APEC Ministers Chart Course for Open Trade Amid Rising Protectionism

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.

Opening the meeting, Li Chenggang, Vice Minister of Commerce, People’s Republic of China, said changes unseen in a century are unfolding at rapid speed with protectionism on the rise and risks of trade fragmentation increasing across the region.

“In the face of these complexities, APEC economies have demonstrated their resolve to jointly uphold the regional economic and trade order," Vice Minister Li said.  

“APEC has played an important role in supporting regional economic cooperation and helping economies navigate periods of uncertainty,” Vice Minister Li said, noting that around 60 percent of active regional trade agreements originate within the Asia-Pacific.”

Vice Minister Li outlined three responsibilities for APEC economies to navigate the current challenging economic landscape, emphasizing the need for cooperation to ensure the region’s economic resilience and growth.

First, APEC economies must stay true to their founding mission, noting that trade and investment liberalization has always been the region's way forward through previous crises, from the Asian financial crisis to the global financial crisis.

"It becomes ever more necessary for us to seek common ground, respect differences and overcome our difficulties together, injecting confidence into the world economy," he added.

Second, acknowledging that APEC economies are at different stages of development with varying interests, the value of APEC lies in bringing economies with different interests together.

"We must abandon zero-sum thinking and find the greatest common denominator through an objective, rational and pragmatic approach," Vice Minister Li noted.

On the pathways for cooperation, Vice Minister Li stressed that while APEC is not a negotiating venue, it must take the lead in trade and economic discussions and bring regional trade rules toward greater consensus.

"For agreements already established, we should implement them at a faster speed for early outcomes. For existing differences, we need flexibility and progress in building consensus," he added.

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 update 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 create 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," Vice Minister Li concluded.