APEC, then, apparently follows rather than leads in the global trading system. In two fundamental ways, however, APEC and the WTO are very different institutions. First, unlike the WTO, APEC is not a negotiating body. There are no trade deals, treaties or agreements. Second, following the lead of its Southeast Asian members, APEC operates on the principle of consensus.
Any member can block an initiative or even discussion of an issue.
While the WTO is often beset by shrill debate, discussions at APEC are skewed towards non-contentious issues. Nonetheless, lacking the adrenaline of high-stake trade negotiations, APEC has delivered little in the way of specific new commitments. Indeed, the real action of APEC is rooted as much in domestic political economy as it is in regional relations. Like the push toward trade liberalization, pressures to develop an environmental agenda have come from APEC's Western countries, especially the U.S. and Canada. The first Ministerial, held in 1994 in Vancouver, generated a set of Principles for Integrating the Economy and the Environment.