Part One of the Osaka Action Agenda has clarified the implications of the basic political commitment to free and open trade and investment in the Bogor Declaration and has set out operational guiding principles and a well-developed strategy of implementation. This paper seeks to build on the broad concepts set in Part Two of Osaka Agenda to clarify the implications of the shared commitment of APEC leaders to development cooperation. From the concepts put forward by the APEC Eminent Person Group and the proposal of Partners for Progress, precise objective, guiding principles and priorities can be set out for the implementation of a realistic and balanced strategy for development cooperation.