Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41% of the world's population, approximately 56% of world GDP and about 49% of world trade.The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.
The organization conducts the APEC Economic Leaders' Meeting, an annual summit attended by the heads of government of all APEC members (with the exception of the Republic of China (ROC) which is represented under the name Chinese Taipei by a ministerial-level official at the behest of the People's Republic of China (PRC). The location of the summit rotates annually among the member economies, and a famous tradition involves the attending leaders dressing in a national costume of the host member
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