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
removing their trade and investment barriers by 2010, and for developing economies to do so by 2020, and is even talking of creating a free trade area.
The Association of Southeast Asian Nations (ASEAN) was formed in 1967 with the aim of fostering freer trade between member countries and achieving cooperation in their industrial policies. Member countries are Brunei, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and Laos.
Whether or not these regional economic arrangements benefit all nations is questionable. For instance, many would disagree that NAFTA was beneficial to either side (Update, 2004). At its 10th anniversary in 2004, studies showed that while NAFTA generated substantial manufacturing jobs in Mexico, it put hundreds of thousands of subsistence farmers out of work, and cost U.S. workers more than 2 million jobs, while increasing the U.S. trade deficit with Mexico. Whether or not other nations benefitted has not been determined.
Hill. Regional economic integration. 266-312.
The European Union at a glance. Retrieved June 12, 2005 from:
Update: NAFTA, job migration and the FTAA. Retrieved June 15, 2005 from: