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China urges APEC to boost economic integration, trade and investment

By Zhong Nan | chinadaily.com.cn | Updated: 2023-05-27 15:40
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A view of the Huangpu River in Shanghai. [Photo/VCG]

China urged Asia-Pacific Economic Cooperation economies to uphold open regionalism, advance regional economic integration, enhance trade and investment cooperation to tackle economic challenges in the Asia-Pacific, said China's Commerce Minister Wang Wentao.

Speaking at the 29th APEC Trade Ministers' Meeting in Detroit, the United States, held on Thursday and Friday, Wang articulated China's stance on supporting the multilateral trading system and promoting sustainable and inclusive trade development, according to an online statement released by the ministry.

The Chinese official said with the ongoing reform of the World Trade Organization, economies in the Asia-Pacific should actively participate and contribute to the early restoration of the dispute settlement mechanism, conclude the negotiations on trade facilitation and achieve substantial progress in e-commerce negotiations within this year.

The economies in the Asia-Pacific should enhance cooperation, focusing on areas of common concern and consensus to ensure practical outcomes at the WTO's 13th Ministerial Conference, said Wang.

Acknowledging that economic and trade development in the Asia-Pacific still faces numerous disruptions and challenges, Wang called on APEC economies to share benefits arising from the integrated expansion of regional industrial and supply chains and leverage the engine of green and low-carbon development and digital economy, as well as help small and medium-sized enterprises to gain more growth opportunities.

In another statement, the Ministry of Commerce said that Wang attended the ministerial meeting of China and members of the Digital Economy Partnership Agreement on Friday.

Wang highlighted China's strong commitment to joining the DEPA. Since the establishment of its DEPA working group, the Chinese government has collaborated effectively with the member countries, achieving notable progress.

China is willing to work together with the DEPA's member countries to accelerate technical consultations, actively engage in policy exchanges, address mutual concerns appropriately and further advance pragmatic cooperation in the field of digital economy, he added.

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