The 31st Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting kicked off on Thursday on South Korea’s Jeju Island. Trade ministers and senior officials from 21 member economies, including China, gathered to tackle pressing regional economic issues.
The two-day meeting focused on promoting innovation in trade facilitation, strengthening connectivity through the multilateral trading system, and fostering collaboration for sustainable prosperity. These discussions come at a critical time as the region faces a complex global economic landscape marked by slowing growth, policy uncertainties, and emerging technologies.
According to the latest APEC Regional Trends Analysis, the region’s GDP is projected to grow by just 2.6 percent in 2025, a significant drop from the 3.3 percent forecasted in March. This decline surpasses the global downgrade, highlighting the APEC region’s vulnerability amid escalating trade tensions and geopolitical uncertainties.
“As a key driver in global trade, the APEC region faces a steeper growth downgrade than the rest of the world, driven by escalating trade disputes and policy uncertainty,” the report warns.
On the sidelines of the meeting, China’s Vice Minister of Commerce Li Chenggang met with U.S. Trade Representative Jamieson Greer, signaling a potential easing of trade tensions between the two largest economies in the region.
This meeting sets the stage for broader regional cooperation ahead of the APEC Economic Leaders’ Meeting later this year. It also builds momentum toward 2026, when China will host the APEC forum.
