The Asia-Pacific Economic Cooperation (APEC) was established in 1989 in response to the growing interdependence among Asia-Pacific economies. APEC has become the primary international organization that promotes open trade and economic cooperation among its 21 members around the Pacific Rim.
APEC’s goal is to advance Asia-Pacific economic dynamism and sense of community. Asia-Pacific is one of the fastest growing regions in the world and a major contributor to global prosperity and stability. APEC's members have a combined population of over 2.4 billion inhabitants, that imported goods worth more than 2.6 trillion dollars in 1999, and its Gross Domestic Product hit US$16 trillion in 1998). Mexico is the APEC Chair for the year 2002.
Description of the flag
APEC has a new logo, and its flag has been changed accordingly. The APEC Secretariat undertook an exercise in 2007 to refresh the APEC logo, the most visible expression of the forum's branding and corporate identity. After reviewing proposals that were submitted as a result of an open bid process, Senior Officials approved the new logo at their third meeting in July 2007. The new logo was presented to Leaders and Ministers a few months later when they met in Sydney.
Originally adopted in 1991, the globe-shaped green, blue and white APEC logo was refreshed in 2007 to make it more compatible with a wider range of applications. Specifically, the logo was updated to meet the requirements that new media need - a format that was not yet developed when the logo was first created. The logo will be used in all mediums including print and all electronic formats.
In 1991, the Republic of Korea initiated the design of the APEC Logo for the Seoul Ministerial Meeting.
The globe-shaped green, blue and white APEC logo was thus adopted in 1991. The logo has come to represent not only APEC, the most important vehicle for regional economic cooperation, but also the hopes and aspirations of the Asia-Pacific region itself.
The Logo shows:
The Pacific half of the globe which emphasizes APEC’s membership.
The green and blue colours symbolize the aspirations of the people in the Asia Pacific for a life of prosperity, health and welfare, while the white colour stands for peace and stability.
The shaded areas at the margins illustrate the buoyant outlook for progress and growth for the Asia-Pacific region.