Minister for Trade Cheong Inkyo (middle) on May 15 delivers a speech at the opening ceremony of the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting at International Convention Center Jeju in Seogwipo, Jeju Island.

By Xu Aiying
Photos = Ministry of Trade, Industry and Energy

The Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting on May 15 opened at International Convention Center Jeju in Seogwipo, Jeju Island.

The two-day event is the first dialogue on multilateral cooperation of trade ministers from major economies amid the rapidly changing global trade environment. They will discuss a range of commerce-related issues such as liberalization and facilitation of trade and investment and regional cooperation.

Korea is chairing the meeting as the host nation of APEC for the first time since 2005. The attendees include trade ministers from 21 Asia-Pacific states such as the U.S., China, Japan, Australia, Canada and Chile and high-ranking officials from international bodies including the World Trade Organization and the Organisation for Economic Co-operation and Development.

The ministry also organized three sessions under the themes of this year's APEC Summit: innovation of artificial intelligence for trade facilitation; connectivity through the multilateral trade structure; and prosperity through sustainable trade.

Minister for Trade Cheong Inkyo on May 15 said in his speech at the opening ceremony, "As cross-border trade and interconnected supply chains continue to expand, growing uncertainties are placing a strain on the global economy and trade landscape," adding, "Given this challenging global trade environment, the role of APEC role is more crucial than ever."

"Jeju Island has long embodied the values of community in its way of life. Under this spirit, I hope today's MRT meeting will raise a solid foundation for dialogue and collaboration to overcome the political and economic challenges as well as uncertainties that we encounter."

 Attendees of the APEC Ministers Responsible for Trade Meeting on May 15 pose for a group photo at the opening ceremony held at International Convention Center Jeju in Seogwipo, Jeju Island.

During the meeting, Minister Cheong also held relay bilateral talks on trade cooperation with his counterparts from China, Vietnam, the Philippines, Malaysia and New Zealand. He also spoke to U.S. Trade Representative Jamieson Greer on pending issues between Seoul and Washington.

xuaiy@korea.kr