Apec trade chiefs agree on more inclusive trade, but no joint statement

DETROIT – Trade ministers from countries in the Asia-Pacific Economic Cooperation (Apec) forum agreed on Friday to

promote more inclusive and sustainable trade,

but failed to produce a joint statement due to Russia’s and China’s objections to language on Ukraine.

Closing out two days of talks in Detroit in the United States, US Trade Representative Katherine Tai instead issued a chairman’s statement summarising the discussions, with an emphasis on inclusiveness, fighting climate change and sustainability.

“We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade and investment environment,” the statement read.

The group reaffirmed its commitment to the rules-based multilateral trading system with the World Trade Organisation (WTO) at its core.

“We will continue to work to ensure a level playing field to foster a favourable trade and investment environment and reaffirm our commitment to keep markets open and to address supply chain disruptions,” it said.

Apec leaders last November in Bangkok approved language stating that

“most members” strongly condemned the war in Ukraine

and the resulting human suffering and economic impact.

But at the meeting in Detroit, China and Russia objected to including the language, leaving it to Ms Tai’s chairman statement, which noted that there were differing views and that “Apec is not the forum to resolve security issues”.

Ms Tai told a news conference that she hoped Apec leaders at a summit in San Francisco this November would be able to produce a joint statement.

Ms Tai used the Detroit meeting as a venue to push the Biden administration’s vision of a “worker-centred” trade policy to a broader international audience. She said she chose Detroit to showcase its history as a city hit hard by aggressive trade liberalisation, but which has seen a rebirth and shift to new green transport technology.

“I’m confident that Apec’s reputation as an incubator of ideas and a catalyst for cooperation can also benefit our work in driving a race to the top for workers throughout the region,” she said.

Singapore’s Minister for Trade and Industry Gan Kim Yong, who attended the meeting, made three suggestions for the WTO to respond more effectively to the challenges that countries face today, the Ministry of Trade and Industry said in a statement on Saturday.

First, restoring a fully functioning and effective system for dispute settlement; second, updating the WTO’s rule book to address emerging issues on digital trade and environmental sustainability; and third, improving the WTO’s decision-making process.

Mr Gan also spoke on Singapore’s commitment to transitioning to a green economy. He highlighted that the Republic remained steadfast in securing greener sources of energy, investing in new technologies, strengthening businesses’ capabilities, and upskilling its workforce.

He added that Singapore would continue to look towards new trade architectures such as green economy agreements to harness green growth opportunities for Singaporeans. REUTERS