Philippines is going to host 2015 Asia-Pacific Economic Cooperation (APEC) summit from 18–19 November 2015 in its capital city Manila for the first time in nearly two decades. Theme of 2015 APEC Summit: “Building Inclusive Economies, Building a Better World”. Under this theme, Philippines is going to push for inclusive growth and highlight the role of small and medium enterprises (SMEs) which account for more than 97 per cent of businesses in APEC economies.  APEC is regional economic forum comprising of 21 member countries accounting nearly half of the world’s trade and about 57 per cent of global gross domestic product (GDP). It was established in 1989 in order to leverage the growing interdependence of Asia-Pacific region’s economies and promote free trade in the region. It is headquartered in Hong Kong. India is observer of APEC since 2011 and has applied for membership.
About Asia-Pacific Economic Cooperation(APEC)It is a is the premier Asia-Pacific economic forum.
Established:1989
Headquater:Singapore
Aim: to support sustainable economic growth and prosperity in the Asia-Pacific region.
Members: 21 members.Currently India is not a member but has approached for the membership.
Achievements and benefits: 
1. 7 times increase in trade in goods and services during 1989 and 2010.
2. Huge lowering of tariffs between counteries as it promotes free trade policy.
3. Made trade across border cheaper and faster.
4. Improving business climate.
 Priorities in 2015:
1. Enhancing the Regional Economic Integration Agenda
2. Fostering Small and Medium Enterprises’ Participation in Regional and Global Markets
3. Investing in Human Capital Development.
4. Building Sustainable and Resilient Communities.