Asia-Pacific Economic Cooperation (APEC) 


The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 with the purpose of promoting free trade and investment and enhance cooperation in social and development areas to advance prosperity, sustainable, and inclusive economic growth in the region.

Currently, APEC comprises 21 member economies as follows: Australia, Canada, Japan, South Korea, China, Hong Kong, New Zealand, the United States, Brunei, Indonesia, Malaysia, Singapore, the Philippines, Thailand, China, Taipei, Chile, Mexico, Papua New Guinea, Peru, Russia, and Vietnam.  

APEC is driven under the core value of consensus, equality and mutual interest of all members. In 2021, the APEC Economic Leaders’ Meeting endorsed the Putrajaya Vision 2040 providing a future direction for APEC which focuses on 3 priorities: (1) open trade and investment (2) innovation and digitalization and (3) sustainable and inclusive economic growth.

Central banks officially joined the meetings under APEC Finance Minister Process after the 6th APEC Economic Leaders’ Meeting (AELM) in Kuala Lumpur, Malaysia in November 1998.

The BOT plays a role in the APEC Finance and Central Bank Deputies’ Meeting and APEC Senior Finance Officials’ Meetings, which is held annually and whereby the meeting’s resolutions will be reported to the APEC Finance Ministers’ Meeting (AFMM). 

Under Thailand’s APEC Chairmanship in 2022, the BOT proposed the initiative on APEC Payment Connectivity to promote financial linkages and developed the APEC Policy Considerations for Developing Cross-border Payments and Remittances to be one of deliverables under the APEC Finance Ministers’ Process (APEC FMP). The Policy Considerations provide guidelines and recommendations for APEC members to voluntarily apply when embarking on their cross-border linkages. This initiative will facilitate trade, investment, tourism, and people to make faster and cheaper cross-border transactions which will enhance economic growth and prosperity in the region.  

International Cooperation Framework

Additional Information

International Cooperation Team 1-2, International Cooperation Department, Corporate Relations Group