Regional Integration
APEC Regional Integration
Asia-Pacific Economic Cooperation (APEC) is the premier opportunity for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC promotes global business and there are several advantages and disadvantages of this regional integration. APEC was established in 1989 at the suggestion of Australia, to further enhance economic growth, prosperity and strength for the Pacific Rim area. APEC consists of twenty-one countries. Decisions made within APEC are reached by consensus and commitments that are undertaken on a voluntary basis. APEC has no treaty obligations required of its participants and it represents the most economically dynamic region in the world having produced nearly seventy percent of the global economic growth in its first ten years (APEC, 2006). APEC works in large areas of trade and investments to help the member economies grow and prosper.
The goal of regional integration is to encourage the reduction of......
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