In a significant move toward regional economic integration, member economies of the Asia-Pacific Economic Cooperation (APEC) have agreed to adopt a joint statement and approve a new roadmap for the development of the services sector. The decision was reached during the APEC Ministers Responsible for Trade Meeting held this week in Suzhou, located on the Chinese mainland.
Speaking at a press conference, China's Minister of Commerce Wang Wentao highlighted that all 21 member economies participated in the two-day gathering. This full attendance underscores a strong, collective commitment to regional economic cooperation at a time when global markets are facing increasing uncertainties.
The resulting agreement, officially titled the Suzhou Statement, serves as a cornerstone for the meeting's primary theme: "Building an Asia-Pacific Community to Prosper Together." The discussions focused on establishing a more open and predictable regional and multilateral trade order, while simultaneously identifying new drivers for innovative trade and investment cooperation.
The meeting was not limited to APEC members; it also saw the participation of representatives from APEC observer economies and heads of major international organizations, including the World Trade Organization (WTO) and the United Nations Conference on Trade and Development.
Key priorities discussed by the delegates included:
- Advancing the long-term vision of a free trade area of the Asia-Pacific.
- Collaborating on the necessary reforms of the WTO.
- Promoting digital and green trade cooperation to meet modern environmental and technological challenges.
This initiative aligns with the objectives of the 2026 APEC "China Year," which has prioritized openness, innovation, and cooperation. By translating the vision of an Asia-Pacific community into concrete actions, member economies aim to better respond to emerging opportunities and challenges in regional development, a framework that has received broad endorsement from across the region.
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APEC trade ministers' meeting endorses new roadmap for services sector
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