Qiu Yinghua attended the APEC Ministerial Video Conference and emphasized the importance of strengthening cooperation among member economies

The Zhitong Finance App learned that on the evening of November 3, the Secretary for Commerce and Economic Development of Hong Kong, Qiu Yinghua, attended the 37th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting held via video. The theme for this year's APEC China Year is “Building the Asia-Pacific Community and Promoting Common Prosperity”. Qiu Yinghua emphasized during a discussion session that in the face of the rapidly changing situation and the rapid development of technology, member economies must work together to achieve common prosperity through strengthened dialogue and cooperation.

Using digital transformation as an example, Qiu Yinghua said that member economies must continue to cooperate pragmatically, uphold a people-oriented and inclusive approach, and give full play to their digital technology advantages. At the local level, Hong Kong is strengthening research capabilities in cutting-edge technology and launching relevant programs to promote public awareness of artificial intelligence and promote responsible use of artificial intelligence. Hong Kong looks forward to sharing experiences and learning from other member economies in this regard.

Furthermore, Qiu Yinghua called on member economies to continue to strengthen connectivity in various fields, promote the effective flow of goods, services, capital and people, and at the same time narrow the development gap and create opportunities for all sectors in the region. He added that any cooperation among member economies should continue to be guided by the Putrajaya Vision 2040 and Aotearova Action Plan.

In another discussion session, Qiu Yinghua shared her views on how to strengthen economic integration to drive new regional growth. He pointed out that strengthening economic integration has always been the core goal of APEC, and one direction is to continue to promote the development of the Asia-Pacific Free Trade Area.

Qiu Yinghua said, “To make greater contributions to the Asia-Pacific Free Trade Area agenda, Hong Kong has been actively seeking to join the Regional Comprehensive Economic Partnership Agreement (“the Agreement”) as soon as possible. We welcome the agreement's establishment of a working group for Hong Kong in September this year, and hope that our addition will inject new momentum into advancing the Asia-Pacific Free Trade Area agenda.”

Qiu Yinghua also emphasized the importance of strengthening cooperation to deal with major changes in the economic and trade landscape. As scientific and technological innovation increasingly changes the mode of operation of international trade, deepening cooperation in this area is essential to promote cross-border trade and investment. He added that to achieve this goal, Hong Kong fully supports the proposed “Digital Trade Cooperation Framework” as a guiding document for future cooperation.

Furthermore, Qiu Yinghua emphasized that the multilateral trading system must continue to be the cornerstone of regional integration and international trade. “We call on member economies to continue to support the World Trade Organization (WTO) reform agenda, incorporate plurilateral initiatives into the WTO framework, find permanent solutions for not imposing tariffs on electronic transmissions, and advance e-commerce work plans,” he said.