APEC Advances Trade Agenda Ahead of Ministers’ Meeting in Suzhou
APEC economies met in Shanghai this week to advance work on regional trade and investment priorities ahead of the Ministers Responsible for Trade Meeting in Suzhou on 22–23 May, focusing discussions on economic integration, supply chain resilience, digital trade and efforts to reduce barriers to cross-border commerce.
At the APEC Committee on Trade and Investment meeting, officials discussed efforts to improve the movement of goods and services across borders, including work on paperless trade, digital customs procedures, supply chain connectivity and interoperability between digital trade systems.
“This Committee remains a key platform for advancing APEC’s trade and investment agenda at a time when the region continues to face economic uncertainty and evolving trade challenges,” said Julio Chan, Chair of the APEC Committee on Trade and Investment and APEC General Coordinator at Peru’s Ministry of Foreign Trade and Tourism.
“We must continue identifying areas of common interest and translate them into concrete initiatives that support a more connected, resilient and inclusive Asia-Pacific region,” Chan added.
Chan said the Committee’s work this year would focus on advancing progress toward the Free Trade Area of the Asia-Pacific agenda, further promoting the digitalization of trade processes and strengthening cooperation across APEC fora.
At the meeting, officials reviewed progress on efforts to advance economic integration in the region, including the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.
Economies also exchanged views on the World Trade Organization and the implementation of the WTO E-Commerce Agreement.
Officials discussed practical efforts to improve the movement of goods and services across borders, including work on customs digitalization, trade facilitation and supply chain performance.
Discussions also covered investment facilitation, transport and logistics connectivity, and cooperation to support more efficient and resilient supply chains across the region.
As digital technologies increasingly shape trade and business activity, economies reviewed ongoing work related to digital trade rules, artificial intelligence and cross-border digital cooperation.
Members also discussed initiatives aimed at strengthening workforce participation and inclusion, including work related to women’s economic empowerment, Indigenous businesses and access to assistive technologies.
The APEC Business Advisory Council updated officials on recommendations from regional business leaders, including calls to reduce trade and logistics costs, strengthen infrastructure connectivity and lower barriers affecting digital commerce and cross-border business activity. Business representatives also emphasized the importance of predictable trade conditions and resilient regional supply chains.
“APEC’s strength lies in its ability to bring economies together to identify practical areas of cooperation, particularly at a time when businesses and communities across the region are navigating a rapidly evolving trade environment,” Chan said.
“Through constructive and results-oriented discussions, we can continue turning shared priorities into initiatives that support a more connected, resilient and inclusive Asia-Pacific region,” he added.