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'''APEC''' (Asia-Pacific Economic Cooperation) is an [[association]] of 21 countries in the Asia-Pacific region which works together to achieve economic growth, cooperation, trade and investment.<ref>http://www.apec.org/content/apec/about_apec.html</ref>
'''APEC''' ('''Asia-Pacific Economic Cooperation''') is an [[association]] of 21 countries in the Asia-Pacific region which works together to achieve economic growth, cooperation, trade and investment.<ref>http://www.apec.org/content/apec/about_apec.html</ref>
APEC operates on the basis of non-binding commitments. Unlike other [[multilateral]] [[trade]] bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.
APEC operates on the basis of non-binding commitments. Unlike other [[multilateral]] [[trade]] bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.