Foreign investment liberalization among member economies has been a main objective for the Asia-Pacific Economic Cooperation (APEC).The Committee on Trade and Investment (CTI) has made efforts to improve the openness of investment through various approaches. The main objective of this study is to explore a strategy for the APEC economies to achieve further liberalization of investment by evaluating the general performances of the two investment instruments: Non-Binding Investment Principles (NBIPs) and Individual Action Plans (IAPs). In this paper we have showed that there are Various degrees to which twelve NBIPs were adopted in the bilateral investment and trade agreements. Some provisions were well incorporated while some others were not fully adopted. When we evaluate the cumulative improvements that appeared in the IAPs, the overall impression was disappointing. The performance of the individual economies looked even more disappointing. These may imply that the APEC's overall efforts to provide a more liberal investment environment were neither effective nor sufficient. In this paper, several policy recommendations for enhancing the effectiveness of the APEC investment liberalization process have been provided: the NBIPs must be improved; the menu of options needs drastic improvement and the process to evaluate progress needs substantial improvement.