The Asia Pacific Economic Cooperation (APEC) was created in 1990 and has 21 member states, currently accounting for 40 percent of the worldÆs trade (Hill, 290). The aim of APEC is to increase multilateral cooperation due to the economic rise of the Pacific nations and the growing interdependence within this region. In 1994, APEC committed its industrialized members to
Hill. Regional economic integration. 266-312.
Update: NAFTA, job migration and the FTAA. Retrieved June 15, 2005 from:
o reduce tariffs and quotas to help increase trade between the two countries (Hill, 286). In 1990 it was extended to include Paraguay and Uruguay. The four countries entered a five-year plan to establish a free trade area and eventually a common market for their combined 20