emirates7 - Keeping trade flowing in an increasingly uncertain global environment took center stage as trade ministers from APEC’s 21 member economies met in Suzhou on Friday, with discussions focused on strengthening cooperation, supporting an open and rules-based trading environment and ensuring the region remains a driver of growth and opportunity.
Hosted in Suzhou, the meeting brought ministers together at a time when shifts in trade patterns, supply chains and technology are reshaping the global economy, reinforcing the need for practical cooperation to address shared challenges.
Ministers discussed restoring trust in the multilateral trading system, with focus on advancing the Free Trade Area of the Asia-Pacific (FTAAP) to keep the region economically integrated despite global fragmentation.
Ministers also received an from Dr Ngozi Okonjo-Iweala, Director-General of the WTO on developments following the Fourteenth Ministerial Conference (MC14) in Yaoundé, Cameroon. She highlighted the risks to the global economic outlook, noting that further geopolitical tensions and rising oil prices could add pressure to trade flows, supply chains and growth prospects.
As artificial intelligence reshapes global commerce, ministers also examined how APEC economies can harness digital trade and cross-border e-commerce to new opportunities, particularly for small and medium enterprises struggling to compete in an increasingly tech-driven market. Standards coordination and trade facilitation are central to unlocking artificial intelligence's potential for all within the Asia-Pacific.
Ministers also discussed efforts to support more resilient and sustainable supply chains, including through cooperation on low-carbon technologies and approaches that can help economies pursue growth while advancing sustainability goals.
"This meeting will send a strong signal to the world that APEC upholds and advances multilateralism, strengthening confidence in Asia-Pacific cooperation and providing meaningful contributions to the Leaders' Meeting in Shenzhen later this year," Li Chenggang, Vice Minister of Commerce, People’s Republic of China, said.
Hosted in Suzhou, the meeting brought ministers together at a time when shifts in trade patterns, supply chains and technology are reshaping the global economy, reinforcing the need for practical cooperation to address shared challenges.
Ministers discussed restoring trust in the multilateral trading system, with focus on advancing the Free Trade Area of the Asia-Pacific (FTAAP) to keep the region economically integrated despite global fragmentation.
Ministers also received an from Dr Ngozi Okonjo-Iweala, Director-General of the WTO on developments following the Fourteenth Ministerial Conference (MC14) in Yaoundé, Cameroon. She highlighted the risks to the global economic outlook, noting that further geopolitical tensions and rising oil prices could add pressure to trade flows, supply chains and growth prospects.
As artificial intelligence reshapes global commerce, ministers also examined how APEC economies can harness digital trade and cross-border e-commerce to new opportunities, particularly for small and medium enterprises struggling to compete in an increasingly tech-driven market. Standards coordination and trade facilitation are central to unlocking artificial intelligence's potential for all within the Asia-Pacific.
Ministers also discussed efforts to support more resilient and sustainable supply chains, including through cooperation on low-carbon technologies and approaches that can help economies pursue growth while advancing sustainability goals.
"This meeting will send a strong signal to the world that APEC upholds and advances multilateralism, strengthening confidence in Asia-Pacific cooperation and providing meaningful contributions to the Leaders' Meeting in Shenzhen later this year," Li Chenggang, Vice Minister of Commerce, People’s Republic of China, said.
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