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Key Points

The APEC Trade Ministers' Meeting kicked off in Jeju, South Korea, bringing together 21 member economies to address global trade challenges. Top officials, including representatives from the US, China, and South Korea, are engaging in critical bilateral negotiations to mitigate trade tensions. The two-day event focuses on sustainable economic development and innovative cooperation strategies. Discussions aim to find solutions to growing trade protectionism and strengthen international economic relationships.

Key Points: APEC Trade Ministers Gather in Jeju to Address Global Challenges

  • - 21 APEC members discuss trade challenges at Jeju International Convention Center
2 min read

APEC trade ministers' meeting kicks off in South Korea

APEC trade ministers convene in South Korea to discuss global trade tensions, bilateral negotiations, and economic cooperation strategies

"Building a Sustainable Tomorrow: Connect, Innovate, Prosper - APEC MRT Meeting Theme"

Seoul, May 15

A trade ministers' meeting of the Asia-Pacific Economic Cooperation (APEC) member economies kicked off on Thursday on South Korea's southern resort island of Jeju to discuss challenges facing global trade, with many bilateral meetings held on the sidelines highlighting the countries' efforts to address such issues stemming from growing trade protectionism.

The APEC Ministers Responsible for Trade (MRT) Meeting will be held through Friday at the International Convention Center in southern Jeju, under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper," according the Seoul's Ministry of Trade, Industry and Energy.

Top trade officials from the 21 APEC members are taking part in the two-day event, as well as senior officials from the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD), reports Yonhap news agency.

Soon after its start, the venue for the APEC ministers' meeting bustled with a series of bilateral meetings as many major APEC member countries, including South Korea, Japan and China, are currently undergoing trade negotiations with Washington over U.S. President Donald Trump's sweeping tariff measures.

South Korean Trade Minister Cheong In-kyo was set to hold talks with US Trade Representative (USTR) Jamieson Greer later Thursday on the sidelines of the MRT meeting. The scheduled meeting follows Greer's bilateral talks with China's top trade envoy, Li Chenggang, held earlier Thursday.

A separate one-on-one meeting between the USTR and South Korean Minister of Trade, Industry and Energy Ahn Duk-geun is planned for Friday.

Greer's meetings with South Korean officials come after their countries agreed in Washington last month to craft a "package" deal on tariff and other economic cooperation issues by early July, when the 90-day pause on the Trump administration's country-specific reciprocal tariffs, including 25 percent duties on South Korea, will end.

Seoul has proposed expanding bilateral cooperation in the shipbuilding and energy sectors as part of efforts to lower U.S. tariffs on Korean goods, according to government officials.

- IANS

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Reader Comments

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Rajesh K.
Interesting to see APEC discussions happening when global trade is facing so many challenges. As an Indian, I hope our government is closely watching these developments, especially the US-China trade tensions. Our economy could benefit if we play our cards right during this uncertainty. 🇮🇳
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Priya M.
While APEC is important, India should focus more on strengthening regional trade partnerships with neighbors like Bangladesh and Sri Lanka first. Local trade can create more immediate benefits for common people than these high-level meetings. Just my two paise!
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Amit S.
The US-Korea trade talks mentioned here remind me of how India needs to be careful with trade agreements. We've seen how sudden tariff changes can hurt local industries. Hope our trade ministers are learning from these examples. #MakeInIndia
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Sunita R.
Good to see sustainability as the theme! 🌱 India should push for more green technology partnerships in such forums. Climate change affects all of us, and trade policies must consider environmental impacts too. Our traditional practices have much to offer in this area.
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Vikram J.
While these meetings are important, I wish they would focus more on helping small businesses and farmers access international markets. Big corporations always benefit, but what about the aam aadmi? Our trade policies need to be more inclusive.
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Neha P.
The mention of shipbuilding cooperation caught my eye. India has great potential in this sector - we should leverage our coastline and skilled workforce better. Maybe learn from Korea's expertise while protecting our own interests.

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