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# Asia-Pacific Economic Cooperation

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## APEC 2024

Peru will chair APEC for the third time in 2024, after hosting in 2008 and 2016. Their host year will include over 160 meetings across five cities. We are grateful to Peru for their leadership and look forward to working with Peru and other economies toward successful outcomes during APEC 2024.

Peru’s theme for APEC 2024 is **“Empower. Include. Grow.”**and it encompasses three priorities:

              - Trade and investment for inclusive and interconnected growth;   

              - Innovation and digitalization to promote transition to the formal and global economy; and

              - Sustainable growth for resilient development.  

Another key focus for the Peru host year will be inclusive growth, including how we can dive deeper into discussions on the informal economy and how member economies can further support transitions to the formal economy. The United States remains committed to carrying forward the mandate from our Leaders and Ministers to build on the success of APEC 2023 and support APEC 2024, and we encourage others to do so as well.We look forward to building on the APEC 2023 outcomes to continue to create a resilient and sustainable future for all through empowering our people, our communities, and our businesses, including them in economic policy making, and growing our economies together through greater cooperation.

Read more about the 2024 priorities.Collapse the 2024 priorities.

#### Sites and Dates

              - See APEC PERU 2024 events .

              - Visit  APEC’s event calendar  for the latest updates.

#### For Media

              - Media Registration Open for the First Meetings of APEC 2024

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We have worked together to find ways to build an inclusive, resilient, and sustainable economies for the Asia-Pacific. We talked about the progress that requires partnership. America’s commitment to the Asia-Pacific is unwavering and, in our view, from America’s perspective, essential.

### About APEC

The Asia-Pacific Economic Cooperation (APEC) is the premier platform for the United States to advance economic policies in the Asia-Pacific region to promote free, fair, and open trade and investment and advance inclusive and sustainable growth. The 21 APEC member economies account for nearly 40 percent of the global population, almost half of global trade, and approximately 60 percent of global GDP. 

**“Our vision is an open, dynamic, resilient, and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations.”**

In 2020, Malaysia led APEC economies to launch the Putrajaya Vision 2040 for an “open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations.”  The following year, New Zealand used its APEC host year to launch the Aotearoa Plan of Action to set out actions to achieve the Putrajaya Vision and evaluate progress.  These efforts made clear the three “drivers of economic growth” on which APEC should focus:

                  - Trade and investment;

                  - Innovation and digitalization; and,

                  - Strong, balanced, secure, sustainable, and inclusive growth.

### APEC Process

The hosting of APEC rotates each year among member economies.  The United States was the 2023 APEC host, following Thailand’s 2022 host year.  Peru is the 2024 host.  Each APEC year culminates in the APEC Economic Leaders’ Meeting (AELM), at which member economy Leaders meet to discuss issues affecting the region. The 2023 AELW was held in San Francisco, California.  At the conclusion of the AELM, Leaders typically issue a joint Declaration and historically have posed for photos in the traditional dress of the host economy.  

AELM is a prime opportunity to engage the 20 other economies bilaterally and plurilaterally at senior levels.  Preparing for the AELM includes an entire annual cycle of several hundred meetings among APEC senior officials, ministers, committees, working groups, and task forces responsible for coordination among members across a range of issues of mutual interest.  

While most meetings and events have focused on principles, best practices and statements of intent, they also provide valuable opportunities for the United States to provide practical exchanges and concrete cooperation on a variety of regional and global issues.  The breadth of APEC’s work can be viewed under the Topics tab on the APEC website. 

### APEC Economies and the World

**Population**

**GDP**

**Trade**

## U.S. APEC Engagement

Through APEC, the United States seeks to advance a free, fair, and open economic policy agenda that benefits U.S. workers, businesses, and families.

As of 2021, fellow APEC members were the destination for more than 60 percent of U.S. goods exports, and seven of the top 10 overall trading partners for the United States are APEC members.

### APEC Matters for America/America Matters for APEC

As part of our enduring commitment to the region and broad-based economic growth and in demonstration of its leadership in the region, the United States hosted APEC in 2023, building on the work of the three-plus decades of APEC’s success and contributing to an integral piece of the Prosperity pillar of President Biden’s Indo-Pacific Strategy.

Hosting APEC in 2023 provided the U.S. with a unique opportunity to showcase economic leadership and multilateralism in the Indo-Pacific and highlight the direct impact of international economic engagement on prosperity in the United States.  

Through our APEC 2023 host year, we advanced U.S. economic engagement with the region. Regular exchanges among governments, business leaders and other stakeholders are critical to ensuring that APEC is delivering pragmatic solutions to the key challenges facing U.S. workers and businesses, both at home and in the region.  Beyond our host year, we will work with APEC partners to cement Leaders and Ministerial-level commitments.

visit the APEC Matters for America/America Matters for APEC publication

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