Asia Pacific Economic Cooperation (APEC)

 APEC is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region headquartered at Singapore.

 APEC was established due to growing inter dependence among Asia Pacific regions, increasing regional trade blocs, to diffuse growing power of Japan; establish agricultural products and raw materials beyond Europe.

 The criterion for membership is that the member is a separate economy, rather than a state and the result of it is the inclusion of Taiwan.

 APEC also includes three official observers: ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council.

 India is not in the grouping.

 2017 meeting is scheduled to happen in Vietnam.