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Abstract: With the “globalization” of production, firms need to be able to operate in other economies, exploiting their advantages, enabling them to remain internationally competitive. Today, the focus of attention, in the international trading system, is shifting to measures that affect the ability of foreign firms to invest and conduct business in national economies, to the openness of markets to global competition. However such measures are broached, governments cannot get away from deciding unilaterally whether, when, and how to deregulate, creating an internationally attractive business environment. Asia has benefited much from foreign direct investment, not regional trade negotiations, and APEC should adhere to non-discrimination as its guiding principle.