APEC Canada 1997 was a series of Asia-Pacific Economic Cooperation meetings focused on economic cooperation, held in Vancouver on 24–25 November 1997. It was the fifth APEC meeting in history and the second held in the Americas. Though discussions also involved the admission of Peru, Russia and Vietnam into the organization (as of 2010 these countries remained APEC's newest members), the meeting focused on development in Asia-Pacific countries and its implications for the world's economy. The role of the IMF was also discussed, as was the need to strengthen global cooperation with respect to economic activity (EVSL initiative - tariffs), customs procedures and emergencies.47% of world trade is done by APEC members. The first day of the meeting was November 24, 1997.