ABSTRACT
From the perspective of Association of Southeast Asian Nations (ASEAN) members, Asia-Pacific Economic Cooperation (APEC) is an important perhaps the most important pillar of the regional architecture for the post-Cold War peace and prosperity of the Asia-Pacific region. Participants in the APEC ministerial meeting in Jakarta in November 1994 agreed to adopt the APEC Nonbinding Investment Principles (NBIP) after a compromise was reached at the eleventh hour. In deciding how to implement the APEC vision, consensus must be reached on two fronts: first on the modality for trade liberalization within the group, and second on the principles for extending the group's liberalization to outsiders. APEC has successfully formulated a strategy for implementing the Bogor Declaration, as manifested in the Osaka Action Agenda and the Manila Action Plan. Of crucial importance for the process is the seriousness with which APEC members implement their commitments, both the individual action plans and the collective action plans.
