Pacific Economic Cooperation Council (PECC) was established in 1980 through the initiative of Mr. Masayoshi Ohira and Mr. Malcolm Fraser, former Prime Ministers of Japan and Australia, respectively. The first seminar of PECC, where each delegation comprised representatives from government, business, and academia, was held in September 1980. The seminar was held in Australia and called for the establishment of an independent and unofficial regional mechanism to address regional economic issues and advance economic cooperation and market-driven integration without formal government policies or regulation. The meeting was attended by 11 countries (Australia, Canada, Indonesia, Malaysia, Japan, Korea, New Zealand, the Philippines, Singapore, Thailand and the United States), Pacific Island states (Papua New Guinea, Fiji and Tonga), and representatives from the Asian Development Bank, PBEC, and PAFTAD.
PECC aims to serve as a regional forum for cooperation and policy coordination to promote economic development in the Asia-Pacific region. PECC currently has 26 Member Committees including 22 Full Members, two Associate Members, and two Institutional Members from Asia-Pacific region.
PECC and its member Committees compose a tripartite partnership of senior individuals from government, business, and academia. This makes PECC a unique, policy oriented organization. PECC aims for policy coordination and economic cooperation in the fields including finance, trade, and investment.
PECC Organizational Structure
General Meeting
The PECC General Meeting is held once a year and is one of the major international conferences invloving Presidents and/or Prime Ministers, senior government officials, experts, and business leaders from member committees of the Asia-Pacific region. They meet to discuss the main economic issues of the region and set goals for the future based on PECC research activities.
Standing Committee
The Standing Committee is the governing body of PECC and meets once a year. It consists of all of the 22 Full Member Committees, two Institutional Members, and Associate Member Committees as invited in a limited capacity. The Chair of the Standing Committee is elected to a 3 year-term and Dr Charles E. Morrison, chair of the informal PECC group of the US Asia Pacific Council, was elected as the current international chair in 2005.
Executive Committee
The Executive Committee is a subset of the Standing Committee and consists of 11 members plus the Secretary General in an ex officio capacity. The committee oversees the day-to-day work of PECC including the selection of task forces and the evaluation of the work programs.
Member Committees
Member committees initiate and/or participate in PECC work programs while also having their own activities.
Task Forces
Task Forces are the primary mechanisms for PECC work programs. Each work group is composed of representatives from member committees and, where applicable, other invited institutions and/or individuals.
International Secretariat
The PECC International Secretariat is located in Singapore. The Secretariat coordinates the work of member committees and provides committees with information. Each member committee contributes to PECC's funding according to their economic strength and GDP ratio. The following table shows the amount of each committee's contributions.
The State of the RegionReport and its predecessor, Pacific Economic Outlook (PEO), provide annual economic forecasts for the region covered by the Pacific Economic Cooporation Council (PECC). Prepared by leading economists from each member economy, the reports provide timely and authoritative information for policy makers, business and the research community.
About PECC 
