ABSTRACT

In 1994, the Asia Pacific Economic Forum (APEC) countries introduced one of the most significant initiatives of free and open trade and investment in the region. Since then, thanks to progressive trade and investment liberalization, East Asia has become a more open economic region. Goods, services and, to a certain extent, factors move freely between countries in the region. The gradual removal of border measures has brought economic benefits, as testified by rapid economic growth in the region.