The impact of membership of the Asia-Pacific Economic Cooperation (APEC) on trade is comparable to that of a free trade agreement, even without a binding agreement, says a report released Monday by the APEC Secretariat. The report's analysis reveals that APEC members trade with each other more than they do with other free trading agreement partners and much more with trading partners who are both members of APEC and members of the World Trade Organization. (Singapore- APEC) MEXICO CITY -- Floods and heavy rain in Eastern and Southeastern Mexico had caused at least 90 oil and natural gas wells to stop working, Mexican authorities reported Sunday. Fernando Flores, manager of the Integral Asset of state-run oil company Petroleos Mexicanos (Pemex), said oil production dropped by 56.2 percent, from 60,000 daily barrels to 26,280 daily barrels. (Mexico-Flooding-Oil Production) QUITO -- The Ecuadorian government on Sunday belittled accusations from the United States and United Nations (UN) of collaborating with Iran's nuclear activities on the basis of an agreement between the Central Bank of Ecuador (BCE) and Export Development Bank of Iran (EDBI). BCE's President Carlos Vallejo told reporters that the agreement 'is limited to promote, boost and develop the commercial import and export ties between two countries.' (Ecuador-Iran) 