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Yang Weifu, Executive Vice Secretary of the Ministry of Economic Affairs, attended the APEC Trade Ministers' meeting.

Published: 2024-09-16 Author: mysheen

Last Updated: 2024/09/16, The 22nd APEC Trade Ministers' meeting was successfully held in Arequipa, Peru, on May 17-18. My delegation is led by Yang Weifu, Executive Deputy Secretary of the Ministry of Economic Affairs, to promote the Asia-Pacific economy together with economic and trade ministers of 20 other member countries.

The 22nd APEC Trade Ministers' meeting was successfully held in Arequipa, Peru, on May 17-18. Our delegation was led by Yang Weifu, executive vice minister of the Ministry of Economic Affairs, to exchange views with economic and trade ministers of other 20 member countries on issues such as promoting economic recovery in the Asia-Pacific region and giving consideration to high-quality growth.

The theme of this year's APEC is "quality growth and Human Development". The Trade Ministers' meeting focuses on "Regional Economic Integration" and "internationalization of Micro small and medium-sized Enterprises".

In the section on "Regional economic integration", WTO Secretary-General Roberto Azev ê do stressed that members should implement the commitments of the Bali package and the Nairobi package, and many members pointed out that emerging issues such as e-commerce, investment, competition, global value chains and the development of small and medium-sized enterprises should be included in the agenda of the negotiations.

Secondly, with regard to the promotion of Free Trade area of Asia and the Pacific (FTAAP), members believe that APEC is the nurturing field (incubator) of FTAAP, and the time limit for APEC to achieve the Bogor goal is 2020, and it is necessary to set new targets for the next stage of work, so promoting the realization of FTAAP is an ideal option.

In the part of promoting the internationalization of micro-small and medium-sized enterprises, the APEC Enterprise Advisory Committee (ABAC) made recommendations to ministers from a business point of view that, in addition to actively promoting FTAAP to open up new opportunities for small and medium-sized enterprises, APEC should strengthen its assistance to micro-small and medium-sized enterprises to reduce export difficulties, such as strengthening its ability to assist small and medium-sized enterprises in the application of information technology. Most members also agree to promote digital trade to help SMEs innovate.