JABAR EKSPRES –Asia-Pacific Economic Cooperation (APEC) trade ministers are meeting “at a time of uncertainty and shared challenges in the global economy,” US Trade Representative, Katherine Tai said, Thursday (5/25).
“We meet at a time of uncertainty and shared challenges in the global economy including fragile supply chains, rising inequality, and a worsening climate crisis,” Tai, chair of the 2023 APEC Ministers Responsible for Trade Meeting (MRT), said in opening remarks held at The Westin Book Cadillac Detroit in the US state of Michigan.
“These challenges are compounded through the pandemic and rising geopolitical tensions we see today. Given this, we must assess where we are and think creatively, to better prepare ourselves for a more resilient and sustainable future,” Tai said.
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Tai said the trade ministers are scheduled to hold World Trade Organization discussions Thursday afternoon, and on Friday they will turn their attention to “fully integrating the principles of sustainability and inclusion in our respective trade policies and engagement with other trading partners.”
While attending the event, Chinese Commerce Minister Wang Wentao will hold talks respectively with US Commerce Secretary Gina Raimondo and Tai, and exchange views with the US side on China-US economic and trade relations and issues of mutual concern, Ministry of Commerce spokesperson Shu Jueting said on Thursday (5/25).
The APEC region’s economic growth is expected to accelerate slightly to 3.1 percent in 2023, after a moderation of 2.6 percent in 2022. Growth is expected to slow to 2.8 percent in 2024, according to the latest economic analysis published by the APEC Policy Support Unit.
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