This report identifies the challenges and opportunities for trade and investment in the Asia-Pacific region concluding that with the right policies and strengthened regional cooperation, the region will be able to continue strong trade- and investment-led growth. With the continued stalling of the international Doha Round of negotiations, regional trade agreements remain an important approach to controlling protectionism. A fresh look at the rules under these agreements is recommended. The report emphasises that governments need to step up efforts to improve the environment for business and investment.