At this meeting Leaders set priorities for APEC and make the key decisions that are then implemented by ministers and officials from each economy.
APEC's agenda is multi-faceted and comprehensive, and is strongly supported by the private sector through its business arm the APEC Business Advisory Council (ABAC).
Each year business, through the CEO Summit, provides APEC's Leaders with recommendations aimed at assisting the private sector to be more competitive and efficient.
This year's Leaders' meeting and CEO Summit will be held in Lima, Peru in November. Peru will be leading the effort to promote economic and trade relations between Asia and Latin America.