	Introduction

Congress and the Executive Branch have historically identified the Asia Pacific Economic Cooperation (APEC) as an important organization to help promote the U.S. goal of liberalizing international trade and investment in Asia, and possibly the rest of the world. It is unclear, however, what role APEC will play in future U.S. trade policy in Asia. This was widely seen as a counterforce to the efforts of some members of the Association of Southeast Asian Nations (ASEAN) to pursue an alternative "Asian only" models for regional economic development that would exclude the United States. The uncertainty about the future role of APEC in U.S. trade policy comes just a year before the target deadline for the first of APEC's Bogor Goals—open trade and investment among the industrialized APEC members by 2010—and two years before the United States is scheduled to host the association's annual meetings in 2011. During the 1994 meetings in Bogor, Indonesia, APEC established the "Bogor Goals" of "free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and 2020 for developing economies." In 2008, Peru chose the theme, "A New Commitment to Asia-Pacific Development." Fifth, the APEC leaders "strongly support" the G20 pledge to refrain from raising new trade barriers during the next 12 months. After further discussion, the meeting was held on November 22. Outlook for Future APEC Meetings

The official theme for the 2008 APEC meetings in Lima was not only overshadowed by the global financial crisis, it also was superseded by thoughts about the impending milestone for the Bogor Goals in 2010. Japan, the host of the 2010 meetings, has indicated an interest in using the event to take stock of APEC's progress on achieving the Bogor Goals. APEC and International Trade

The primary goal of APEC is to foster international trade by means of trade and investment liberalization and facilitation. While the trade data appear to support the notion that APEC has promoted trade growth for its members, the results are not conclusive. Although APEC's exports and imports have grown at a faster rate than world trade figures since the creation of APEC, it is uncertain if its trade growth is the result of trade liberalization and facilitation, or caused by other economic factors. In general, observers focus on two methods by which APEC may help foster greater trade and investment liberalization. Also, there are oversight issues raised by U.S. participation in various APEC activities and, in particular, with respect to the 2011 APEC meetings to be held in the United States. In addition, Congress may consider expressing its preferences regarding the agenda and content of the 2011 APEC meetings to be held in the United States, possibly via appropriation legislation that provides funding for those meetings. In addition, the announcement made late in the Bush Administration that the United States was entering into negotiations with the Trans-Pacific Strategic and Economic Partnership (TPP) has brought into question U.S. commitment to APEC and its role in fostering a FTAAP. It is yet to be determined if the issue will be a high priority for the Obama Administration.
Congress and the Executive Branch have historically identified the Asia Pacific Economic Cooperation (APEC) as an important organization to help promote the U.S. goal of liberalizing international trade and investment in Asia, and possibly the rest of the world. APEC's commitment to the goal of trade and investment liberalization is embodied in its Bogor Goals, in which APEC members pledged to free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and 2020 for developing economies.
However, several alternative avenues for the promotion of trade integration in Asia have emerged, challenging the past U.S. focus on APEC. The Association of Southeast Asian Nations (ASEAN) is promoting the creation of various forms of an all-Asian free trade association that would exclude the United States. In addition, during its last few months, the Bush Administration indicated its intention to enter into negotiations with the Trans-Pacific Strategic Economic Partnership Agreement (TPP), an existing free trade agreement between Brunei Darussalam, Chile, New Zealand, and Singapore.
In November 2008, APEC held its annual Leaders' Meeting in Lima, Peru. Although the official theme for the meeting was "A New Commitment to Asia-Pacific Development," global economic events overshadowed the event, focusing discussion on resisting protectionist pressures and expediting economic recovery. In their joint meeting statement, the APEC leaders stated that they thought their economies would recover within 18 months. They also expressed their support for the G20 commitment to refrain from erecting new trade barriers for at least 12 months.
The next three years may be a critical period for APEC and its achievement of the Bogor Goals. The 2009 meetings are to be held in Singapore, traditionally a strong supporter of APEC and trade and investment liberalization. Japan is scheduled to be the host of the 2010 meetings—the target year for APEC's industrialized members to achieve the Bogor Goals. The United States will host the 2011 meetings.
Historical trade data is consistent with the premise that APEC has been successful in promoting greater trade within its member economies and with the rest of the world. Both the exports and imports of APEC members have grown faster than global trade since the creation of APEC. However, APEC's greater trade growth may be attributable to other factors than the liberalization of trade and investment policies among its members.
The 111th Congress has an opportunity to reexamine U.S. policy towards APEC. It has already increased APEC-related funding in FY2009, in part to provide for the preparations for the 2011 APEC meetings to be held in the United States. In addition, there are other actions Congress may chose to take with respect to APEC, depending on its determination of APEC's role for trade promotion initiatives in Asia. Congressional attitudes and actions may also be influenced by the Obama Adminstration's trade policies in Asia—and the role APEC plays in those policies.
This report will be updated as circumstances warrant.