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HISTORY OF ASIA-PACIFIC COOPERATION

Late 1960s

The concept of a Pacific Free-Trade Area (PAFTA) is advanced (but not implemented).

Apr. 1966

The first Southeast Asian Ministerial Conference for Economic Development is held.

Aug. 1967

The Association of Southeast Asian Nations (ASEAN) is formed.

May 1968

The Pacific Basin Economic Council (PBEC) is established.

1970s

The concept of an Organization for Pacific Trade and Development (OPTD), a Pacific version of the Organization for Economic Cooperation and Development, is advanced (but not implemented).

Feb. 1980

The Pacific Economic Cooperation Council (PECC) is established.

Jan. 1989

Prime Minister Robert Hawke of Australia proposes the formation of a consultative system for the Asia-Pacific region.

Nov. 1989

APEC is established at its first Ministerial Meeting in Canberra.

July 1990

APEC's second Ministerial Meeting is held in Singapore.

Dec. 1990

The concept of an East Asian Economic Group (EAEG) is advanced (but not implemented).

Oct. 1991

ASEAN reaches agreement on creating the East Asian Economic Caucus (EAEC).

Nov. 1991

APEC's third Ministerial Meeting is held in Seoul, and the People's Republic of China, Hong Kong, and Chinese Taipei become members. The meeting issues the Seoul APEC Declaration, which spells out APEC's principles and objectives.

Jan. 1992

Agreement is reached to establish the ASEAN Free-Trade Area (AFTA).

Aug. 1992

Negotiations over the North American Free-Trade Agreement (NAFTA) reach a settlement.

Sep. 1992

APEC's fourth Ministerial Meeting is held in Bangkok. Agreement is reached on setting up a secretariat (Singapore) and introducing a budget system.

Nov. 1993

APEC's fifth Ministerial Meeting is held in Seattle, together with an Economic Leaders Meeting, and Mexico and Papua New Guinea become members. The meeting issues a declaration on an APEC Trade and Investment Framework. The Committee on Trade and Investment is established. A report is submitted by the Eminent Persons Group.

Mar. 1994

APEC's environment ministers meet in Vancouver, Canada, and its finance ministers meet in Honolulu, Hawaii.

Oct. 1994

APEC's trade ministers meet in Jakarta, Indonesia, and its ministers in charge of small and medium-sized enterprises meet in Osaka, Japan.

Nov. 1994

APEC's sixth Ministerial Meeting is held in Jakarta. The Ad Hoc Group on Economic Trends and Issues is upgraded to the Economic Committee. Reports are submitted by the Eminent Persons Group and the Pacific Business Forum. Chile becomes a member. The Economic Leaders Meeting takes place in Bogor, and the goal of achieving free and open trade and investment in the region by 2020 is set.