Seoul, 27 April 2017 – Members of the APEC Business Advisory Council (ABAC), meeting in Seoul to prepare recommendations on business priorities for APEC Trade Ministers, welcomed comments by a senior Korean official on the role of APEC to chart the path towards freer trade in the face of the rise of protectionist measures.
Speaking last night during a welcome dinner H.E. Mr. Ahn Chong-ghee Vice Minister of Foreign Affairs, Republic of Korea said,
“We all know why free trade matters. Division of labor, comparative advantage, global value chains – these are straightforward concepts that have stood the test of time. History tells us that when economies trade, they are more productive and competitive, and enjoy more choices and higher living standards. APEC economies bear testament. Singapore, Hong Kong, China, Chinese Taipei, Korea, and ASEAN economies, have achieved unprecedented growth by becoming integrated into a free and open multilateral trading system.”
ABAC Members enthusiastically endorsed the Vice Minister’s call for APEC to continue to actively play a leading role in championing free trade.