Speech by SCED at plenary session of APEC Ministerial Meeting (2) (English only)
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Thank you, Chair.
I would like to first thank the Secretary-General of the Organisation for Economic Co-operation and Development for his insightful remarks.
We gather at the time when the global trading landscape is undergoing profound transformation, driven by rapid technological advancements, escalating geopolitical tensions, rising protectionism, increasing fragmentation and other emerging issues like climate change. All these are reshaping the international trade order.
In navigating this increasingly complex landscape, the multilateral trading system underpinned by the World Trade Organization (WTO) continues to play a pivotal role. The WTO, with its core principles of non-discrimination and co-operation as well as various critical roles and functions, has led the world trade to flourish for decades. In these unprecedented and challenging times, we believe that an open, stable, transparent, inclusive and predictable rules-based international trading environment is more crucial than ever, particularly for less developed economies, enabling them not just to survive but also to thrive on emerging opportunities.
Notwithstanding the importance of the WTO, it is imperative that the WTO recalibrate its priorities and strategies to remain relevant. The WTO must update its rulebook, not only on substance but also in the way it works, to better meet the demands of today's global economy. Full-scale engagements are taking place to improve the WTO's functions, and we remain hopeful that these efforts will yield meaningful deliverables at the 14th Ministerial Conference scheduled for next March.
While navigating reforms for the WTO amid the multilateral gridlock and geo-economic fragmentation, economies have resorted to plurilateral and regional activities. Plurilateral initiatives are a logical and realistic vehicle to make progress in the interim, particularly when it is increasingly difficult to achieve consensus across all WTO membership. That said, we should maintain the supremacy of the multilateral trading system in governing global trade, through leveraging APEC as the premier forum for multilateral engagement. As an incubator of innovative ideas, APEC has a unique role to play in fostering regional dialogue, contributing constructively to the ongoing WTO reform process and facilitating international co-operation.
APEC itself has also been active in addressing issues that affect the region, such as enhancing the resilience of our supply chains against shocks and threats. Being an externally oriented economy, seamless and effective supply chains are essential to Hong Kong, China. Among other strategies, we have leveraged technological innovations, not least artificial intelligence, in this context. For instance, AI is applied to facilitate customs enforcement, cargo clearance and matchmaking for airline partnerships. We are also actively building connectivity on trade single window with key trading partners such as the Association of Southeast Asian Nations. We look forward to sharing our experiences with member economies, so that we can jointly enhance the resiliency and adaptability of the supply chains in the region.
Hong Kong, China remains committed to working with member economies to overcome the challenges we face, whether they are short-term shocks or long-term structural shifts, so that we can achieve shared prosperity.
Thank you.
Ends/Thursday, October 30, 2025
Issued at HKT 14:52
Issued at HKT 14:52
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