ECONOMIC ASPECTS OF APEC.

The article discusses the implications of the economic aspects of the Asia Pacific Economic Cooperation (APEC) for Australia. 70% of Australia's trade in goods, exports plus imports in 1990-91, is with APEC countries, two thirds of this being on the side of the Pacific and one third across the Pacific. The proportion of Australia's trade with APEC is higher than the proportion of the world's trade with APEC countries, 40%. All but one of Australia's ten largest country markets are within APEC. To say that the APEC countries are of economic importance to the country is to state the obvious. However, to say that the APEC countries are important to each other and to Australia is not to say that an organisation to embrace the countries involved is needed.