Act East Policy and deepens ties with Asia-Pacific supply chains.
• Trade Expansion: Opens markets for Indian goods and services across 21 economies.
• Policy Reforms: Encourages alignment with APEC’s trade facilitation and customs transparency norms.
• Support for SMEs: Helps India adopt best practices for small business competitiveness and digital readiness.
• Global Standing: Inclusion would enhance India’s role in regional economic governance and global trade negotiations

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