APEC 2023 builds a resilient and sustainable future for all.

The Asia- Pacific Economic Cooperation (APEC) Summit Week, held from November 11-17, 2023 in San Francisco, is the most important event of the 2023 APEC year for the host country, the United States.

Last year, the U.S. reinforced its commitment to the region through its Indo- Pacific strategy. But as host of APEC in 2023, the U.S. can advance its interests in the Asia-Pacific by playing a key role in setting an agenda toward conflict reduction and promoting economic interdependence and peaceful global cooperation.

In a press conference ahead of APEC High-Level Week, Matt Murray, senior official in charge of APEC, Bureau of East Asian and Pacific Affairs (US Department of State ), emphasized that, with the theme of APEC 2023, the main policy priorities of the US are building a connected, innovative, and inclusive Asia-Pacific region.

Through APEC, the United States is committed to strengthening economic cooperation in this dynamic region, which represents 40% of the world's population, nearly half of global trade, and more than 60% of global GDP.
U.S. exports to APEC economies in 2021 exceeded $1.3 trillion. More than half of total U.S. exports went to APEC economies, supporting nearly 7 million jobs in the U.S.

Mr. Murray stated that during APEC High-Level Week, APEC leaders will establish a strategic vision for regional cooperation in the coming year. He emphasized that the United States is proud of the progress made this year through APEC and remains committed to strengthening partnerships, engaging with stakeholders in the region, and continuing to work toward a resilient and sustainable future for all.

Also at the press conference, Christopher Wilson, Assistant US Trade Representative for Japan, South Korea, and APEC, stated that, in line with the theme of building a resilient and sustainable future, the Joe Biden administration has prioritized resilience and sustainability in US economic, trade, and investment policies to better prepare for future shocks.

During the APEC High-Level Week, US Trade Representative Katherine Tai and Secretary of State Anthony Blinken will meet with their counterparts on November 14 and 15.

"We will focus on trade, and we look forward to engaging with partners, business leaders, civil society representatives, and other stakeholders," said Wilson.

Assistant Secretary Wilson said there would be an ambitious agenda for the APEC ministerial meetings. Trade Representative Katherine Tai and Secretary of State Blinken are expected to have vigorous discussions on how APEC economies can continue to work together to boost resilience for their people.

Specifically, trade ministers will discuss how APEC economies can cooperate ahead of the 13th World Trade Organization Ministerial Meeting, to be held in Abu Dhabi next February. The ministers will also continue discussions they began in Detroit on measures to enhance sustainability and incorporate them into trade policies across the APEC region.

Trade among APEC members surged to $9.9 trillion.

Statistical data shows that from 1989 to 2010, trade among APEC members increased nearly fivefold, from US$1.7 trillion to US$9.9 trillion; the average tariff rate in the region decreased nearly sixfold, from 16.9% in 1989 to 5.8% in 2010; and trade transaction costs also decreased significantly, through two 5% cuts in 2006 and 2010.

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