(1) transparency: (2) non-discrimination: and(3) national treatment: are perceived to be of benefit to all APEC participants. Close adherence to the voluntary code can be expected, since those economies which do follow it are likely to be relatively more successful in attracting foreign investment. As the benefits of further clarification and convergence of investment policies is recognized to be in the interests of Asia Pacific governments, the scope and coverage of the voluntary code is likely to be increased. It will also be possible for some group of participants to endorse more detailed or code others. Those who do not wish to do so would not gain the advantages of