November 8, 2021
On November 8 (Mon.), the APEC Ministerial Meeting (Session 1) was held via video conference, and Mr. Hagiuda Koichi, Minister of Economy, Trade and Industry (METI) attended as the representative of METI. The meeting was held on the theme of "the trade as a vehicle to accelerate our economic recovery."
The APEC Ministerial Meeting (Session 1) was held via video conference under the chairmanship of H.E. Damien O'Connor, Minister for Trade and Export Growth, New Zealand (this year's APEC presidency-holder country). Minister Hagiuda attended it as a representative of METI. (Mr. Miyake Shingo, Parliamentary Vice-Minister for Foreign Affairs, attended as a representative of the Ministry of Foreign Affairs.)
With "the trade as a vehicle to accelerate our economic recovery" as the theme, the meeting discussed topics toward helping the economy recover from the crisis brought about by the pandemic. The matters discussed included facilitating the logistics for vaccines and medical supplies, promoting regional economic integration, maintaining and strengthening the multilateral trading system, and the importance of enhancing supply chain resilience.
The main remarks made by Minister Hagiuda were about the following:
- The importance of correcting market distortive measures, steady implementation of RCEP, and maintaining and strengthening high-standard, comprehensive economic partnerships, including CPTPP, in order to promote a free and fair economic order.
- The need for outcomes such as the response to the COVID-19 crisisat the 12th WTO Ministerial Conference (MC12) and the need to continuously address trade challenges including post-MC12.
- The importance of promoting quality infrastructure to enhance supply chain resilience, and of cooperation regarding the recent rise in crude oil prices, etc.
Session 2 of the APEC Ministerial Meeting will be held via video conference on November 9 (Tue.). The theme will be "an economic and technical cooperation as a tool to accelerate our economic recovery," and Mr. Hosoda Kenichi, METI State Minister, will attend.
Division in Charge
APEC Office, Trade Policy Bureau