In 1994, APEC Leaders committed to achieving the ‘Bogor Goals’ of free and open trade and investment by 2020 through reducing trade barriers in the region and promoting the free flow of goods, services and capital among APEC economies. Since then, members have made measurable progress in achieving these goals. APEC’s Trade Facilitation Action Plan which includes streamlining customs procedures reached its target of region-wide reduction in costs at the border by 5 per cent between 2004 and 2006. A further 5 per cent decrease was achieved between 2007 and 2010, which saved businesses in the Asia-Pacific a total of USD 58.7 billion. Over time, the APEC agenda has broadened its focus to address behind-the-border barriers such as improving regulatory practices and the local business climate