Pacific Economic Cooperation Council
The Pacific Economic Cooperation Council (PECC) is an international organization made up of government, business and academic leaders from the Asia-Pacific region. Established in 1980, its goal is to promote economic cooperation and trade between the Asia-Pacific countries. PECC is an influential organization and is currently the third-largest regional economic organization in the Asia-Pacific region, after the Association of Southeast Asian Nations (ASEAN) and the East Asia Summit (EAS).
PECC’s mission is to promote increased economic openness and cooperation, a deepening of economic and financial relations, and institutional reforms and better environmental policies among its members. In particular, PECC hopes to promote trade liberalization as well as improved and sustainable economic policies, effective governance and community building between all its members and beyond.
PECC focuses on a wide range of topics, from economic growth and development, to environmental issues, services, international labor and security. PECC holds annual meetings between the 23 member states and three associate members, as well as round tables, conferences and seminars. Additionally, PECC publishes an annual report and an annual survey of the macroeconomic, political and strategic environment in the Asia-Pacific region.
PECC also acts as a bridge between the countries of the Asia-Pacific and the international community. It produces policy studies, task forces and reports on important topics, provides advice to its members, and takes part in the planning and development of the region’s multilateral organizations and agreements. PECC also acts as an observer in meetings of the World Trade Organization and other international institutions.
The goals of the Pacific Economic Cooperation Council are relevant not only to the Asia-Pacific region, but to the global economy as a whole. By promoting stronger economic ties and fostering cooperation between countries, PECC helps to reduce poverty, promote sustainable economic growth, protect the environment and create an environment of peace and security in the region. As the organization’s presence and influence grows, it will become even more important in the years to come in helping to ensure stability and prosperity throughout the region.