More than 20 member-states of the Asia-Pacific Economic Commonwealth (APEC) will present approximately 1,000 business plans during the APEC economic forum which will be the first to be held in Russia. The forum will take place in September 2002, in Vladivostok, Russia's main city on the coast of the Sea of Japan. This information was unfolded by Sergei Darkin, the head of the Maritime Territory's administration. He added that the territorial administration would pay particular attention to large-scale investment projects dealing with wood and fishing industries, as well as bio-technology. In order to guarantee investments in the economy of the Maritime Territory, the organisational committee of the APEC forum has developed a mortgage fund. The APEC intergovernmental forum has been working since 1989. One of its primary objectives is to develop economic cooperation between the countries of the Asia-Pacific region. Russia joined the APEC in 1998.