Spanning 20 years of history, the achievements of APEC may seem uneventful in the eyes of some observers. Yet careful deliberation will point to APEC's many remarkable high points as well as some of the challenges. The foundations of APEC were set in place about 40 years ago based on the achievements of the Association of Southeast Asian Nations (ASEAN) and the Pacific Economic Cooperation Council (PECC). One of the cornerstones of APEC's vision is to achieve a free and open trade area among its member economies. This vision is anchored in the Bogor Goals that remain the centrepiece of the APEC process. The Bogor Goals represent a cause for celebration as well as angst. Celebration because the region has moved towards achieving a much more liberalized environment of trading and investment since 1989, angst because the deadlines for achieving the goals have not yet been fully realized. Today, APEC embraces many of the world's dynamic developed and developing economies that are better poised to meet the new challenges of this century. For those seeking to get a quick sweep of APEC, this book recalls, reflects and provides enough food for thought on the possible remake of APEC. The chapters are carefully written by experts who have been directly involved in the APEC process one way or another. The invaluable insights serve to place the whole APEC process in a balanced perspective, yet with candid deliberations.

Papers presented at a workshop held by the Indian Council for Research on International Economic Relations, New Delhi, in March 2006.

APEC is a crucial trans-regional arrangement that draws the US into constructive economic engagement with East Asia. This book makes it clear why APEC remains such a crucial element of regional economic architecture and defines an agenda doing forward to which regional leaders should aspire.

Are international and Asian regional institutions serving the development goals of Asian and Pacific Economies as well they should? The global economy, led by the Asia Pacific region, has undergone immense change and growth. Have the existing institutions and arrangements been able to keep pace with those changes in the global economy? International Institutions and Asian Development tackles these questions and is an essential book for the assessment of regional and international institutions, as well as policy prescriptions for reforming them to ensure they deliver on sustainable, peaceful growth and development in the region. Drawing from papers presented to the 32nd Pacific Trade and Development conference in Hanoi in 2007, the contributions by distinguished authors add to the understanding of the purpose, evolution, relevance and gaps in regional and global institutions and their arrangements. Shiro Armstrong is a Research Fellow at the Crawford School of Economics and Government at the Australian National University. Vo Tri Thanh is Director of the Department for International Economic Integration Studies of the Central Institute of Economic Management in Vietnam