APEC Trade Ministers' Meeting Held In-Person After 3 Years... "Condemning Russia's Military Invasion"

The 28th APEC Trade Ministers' Meeting... Participation of 21 Countries
Joint Press Statement Agreed... Immediate Withdrawal of Russia Requested

[Image source=AP Yonhap News]

[Asia Economy Sejong=Reporter Lee Jun-hyung] The Asia-Pacific Economic Cooperation (APEC) Trade Ministers' Meeting was held in person for the first time in three years. Taking advantage of the APEC meeting, the government agreed on a joint press statement condemning Russia's invasion of Ukraine with major countries including the United States and Japan.

The Ministry of Trade, Industry and Energy announced that An Seong-il, Director General of the New Trade Order Strategy Office, attended the 28th APEC Trade Ministers' Meeting held in Bangkok, Thailand from the 21st to the 22nd. The APEC Trade Ministers' Meeting was held face-to-face for the first time in three years due to the impact of COVID-19. Trade ministers from 21 APEC member economies including the United States, Japan, China, and Russia participated in this meeting.

Director General An proposed measures to strengthen APEC's role in three sessions: the Asia-Pacific Free Trade Area (FTAAP), support for the multilateral trading system, and the post-COVID-19 future. Specifically, he emphasized the need to reflect new trade issues in discussions on FTAAP for economic integration within the APEC region and to activate the participation of various stakeholders such as small business owners and small and medium-sized enterprises (SMEs) and mid-sized companies.

He also stated that the upcoming 12th Ministerial Conference of the World Trade Organization (WTO) next month should serve as a turning point for the recovery of the multilateral trading system. As part of the measures to restore the multilateral trading system, he proposed preparing APEC's response to health crises, strengthening food security, advancing negotiations on fisheries subsidies, and accelerating WTO reform.

Taking advantage of this APEC meeting, the government also agreed on a joint press statement regarding the Ukraine situation. Major allied countries including the United States, Japan, Australia, and Canada participated in the joint press statement. The statement condemns Russia's military invasion of Ukraine and demands an immediate withdrawal of troops.

A government official explained, "This press statement is not a result agreed upon at the APEC level," adding, "It was separately agreed upon mainly by countries that have led responses to Russia in forums such as the WTO and G7."

Meanwhile, Director General An also held bilateral meetings with major APEC countries such as Australia, New Zealand, and the Philippines. He advocated strengthening regional cooperation centered on the Indo-Pacific Economic Framework (IPEF). Through these bilateral meetings, he also conveyed the new government's position to continue pursuing accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

This content was produced with the assistance of AI translation services.