Introduction to APEC and its Significance
Mexico has been chosen as the host for the 2028 Asia-Pacific Economic Cooperation (APEC) Summit, as decided unanimously by the leaders of the 21 economies represented in this regional forum. The decision was announced by Mexico’s Secretary of Economy, Marcelo Ebrard, following the APEC forum in Gyeongju, South Korea.
APEC: A Regional Forum for Collaboration
The Asia-Pacific Economic Cooperation (APEC) brings together 21 economies from the Pacific Rim, collectively representing more than 60% of the global GDP and roughly half of world trade. These economies include Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States, and Vietnam.
APEC aims to foster free trade, investment, sustainable growth, digital innovation, and economic inclusion by encouraging cooperation between governments and the private sector to strengthen prosperity in the region.
Mexico’s Role as APEC Host in 2028
Ebrard expressed his enthusiasm about Mexico’s role as the host, stating, “Mexico will be the host of APEC after many years. This will allow us to serve as a bridge between the Americas and Asia. The entire Pacific basin will be in Mexico in 2028.”
The decision to hold the summit in Mexico reflects the high regard in which the country is held by APEC members. Ebrard emphasized, “The fact that they voted in favor of Mexico hosting in 2028 speaks to the importance they attribute to our nation.”
Mexico-US Relations and Progress on T-MEC
During his visit to South Korea, Ebrard also held separate discussions with high-ranking US officials, including Secretary of Commerce Howard Lutnick, Secretary of the Treasury Scott Bessent, and Trade Representative Jamieson Greer.
“We are making progress in our conversations with the United States. Every week, we need to keep advancing, and we have managed to take some new steps,” Ebrard commented.
He further added, “We had a good conversation about how we will move forward in the coming weeks… it is very likely that we will meet again in Washington in the coming days.”
Ebrard highlighted that there has been significant progress in reviewing the topics both countries had agreed to examine to address any irritants or differences that might hinder the T-MEC review in 2026.
Key Questions and Answers
- What is APEC? The Asia-Pacific Economic Cooperation (APEC) is a regional forum that brings together 21 economies from the Pacific Rim to promote free trade, investment, sustainable growth, digital innovation, and economic inclusion.
- Why is Mexico hosting APEC in 2028 significant? Mexico’s selection as the host for the 2028 APEC Summit underscores the high regard in which the country is held by APEC members. This opportunity allows Mexico to act as a bridge between the Americas and Asia, fostering collaboration and strengthening prosperity in the region.
- What are Mexico and the US discussing? During recent discussions, Mexico and the United States have been addressing irritants or differences that might hinder the review of the United States-Mexico-Canada Agreement (T-MEC) in 2026. Both nations aim to make progress and strengthen their bilateral relationship.
