APEC Trade Ministers’ Meeting Commences in South Korea Amid Bilateral Talks


Jeju: A trade ministers’ meeting of the Asia-Pacific Economic Cooperation (APEC) member economies began on South Korea’s southern resort island of Jeju, focusing on global trade challenges. Numerous bilateral meetings are taking place on the sidelines, emphasizing countries’ efforts to tackle issues arising from increasing trade protectionism.



According to Yonhap News Agency, the APEC Ministers Responsible for Trade (MRT) Meeting is being held at the International Convention Center in southern Jeju under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” as stated by Seoul’s Ministry of Trade, Industry and Energy. Top trade officials from 21 APEC members, along with senior officials from the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD), are participating in the two-day event.



The venue for the APEC ministers’ meeting has become a hub of activity with a series of bilateral meetings. Major APEC member countries, including South Korea, Japan, and China, are engaged in trade negotiations with Washington over U.S. President Donald Trump’s comprehensive tariff measures. South Korean Trade Minister Cheong In-kyo is set to meet with U.S. Trade Representative (USTR) Jamieson Greer later on the sidelines of the MRT meeting.



The scheduled meeting follows Greer’s earlier talks with China’s top trade envoy, Li Chenggang. Additionally, a separate meeting between the USTR and South Korean Minister of Trade, Industry and Energy Ahn Duk-geun is planned for Friday. These discussions come after South Korea and the U.S. agreed in Washington last month to formulate a “package” deal on tariff and economic cooperation issues by early July, when the 90-day pause on the Trump administration’s reciprocal tariffs, including 25 percent duties on South Korea, concludes.



Seoul has suggested expanding bilateral cooperation in the shipbuilding and energy sectors as part of efforts to reduce U.S. tariffs on Korean goods, as stated by government officials. In his opening remarks at the APEC meeting, Cheong highlighted the uncertainties in trade and supply chains, stating, “Today, the global environment surrounding APEC economies faces an array of challenges.”



He further noted that international organizations such as the WTO and International Monetary Fund (IMF) have downgraded projections for global trade and economic growth. Cheong emphasized the importance of APEC’s role in this challenging environment, saying, “The world is paying keen attention to this year’s MRT meeting.”



The APEC meeting will focus on three main agenda items: artificial intelligence (AI) innovation for trade facilitation, connectivity through multilateral trading systems, and prosperity through sustainable trade, according to Seoul’s industry ministry. Cheong also met with the Chinese trade envoy earlier, where discussions centered on the multilateral trade system and global supply chain issues. He noted that Li emphasized the importance of multilateralism and China’s efforts to support global supply chains, although there was no discussion on economic security.



Cheong plans to conduct bilateral meetings with trade chiefs from about 15 APEC economies throughout the event, as stated by his ministry.