The forum brings together 21 members located around the Pacific Ocean in an annual summit focused on economic growth, free trade and investment.

More than 10,000 delegates, including leaders and ministers, are expected at the week-long event in Singapore.

APEC leaders, including US President Barack Obama, Chinese President Hu Jintao and Russian President Dmitry Medvedev, will meet on November 14 and 15.

APEC members are Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the United States and Vietnam.

APEC’s 21 member economies account for 40.5 percent of the world’s population, 54.2 percent of its gross domestic product and 43.7 percent of global trade.

The forum has worked to reduce tariffs and other trade barriers across the region. It is guided by its "Bogor Goals" (named after the 1994 summit venue in Indonesia) of free and open trade and investment. Industrialised members were meant to achieve this by 2010 and developing economies by 2020.

APEC operates on the basis of non-binding commitments, and decisions are reached by consensus.

The Japanese city of Yokohama will host the 2010 APEC summit. — CNA/ir

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