APEC Objectives
The member economies represent the rich diversity of the region as well as differing levels of economic development. Despite such differences there is a growing sense of common purpose and cooperation aimed at sustained regional and world growth.

APEC has come a long way since 1989. It has built steadily on the efforts of the past and looks forward to further progress. The initial years of APEC were focused largely on exchanges of views and project-based initiatives. The concerns were simply to advance the process of Asia-Pacific Economic Cooperation and to promote a positive conclusion to the Uruguay Round of GATT negotiations. Today, APEC has evolved with the needs of its members to be a forum of greater substance and higher purpose-it aims to build the Asia-Pacific community through achieving economic growth and equitable development through trade and economic cooperation.

At Blake Island near Seattle the APEC Economic Leaders met for the first time for informal discussions in November 1993. They envisioned a community of Asia-Pacific economies based on the spirit of openness and partnership; of cooperative efforts to solve the challenges of change; of free exchange of goods, services and investment; of broadly based economic growth and higher living and educational standards; and, of sustainable growth that respects the natural environment.

In subsequent annual meetings, APEC Ministers and Leaders further refined the vision and launched mechanisms to translate it into action. In 1994 in Bogor, Indonesia the vision of an open trading system became the very ambitious goal of free and open trade and investment in the Asia-Pacific by 2010 for developed member economies and 2020 for developing ones.

In Osaka in 1995, APEC Leaders adopted the Osaka Action Agenda, which firmly established the three pillars of APEC activities: trade and investment liberalization, business facilitation and economic and technical cooperation. The Manila Action Plan for APEC (MAPA), adopted by the Economic Leaders in November 1996, compiled members¡¯ initial individual action plans to achieve the objectives outlined in Bogor. APEC Leaders also instructed that high attention be given to the following six areas of economic and technical cooperation: developing human capital; fostering safe and efficient capital markets; strengthening economic infrastructure; harnessing technologies of the future; promoting environmentally sustainable growth; and encouraging the growth of small and medium-sized enterprises.

In Vancouver in 1997 the APEC Economic Leaders recognized members¡¯ efforts to improve the commitments in their Individual Action Plans and reaffirmed their intention to update these annually. The Leaders endorsed their Ministers¡¯ agreement that action should be taken with respect to early voluntary sectoral liberalization (EVSL) in 15 sectors, with nine to be advanced throughout 1998 and implementation to begin in 1999. The Leaders welcomed the progress of APEC fora in involving business, academics and other experts, women and youth and encouraged them to continue these efforts. The Leaders endorsed the Vancouver Framework for Enhanced Public-Private Partnership for Infrastructure Development, as infrastructure is inextricably linked to the questions of financial stability that APEC addressed that year.

In Kuala Lumpur in 1998, the APEC Leaders reaffirmed their confidence in the strong economic fundamentals and prospects for recovery for the economies of the Asia-Pacific. They agreed to pursue a cooperative growth strategy to end the financial crisis. They pledged efforts to strengthen social safety nets, financial systems, trade and investment flows, the scientific and technological base, human resources development, economic infrastructure, and business and commercial links so as to provide the base and set the pace for sustained growth into the 21st century. Leaders also welcomed Ministers¡¯ decision to seek an EVSL agreement with non-APEC members at the World Trade Organization.

The Leaders adopted the Kuala Lumpur Action Program on Skills Development with the objective of contributing towards sustainable growth and equitable development while reducing economic disparities and improving the social well-being of the people, through skills upgrading/improvement.