The mission statement of APEC reads, “We are united in our drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favorable and sustainable business environment.”
The key to achieving APEC's mission is what is commonly referred to as the Bogor Goals: achieving free and open trade and investment in the Asia-Pacific by 2010 for developed economies and by 2020 for developing economies. These goals were agreed by APEC Economic Leaders in Bogor, Indonesia in 1994. To achieve these goals, APEC member economies developed a framework in Osaka, Japan in 1995, which sets out trade and investment liberalization, business facilitation, and economic and technical cooperation as the three key areas of cooperation, or otherwise known as the “Three Pillars” of APEC.
Not limited to achieving the Bogor Goals, the scope and the depth of cooperation in APEC have expanded and deepened. In response to the emergence of the digital economy and the 4th Industrial Revolution, APEC member economies are striving to strengthen their capacity for digital technology and make the most of the opportunities created by this surge of change. Also, to unleash the potential of the long-excluded groups such as the youth, women, MSMEs, and people in rural and remote areas in achieving economic growth, APEC is promoting discussions and various initiatives on inclusive growth in the region.
