In addition, the decades of accelerated globalization have witnessed the development of several intercontinental transregional initiatives. For instance, as its name suggests, the North Atlantic Treaty Organization (NATO) has spanned North America and Europe since its creation in 1949. Meanwhile the Organization for Security and Cooperation in Europe (OSCE) has come to link 55 participating states from Central Asia, Europe and North America. In the Southern Hemisphere 23 states of Africa and South America have since 1986 formed a Zone of Peace and Cooperation of the South Atlantic with periodic ministerial meetings. Asia-Pacific Economic Cooperation (APEC) with 21 Member Economies has been pursued through multiple meetings and forums since 1989.