Seoul, 7 September 2021 (TDI): On Friday last week, concluded the Asia-Pacific Economic Cooperation (APEC) 3rd Senior Officials’ Meeting. Held virtually from August 31 to September 3, Deputy Minister for Economic Affairs Lee Seong-ho and other partners from the member economies discussed the COVID-19 response, economic recovery measures, ways to enhance cooperation in serving this year’s APEC activities, including establishing an implementation plan for the Putrajaya Vision 2040.
At this meeting, the delegates discuss the ways to strengthen the multilateral trading system for economic recovery to support the achievement of outcomes at the 12th World Trade Organization Ministerial Conference. It recognized the need for cooperation in the digital economy.
Second, Lee seeks to work and make progress on the Free Trade Area of the Asia Pacific (FTAAP).
Thirdly, Lee emphasized cooperative measures to strengthen competitiveness in the service sectors and efforts to restore cross-border travel due to COVID-19.
Lee also seeks to strengthen the policies of the Korean government’s Green New Deal and Digital New Deal policies to promote sustainable growth.
Lastly, Lee proposed areas of cooperation on the drafting of Putrajaya Vision 2040 in the liberalization of trade in environmental goods and services, consumer protection in digital trade, and the sustainable management of ocean resources.
The Korean government will continue to cooperate in the region at Senior Officials’ Meetings and Ministers’ Meetings for coming up with feasible outcomes at the ALEM (APEC Leaders’ Economic Meeting) which will be held on November 12.