APEC does not have a formal treaty, its decisions are taken by consensus and works based on non-binding declarations. It has a General Secretariat, headquartered in Singapore, which is in charge of coordinating the technical support and consulting. Each year one of the Member countries is guest of the annual meeting of the APEC. The Summit of the year 2007 was held in Australia and the 2008 Summit is important as Wikipedia review that Peru has been a full member of APEC since 1998. His involvement began in the meeting of Ministers in November of that year in Malaysia.
The entry of Peru in the Asia-Pacific economic cooperation (APEC) is due to the concerted efforts of the representatives of the Government and the business and academic communities. Peru developed a strategy that, along with visits by senior civil servants to the various Asian and Pacific economies, with the support of the members in order to achieve this end. Peru is the only Member of the Andean Community which is a member of APEC. Trade with economies APEC member has increased with time, and represents an important percentage of the Peru’s trade total Peru joined officially the Asia-Pacific economic cooperation forum in Malaysia in 1998 after the Summit leaders agree that the Peru is an economy progresses. In 2003, under the Presidency of Alejandro Toledo, the Peru was designated as the host country of the 2008 Summit. Since President Alan Garcia took up his post in 2006, he has held meetings with the Mayor of Lima Luis Castaneda Lossio, in order to prepare the city for meetings. Antedentes APEC is the only relevant intergovernmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC does not contain obligations to its members.