Established in 1989, APEC was designed to promote sustainable economic growth and to strengthen the multilateral trade system through a commitment to open trade, investment and economic reforms among its member economies. APEC's membership has grown from the original 12 to include 21 economies at the present time. These 21 members, spanning four continents and representing the most economically dynamic region in the world, account for almost 50% of the world's population, 60 % of global GDP, and 50% of international trade. Since 1993, APEC’s leaders, ministerial, official, and business group meetings have become the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. It is a remarkable achievement to see such a trans-Pacific forum promoting economic cooperation at such a high level within such a vast and diverse region. Yet, cooperation over diversity has proved to be a daunting task. APEC now is drifting, and searching for its relevance in regional cooperation. If not carefully managed, it may slip into terminal irrelevance.