The Asia-Pacific Economic Cooperation (APEC) prepares to convene the first ever summit in Papua New Guinea (PNG) on Nov. 17 and 18. Established in 1989, the founders of APEC sought to create more effective economic cooperation in the Asia-Pacific region, the economy of which grew 6.4 percent in 2017, compared to 3.6 percent 25 years ago.
Leaders of the 21 members of APEC, which contributes 60 percent to the world’s gross domestic product (GDP) and 48 percent of world trade, will hold their annual meeting in Port Moresby with a focus on harnessing inclusive opportunities and embracing a digital future.
The chairmanship of the PNG is not only symbolic, but also sends a signal to the region and even to the world that the voice of the developing world can offer new ideas to APEC’s economic growth.
Indonesia hosted APEC summ...
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