Representatives of Australia, Brunei Darussalam, Canada, the People's Republic of China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Chinese Taipei, Thailand, and the United States of America, meeting in Bangkok on 10–11 September 1992 at Ministerial level,

Reaffirming the basic principles adopted by Ministers in Canberra on 67 November 1989, in Singapore on 30–131 July 1990 and in Seoul on 12–14 November 1991;

Determined to pursue the objectives of APEC as stated in the Seoul APEC Declaration to

(a) sustain the growth and development of the region for the common good of its peoples and, in this way, to contribute to the growth and development of the world economy;

(b) enhance the positive gains, both for the region and the world economy, resulting from increasing economic interdependence, including by encouraging the flow of goods, services, capital and technology;

(c) develop and strengthen the open multilateral trading system;

(d) reduce barriers to trade in goods and services and investment among participants in a manner consistent with GATT principles, where applicable and without detriment to other economies; and

Recognizing that the rapidly growing activities of APEC since its inception have increased the need for a support mechanism to facilitate and co-ordinate APEC activities in order to strengthen APEC's role and enhance its efficiency in promoting regional economic co-operation, hence the need to establish an APEC Secretariat and an APEC Fund;

Do hereby declare as follows:

SECRETARIAT

1. Establishment of the APEC Secretariat

(a) An APEC Secretariat is established as a support mechanism to facilitate and co-ordinate APEC activities, provide logistical and technical services as well as administer APEC financial affairs under the direction of the APEC Senior Officials' Meeting (APEC SOM).

(b) The APEC Secretariat will be empowered to act on behalf of APEC members under the direction of Ministers as communicated through the APEC SOM.