Edward Yau Attends APEC Meet

Secretary for Commerce & Economic Development Edward Yau attended the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Vina del Mar, Chile.

Speaking at a discussion session with the theme of Advancing APEC’s Regional Economic Integration Agenda, Mr Yau said Hong Kong and like-minded economies are seeking to strengthen alliances for free and open trade through free trade agreements.

Citing the signing of the Hong Kong-Australia Free Trade Agreement and Investment Agreement in March, he said the two pacts provide transparency and predictability and give a big boost of confidence to the rules-based trading system against the prevailing uncertainties in the global economy.

Mr Yau also participated in another discussion session entitled Advancing APEC's support for the World Trade Organization (WTO).

He said it is of utmost importance that the conduct of international trade abides by transparent and non-discriminatory rules and that WTO members can settle disputes under the organisation’s established mechanism.

“It is high time for APEC to sing in chorus to affirm its pledge to strengthening and defending the multilateral trading system. Hong Kong stands ready to support an MRT statement signifying the strong and unwavering commitment of APEC to upholding the rules-based system," he said.

On the margins of the APEC MRT, Mr Yau held bilateral meetings with Canada’s Federal Minister of International Trade Diversification James Carr, Russian Deputy Minister of Economic Development Timur Igorevich Maximov and the Assistant Minister of Commerce Li Chenggang to discuss trade and economic relations.