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Spanning 20 years of history, the achievements of APEC may seem uneventful in the eyes of some observers. Yet careful deliberation will point to APEC's many remarkable high points as well as some of the challenges. The foundations of APEC were set in place about 40 years ago based on the achievements of the Association of Southeast Asian Nations (ASEAN) and the Pacific Economic Cooperation Council (PECC). One of the cornerstones of APEC's vision is to achieve a free and open trade area among its member economies. This vision is anchored in the Bogor Goals that remain the centrepiece of the APEC process. The Bogor Goals represent a cause for celebration as well as angst. Celebration because the region has moved towards achieving a much more liberalized environment of trading and investment since 1989, angst because of the deadlines for achieving the goals have not yet been fully realized. Today, APEC embraces many of the world's dynamic developed and developing economies that are better poised to meet the new challenges of this century. For those seeking to get a quick sweep of APEC, this book recalls, reflects and provides enough food for thought on the possible remake of APEC. The chapters are carefully written by experts who have been directly involved in the APEC process one way or another. The invaluable insights serve to place the whole APEC process in a balanced perspective, yet with candid deliberations. K. Kesavapany is Director of the Institute of Southeast Asian Studies (ISEAS) and Director of the Singapore APEC Studies Centre at ISEAS. Prior to 2002, Ambassador Kesavapany was Singapore's High Commissioner to Malaysia. In his 30-year career in the Foreign Service, he served as Permanent Representative to the United Nations in Geneva from December 1991 to March 1997, and has held key appointments in the Ministry of Foreign Affairs (MFA), Singapore. He was an active participant in the final phase of the Uruguay Round negotiations where he was elected the first Chairman of the WTO's General Council in 1995. He was also involved in the first APEC Senior Officials Meeting and the PECC process at the MFA, Singapore Hank Lim is currently Director for Research at the Singapore Institute of International Affairs (SIIA). Prior to joining SIIA, Dr Hank Lim was a faculty member at the Department of Economics, National University of Singapore. He ahs extensive experience and exposure in international and regional cooperation issues. His areas of specialization include ASEAN, APEC and East Asian economis. He was the first Singapore Representative to the APEC Eminent Persons Group (EPG). From 1990 to 1993, he served as the first Director-General of the Pacific Economic Cooperation Council (PECC) International Secretariat in Singapore. Dr Lim has received numerous awards, including a Fulbright Fellowship and Japanese Ministry of Finance Foundation of Advanced Information Research (FAIR) award. He was appointed as an Expert for the APEC IAP Review of China in 2004 and of the Philippines in 2009.