Themed "Optimizing Human Potential for a Future of Shared Prosperity", this year's Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting is set to open in Malaysia on Friday. Its priority areas include trade and investment, digital economy, innovation, inclusiveness and sustainable development.
"APEC 2020 is about resetting APEC's agenda and steering it back to its fundamental objective of achieving sustainable economic growth and prosperity in the Asia-Pacific region that is truly inclusive," according to its official document released last December.
The incoming APEC meeting will also see the launch of the region's Post-2020 Vision – the key policy document that is set to replace the Bogor Goals, which reach maturity at the end of this year.
The Bogor Goals, one of APEC's flagship initiatives, were released in 1994 for members to move towards the long-term goal of free and open trade and investment in the Asia-Pacific no later than the year 2020.
The APEC, Asia-Pacific's premier economic forum, was established in 1989 to leverage the region's growing interdependence. The bloc's 21 members aim to boost regional prosperity by promoting balanced, inclusive, sustainable, innovative and secured growth and accelerating economic integration.