The adoption of GRP allows for the elimination of regulatory variances and promotion of
regulatory coherence and transparency. Regulatory coherence allows for the optimal regulatory
environment to lower the costs of doing business, improve supply chains and strengthen regional economic integration. In 2005, APEC collaborated with the OECD to develop the “APEC-OECD Integrated Checklist on Regulatory Reform” in order to promote the implementation of the APEC and the OECD principles by building domestic capacities for quality regulation. The Checklist was created to serve as an indicative tool to be used by member economies to self-assess their respective regulatory reform as well as its supporting regulatory, competition, and market openness policies.