APEC reveals unity

SINGAPORE: The impact of membership of the Asia-Pacific Economic Cooperation (APEC) on trade is comparable to that of a free trade agreement, even without a binding agreement, says a report released by the APEC Secretariat.

The report's analysis reveals that APEC members trade with each other more than they do with other free trading agreement partners and much more with trading partners who are both members of the APEC and members of the World Trade Organization.

This, say analysts, demonstrates the high level of de facto integration between members of the APEC, even under non-binding arrangements.