Edward Yau attends APEC meeting

November 15, 2018
Enhancing integration
Enhancing integration:

Secretary for Commerce & Economic Development Edward Yau (left) speaks at a plenary session of the 30th Asia-Pacific Economic Cooperation Ministerial Meeting.

Secretary for Commerce & Economic Development Edward Yau today said Asia-Pacific Economic Cooperation (APEC) members should redouble efforts to contain the escalating trade conflicts through constructive dialogue.

 

Mr Yau made the remarks at a plenary session of the 30th APEC Ministerial Meeting in Port Moresby, Papua New Guinea.

 

Ministers of 21 member economies attended the plenary session to discuss the state of regional and global economies and efforts to deepen regional economic integration.

 

Mr Yau said uncertainties in the external environment have increased markedly with the likely escalation of trade frictions, adding this could weigh on the global economic sentiment as well as trade and investment growth.

 

"We must not underestimate the unprecedented challenges facing the multilateral trading system with the World Trade Organization at its core. All of us therefore have strong vested interest in upholding and strengthening the WTO, instead of letting it slowly slide into marginalisation.”

 

Hong Kong supports efforts in achieving the Bogor Goals and deeper economic integration in the Asia-Pacific region, Mr Yau said.

 

He also said the city is committed to pursuing free trade agreements with its trading partners, and to pursuing the long-term vision of the free trade area of the Asia-Pacific as a concrete step towards greater regional economic integration.

 

On the sidelines of the meeting, Mr Yau met Minister for Trade & Export of Growth of New Zealand David Parker, Minister of International Trade & Industry of Malaysia Darell Leiking, Minister of Foreign Trade & Tourism of Peru Rogers Valencia, and Vice Minister of Trade & Director General of International Economic Affairs of Chile Rodrigo Yanez Benitez.

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