Malaysia to host APEC summit in 2020

Malaysia is to host the Asia- Pacific Economic Cooperation (APEC) summit in 2020, by which year the Southeast Asian nation has vowed to become a developed country. Malaysian Prime Minister Najib Razak, who just completed his itinerary to the APEC summit in Vladivostok, Russia, confirmed the schedule to Malaysian media, on Sunday. "It just happens to be our turn but it's a very auspicious year for us," he said quoted by the local Star Newspaper. Malaysia's former prime minister Mahathir Mohamad has set the year 2020 for the country to become a developed country. The 1998 APEC summit was held in Malaysia. The summit will be held in Bali, Indonesia, next year and in China in 2014. The Philippines and Peru will be host in 2015 and 2016 respectively.