What is APEC & the APEC Economic Leaders’ Week (AELW)?
The San Francisco Host Committee is excited to host the APEC Economic Leaders’ Week (AELW), the final meetings of the APEC U.S. Host year.
Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC is the premier platform for the U.S. to advance economic policies in the Asia-Pacific region to promote free, fair, and open trade and investment and advance sustainable and inclusive economic growth. In 2023, the United States is chairing APEC. San Francisco will be the Host City for the AELW in November. APEC meetings throughout this year have focused on regional economic issues, including sustainability, digitalization, women’s economic empowerment, trade facilitation, energy security, food security, and health. In concluding APEC 2023, the AELW will bring 21 APEC Economic Leaders, ministers, the private sector, and other stakeholders together to engage on global challenges. U.S. APEC 2023 will be the most significant event with world leaders in San Francisco in recent history.
The 21 APEC Member Economies account for nearly 40 percent of the global population, nearly 50 percent of global trade, and more than 60 percent of U.S. goods exports. Additionally, these economies have made impressive direct investments in the United States estimated at 1.7 trillion dollars and employing 2.3 million American workers as of 2020.
“San Francisco has long been recognized as a gateway to the Asia-Pacific — and thanks to President Biden and Vice President Harris, we are proud to host the Leaders’ Meeting of the 2023 APEC Summit.”
- Nancy Pelosi, Speaker Emerita
Why San Francisco?
● San Francisco represents a story of resilience, innovation, and inclusivity, the core themes of APEC this year.
● With a GDP of 501 billion dollars, the San Francisco metropolitan area is the fourth largest economic region in the U.S. and an important hub in the global economy.
● We conduct a lot of business with APEC economies:
○ The SF Customs District logs 100 billion dollars from two-way shipping with APEC members annually.
○ Northern California firms sell up to 60 billion dollars of goods and services to APEC buyers each year.
○ The region is a source and destination for massive investment flows.
● We are a global city with many diverse and deep connections with APEC economies:
○ Asian Americans represent 33 percent of San Francisco’s total population.
○ San Francisco is a Sister City with Osaka, Seoul, Ho Chi Minh, Manila, Sydney, and Shanghai.
○ San Francisco’s Chinatown is the first and oldest in North America and one of the largest Chinese communities outside of Asia.
○ San Francisco currently hosts over 70 consulates, representing the government interests of virtually all major countries around the world, including 15 consulates of the 21 APEC Member Economies.
○ Many trade commissions have established offices in and around the City.
○ The San Francisco Bay Area is home to some of the biggest Fortune 500 companies in the world (Tesla, Uber, Salesforce, Pixar, Netflix, Lucasfilm, Levi Strauss, and some of the most innovative and forward-thinking industries (AI, biotech, software, clean tech, social media).
● SF is uniquely positioned on the edge of the Pacific and at the entrance to Silicon Valley. And, California has long been an economic and cultural bridge between the United States and Asia.
● San Francisco has spent generations building face-to-face, personal, unwavering business connections with the people of the APEC region. Those bonds, those roots, are strong and run deep.
○ San Francisco has a number of commercial service partners supporting export to and investment from the Asia-Pacific region including:
■ The Bay Area Council, a valued forum for stakeholder engagement and a respected source of information and fact-based analysis, the Institute is a trusted partner and adviser to both business leaders and government officials.
■ The Asia Foundation, founded and headquartered in SF, is a nonprofit international development organization committed to improving lives and expanding opportunities across Asia and the Pacific.
■ The Asian Business League, a nonprofit organization dedicated to the promotion of Asian Pacific American leadership in business. The League also provides opportunities to address issues Asian American professionals and Asian American-owned businesses face.