APEC Trade Ministers Conclude Meeting in Suzhou, Taiwan Advocates Supply Chain Resilience

The APEC Trade Ministers' Meeting, held in Suzhou, China, concluded with a joint statement emphasizing enhanced supply chain resilience and deeper economic cooperation among member economies. Taiwan, represented by Minister Without Portfolio and Chief Trade Negotiator Yang Jen-ni, actively participated, proposing initiatives to bolster supply chain robustness.

Taiwan offered to share its expertise in AI innovation and green transformation, underscoring its commitment to regional economic integration. The delegation also advocated for continued dialogue on high-standard regional economic integration issues, support for WTO reform, and the establishment of a robust digital trade environment. Discussions focused on key areas including regional economic integration, the multilateral trading system, artificial intelligence, and green transformation.

Key outcomes included a consensus on promoting regional economic integration, including the Free Trade Area of the Asia-Pacific (FTAAP). Ministers acknowledged the impact of global events on supply chain stability and stressed the need for enhanced security and resilience. Taiwan highlighted the importance of integrating new economic issues like digital trade and environmental sustainability into regional frameworks.

Regarding the multilateral trading system, participants recognized the WTO's role and the need for ongoing reform. Discussions also touched upon reducing digital trade costs, with support for the permanent moratorium on customs duties for electronic transmissions, though differing views on its long-term predictability were noted. Taiwan emphasized the need for transparency and predictability in trade remedies and industrial policies to maintain fair competition.

Artificial intelligence and digital trade were identified as crucial drivers of regional economic growth. Members agreed to foster cooperation and capacity building to promote rule interoperability, regulatory transparency, and responsible AI governance. Taiwan highlighted its own AI initiatives, including its "AI New Ten Major Constructions" and support for SMEs in digital transformation. The meeting also addressed green transition, with members sharing progress and supporting the liberalization of environmental services trade. Taiwan presented its 2050 net-zero emissions roadmap and its use of AI and semiconductor technology for smart manufacturing and circular economy initiatives.