The article explores the concept of 'open regionalism' in Asia Pacific and Latin America. It looks at how regionalism can help improve multilateralism and deepen integration within regions. The rapid economic growth in Asia has led to increased trade and investment, while Latin America has also seen stronger intra-regional connections. The impact of recent economic crises on production, trade, and investment is discussed, along with the benefits and challenges of 'deep' integration. The article also considers new trade issues and the implications of past commitments on development. Developing countries are interested in new opportunities for regional cooperation and agreements.