Apec agrees on trade, climate change; differs on Middle East - South China Morning Post

Apec ends with commitment on trade, climate change; differences on Middle East | South China Morning Post
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Apec ends with commitment on trade, climate change; differences on Middle East

- 21-member grouping wraps up annual conference that featured long-awaited summit between US and Chinese leaders
- Declaration calls for ‘free, open, fair, non-discriminatory, transparent, inclusive, and predictable trade and investment environment’

Japan and more than a dozen other Asia-Pacific economies agreed to continue efforts to expand and liberalise trade, fight corruption and address climate change issues as the group’s annual leaders’ conference wrapped up in San Francisco on Friday.

Asia-Pacific Economic Cooperation(Apec) after a week of meetings that featured on its sidelines a

long-awaited summit between the Chinese and US presidents,

Xi Jinping and

Joe Biden.

“Our region’s economic growth continues to be underpinned by the rules-based multilateral trading system.”

This year’s final word from the 21-member grouping that accounts for nearly half of global trade also said it would continue efforts to enhance transparency and technical cooperation among the 21 member economies, push for “resilient, effective, sustainable, and open” supply chains and improved transport links .

The group’s non-binding, consensus oriented structure guarantees that areas of agreement are largely technical and non-controversial, although supporters say it acts as an incubator for regional discussion.

Divisions were evident in the release of a separate document, the Chairman’s Statement authored by the United States. This document said that “most members” condemned Russia’s invasion of Ukraine, with evidence of even less consensus on the Mideast.

“We exchanged views on the ongoing crisis in Gaza,” the statement added, citing objections raised by some unnamed members to language on political issues in the full Apec declaration.

fall behind that of the rest of the world in coming years. This was partly because of slower growth in China, whose deepening tensions with Washington have become a focal point for Apec and nearly every other international forum.

US has every right to be in Indo-Pacific, Biden tells Apec CEOs

With China and the US standing out as Apec’s largest members, the largely cordial summit between Xi and Biden – where they agreed to work together on narcotics control and artificial intelligence and resume military-to-military communications – offered reassurance to some participants at this year’s conference.

“The important thing is not what was said, or what they agreed to, the important thing was that Xi made the decision to come to the summit,” said Buck Gee, regional chair of the Committee of 100, a leading Chinese-American civic group. “When someone reaches out and offers their hand, that’s a positive signal.”

“China and the United States are always going to be competitors ... so that is always going to create tension,” he added. “We’re in an economic competition, labour competition, market competition. Both sides know that they are not only competitors, but need to survive in this complicated world.”

Xi Jinping offers cooperation, reassurance during US business dinner

Vanessa Liu, board director at machine learning company Appen and commercial property company the Goodman Group, called the summit “a step in the right direction to forge better relationships between the two countries”.

“We live in such a polarized environment when it comes to practically every topic out there, and so to be able to have a forum where you can talk and also just think about where can we cooperate together is always going to be better for everyone,” Liu said.