Correct Answer:
B. 1989
APEC, which stands for Asia-Pacific Economic Cooperation, is a vital inter-governmental forum that promotes free trade and economic cooperation throughout the Asia-Pacific region. Understanding its establishment date is key to comprehending its historical context and evolution.
- APEC was established in 1989. This is the correct answer. It was founded in Canberra, Australia, in November 1989, in response to the growing interdependence of Asia-Pacific economies and the need for a forum to discuss economic cooperation.
- 1985 is incorrect. While regional economic discussions were ongoing, APEC as a formal entity did not exist yet.
- 1991 is incorrect. By 1991, APEC was already operational and had held several ministerial meetings, beginning to expand its membership and scope.
- 1995 is incorrect. By 1995, APEC had significantly matured, having already hosted its first Leaders' Meeting in 1993 and established the Bogor Goals for free and open trade and investment by 2020.
The establishment of APEC in 1989 marked a significant step towards regional economic integration and cooperation in the Asia-Pacific.