APEC trade ministers meet in China to discuss US protectionism

Tokyo (ANTARA) - Trade ministers from 21 economies members of the Asia-Pacific Economic Cooperation (APEC) gathered in Suzhou, China, on Friday 22 May amid concerns over rising unilateralism and the US government’s ‘America First’ protectionism agenda.

In the two-day forum, APEC trade officials discussed efforts to push free trade in the Asia-Pacific region and deepen collaboration on AI-based digital transformation.

China, as APEC chair this year, hopes the meeting can contribute to the Leaders’ Summit of APEC scheduled to be held in Shenzhen, China, in November.

China’s chief trade negotiator Li Chenggang said the world is currently undergoing an ‘accelerating’ change unseen in the last century.

‘Unilateralism is rising rapidly and the global economy is being seriously affected,’ Li said in his opening address.

‘The storms are becoming more severe; the more we must cling to efforts to find common ground,’ he added, urging APEC members to overcome difficulties and restore confidence in the global economy.

Li also emphasised that the value of APEC lies in its ability to unite economies with diverse needs, move away from a win-lose mindset, and jointly explore interests through an objective, rational, and pragmatic approach.

The 21 APEC economies include the United States, China, Japan, South Korea, Russia, Southeast Asian countries including Indonesia, and Latin American countries.

From Japan, Trade Minister Ryosei Akazawa and Senior Deputy Foreign Minister Iwao Horii attended the meeting.

Tensions between China and Japan remain high following Japanese Prime Minister Sanae Takaichi’s statements about the possibility of a conflict over Taiwan in November last year.

Before the session began, Akazawa said he was ready to discuss a range of issues with Chinese Trade Minister Wang Wentao if given the chance.