This project has been funded with support from the European Commission (226388-cp-1-2005-1-de-comenius-c21). This publication reflects the views only of the authors

5.2.1. European Union - EU

Established in 1951 as the European Coal and Steel Community by the six founding members, the EU chronologically has established a common market, common policies, a single market and finally a monetary union. Today, the EU has 27 member states and acts in a wide range of policy areas - economic, social, regulatory and financial - where its actions are beneficial to the member states. These include:

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  Solidarity policies (also known as cohesion policies) in regional, agricultural and social affairs and
  
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  Innovation policies, which bring state-of-the-art technologies to fields such as environmental protection, research and development (R&D) and energy.
  

Europe’s mission in the 21st century is to:

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  Provide peace, prosperity and stability for its people,
  
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  Overcome the divisions on the continent,
  
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  Ensure that its people can live in safety,
  
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  Promote balanced economic and social development,
  
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  Meet the challenges of globalization and preserve the diversity of the peoples of Europe,
  
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  Uphold the values that Europeans share, such as sustainable development and a sound environment, respect for human rights and the social market economy.
  

As a regional integration the EU is ahead of a free trade agreement or a free trade association. Therefore it is not a catalyst for globalization but the globalization itself in all areas and European integration will continue in the fields in which the member states consider it is in their best interests to work together within the traditional EU framework (on issues like trade, globalization, the single market, regional and social development, research and development, measures to promote growth and jobs and many others).

5.2.2. Asia-Pacific Economic Co-Operation - APEC

Since its inception in 1989, the APEC region has consistently been the most economically dynamic part of the world. Today APEC has 21 members. APEC works in three broad areas to meet the Bogor Goals of free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies. Known as APEC's 'Three Pillars', APEC focuses on three key areas:

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  Trade and Investment Liberalization (reduces and eventually eliminates tariff and non-tariff barriers to trade and investment)
  
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  Business Facilitation (reduces the costs of business transactions, improves access to trade information and aligns policy and business strategies to facilitate growth, and free and open trade)
  
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  Economic and Technical Cooperation (proves training and cooperation to build capacities in all APEC Member Economies)
  

The outcomes of these three areas enable APEC member economies to strengthen their economies by pooling resources within the region and achieving efficiencies.
As a trade boosting integration, APEC is one of the reputable integrations that foster globalization.