You can still obtain the APEC Business Travel Card (ABTC), as long as there are other economies that have approved your application. In this case, your card will not bear the economy code of the economies that have rejected your application, and you are not eligible to enjoy the facilities provided by these economies when you travel there. Your entry to that economy will be subjected to their prevailing requirements, which may include having to apply for an entry visa.

This information is sourced from ICA