Finance

China calls for APEC cooperation as commerce minister skips opening

Asia-Pacific Economic Cooperation Trade Ministers’ Meeting in Suzhou, China

The Asia-Pacific Economic Cooperation (APEC) trade ministers’ meeting in Suzhou, China, was kicked off by Li Chenggang, China’s international trade representative. In his opening remarks, Li emphasized the importance of regional economies coming together to show support for cooperation on a global scale.

Li, who also serves as China’s vice commerce minister, stepped in to chair the meeting in place of Commerce Minister Wang Wentao, who had pressing official duties to attend to. The trade representative role held by Li carries the rank of a full minister, highlighting the significance of China’s presence at the gathering.

The meeting, scheduled to run until Saturday, follows a recent meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing. As a result of the meeting, China committed to placing a substantial order for Boeing aircraft and purchasing $17 billion worth of U.S. agricultural products annually through 2028.

While APEC is not a negotiation platform, Li stressed the importance of the organization playing a guiding role in economic and trade discussions. He called for the acceleration of the implementation of consensus agreements to yield tangible results sooner rather than later.

Leading the U.S. delegation at the meeting is Ambassador Rick Switzer, Deputy United States Trade Representative. The United States, one of the founding members of APEC, has been actively involved in the organization since its inception in 1989 in Australia. APEC initially served as an informal forum for discussions on free trade and economic cooperation and has since expanded to include 21 member economies, including China, Hong Kong, and “Chinese Taipei.”

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