This study examines in both theoretical and empirical terms the interaction between trade and investment liberalization on a subregional basis through agreements such as NAFTA, AFTA and CER as well as through informal “growth triangles” and more broadlybased liberalization through APEC and the WTO.

• Foreword
• Executive Summary
• Chpater 1: Introduction
• Chapter 2: Issues Raised by Subregional Trade Arrangements
• Chapter 3: Subregional Trade Arrangements in APEC
• Chapter 4: Contribution of SRTAs & Growth Triangles to Trade Liberalization
• Chapter 5: Prospects for SRTAs & Growth Triangles
• Chapter 6: Conclusions