Trade officials from 21 APEC member states agree on joint statement with aim to tackle trade uncertainties

Trade envoys of the APEC forum have highlighted the importance of continued cooperation in response to challenges to ensure broader economic stability.

Our Bae Eun-ji files this report from the southern island of Jeju.

Top trade officials from Asia-Pacific Economic Cooperation member states wrapped up their two-day meeting on Jeju Island on Friday, an event hosted by South Korea ahead of the APEC leaders' summit later this year.

South Korea's Minister for Trade Cheong In-kyo, who led the meeting, announced at a press conference that all 21 member nations have agreed on a joint statement which includes adopting artificial intelligence into global trade and strengthening cooperation on supply chain issues.

"South Korea proposed the idea of the 'AI for trade' initiative, in which other APEC member states showed great interest and support."

Member states agreed to continue cooperation on areas such as facilitating paperless trade, bridging digital divides, and creating strengthened digital infrastructure.

In the joint statement, they also recognized the importance of the World Trade Organization, as they shared concerns on global trade risks.

Meanwhile, much attention was drawn to a separate meeting between South Korea's Minister of Trade, Industry and Energy Ahn Duk-geun, and U.S. Trade Representative Jamieson Greer.

The two officials last met in Washington three weeks ago, when South Korea requested exemptions from reciprocal tariffs, while offering cooperation on shipbuilding and energy.

Both countries are currently working to produce a package of deals to remove new U.S. tariffs before the July 8th deadline, when the 90-day pause on reciprocal tariffs is lifted.

So, eyes are now on whether South Korea and the U.S will be able to make further progress following Friday's talks.

Bae Eun-ji, Arirang News, Jeju.