APEC paves the way for greater regional connectivity

For more than a decade, the business sector has been telling governments to shift the focus of regional economic integration. Dealing with across-the-border problems of connectivity and behind-the-border problems caused by needless differences in economic regulations is now more important to business than further liberalisation of border barriers to trade or investment. A recent report by the World Economic Forum concludes that reducing supply chain barriers to trade could increase world GDP ‘over six times more than removing all tariffs’.