As an informal forum set up in 1989 for high level government-to-government dialogue on economic and trade issues, APEC operates on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Decisions within APEC are reached by consensus. Commitments are undertaken on a voluntary basis. Over the years, the forum has adapted to allow member economies to deal with important new challenges and development to the region's economic well-being such as climate change and digitalisation.
APEC comprises 21 member economies (including Hong Kong, China). For details, please visit the APEC website.
Endorsed at the APEC Economic Leaders’ Meeting in 2020, APEC Putrajaya Vision 2040 (the Vision) envisions an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations. APEC member economies are committed to achieving the Vision through pursuing three economic drivers –
In 2021, Leaders endorsed Aotearoa Plan of Action, the blueprint to implement the Vision.
More information on APEC's work and achievements can be found here.
As one of the most externally oriented and open economies in the world, Hong Kong attaches great importance to promoting regional economic co-operation. Since 1991, we have been actively participating in APEC, and continued our participation as a separate and full member after 1997 under the name “Hong Kong, China” (HKC). This is a testimony of the successful implementation of the “One Country, Two Systems” principle, and underlines our autonomy in external trade and economic matters.
The Trade and Industry Department has been taking a leading role in HKC's participation in the forum, including participation in meetings of various APEC fora, as well as coordination of other Government Bureaux'/Departments' participation in APEC.
HKC’s priorities in APEC include –
HKC will maintain its active participation in APEC’s work including taking up of leadership roles in APEC fora and initiating APEC projects. Currently, HKC is the Chair of the APEC Economic Committee and the Deputy Lead Shepherd of the APEC Energy Working Group. HKC is also participating actively in APEC SME Working Group to exchange with member economies knowledge and experience in promoting and facilitating the development of MSMEs.
Over the years, APEC member economies have worked together to improve regional economic integration. APEC has also implemented various business facilitation initiatives such as simplifying customs procedures, enhancing business mobility through the APEC Business Travel Card (for detailed application procedures for HKC businessmen administered by the Immigration Department, please click here), promoting electronic commerce and establishing mutual recognition arrangements for telecommunications, electrical and electronic equipment, improving ease of doing business, fostering structural reform and good regulatory practices, etc. Such work has helped improve the region's business environment by slashing business costs and time.
For more information on APEC's achievements and benefits, please click here.
APEC Business Advisory Council (ABAC) was established by the Economic Leaders in November 1995 to provide advice to APEC on business sector priorities, and to respond to requests from various APEC fora for information about business perspective on specific areas. ABAC presents annual reports to APEC Economic Leaders. They contain specific recommendations for improving business conditions and expanding trade and investment facilitation and liberalisation in the region.
ABAC comprises up to three members and three alternate members of the private sector from each APEC member economy, to be appointed by their respective Economic Leaders.
HKC's current Representatives to ABAC are Ms Marjorie Yang (Chairman of Esquel Group), Ms Mary Huen (Chief Executive Officer for Hong Kong and Greater China & North Asia of Standard Chartered Bank (Hong Kong) Limited) and Ms Nisa Leung (Managing Director of City Crest Limited) while HKC’s Alternate Representatives to ABAC are Mr Spencer Fung (Group Executive Chairman of Li & Fung), Mr Duncan Chiu (Chairman of Lai Yuen Company Limited) and Mr Geoffrey Kao (Executive Director of Wah Ming Hong Limited).
The ABAC Chair rotates annually in consonance with the APEC Chair. The host member economy for the year is to designate one of its ABAC Members to serve as ABAC Chair. There are two ABAC Co-Chairs, one from the immediate past ABAC Chair, and another from the immediate future ABAC Chair.