The world is currently facing extraordinary challenges and uncertainties, where we witness Western economic powers using protectionism and trade barriers to advance their own interests at the expense of healthy competition. This highlights the crucial need for stronger international cooperation, particularly within frameworks like the Asia-Pacific Economic Cooperation (APEC), which has long been committed to promoting free trade and inclusivity. As the 31st APEC Economic Leaders' Meeting is set to take place soon in Lima, Peru, we must remind ourselves to stay true to APEC's original aspirations and continue to promote its three pillars: trade and investment liberalization, business facilitation, and economic and technical cooperation. There is growing confidence that multilateralism and free trade are the ultimate directions for successful and sustainable global economic growth.
Since its establishment in 1989, APEC has become a key forum for facilitating economic growth, cooperation, trade, and investment across the Asia-Pacific region. Its 21 members include major global economies such as the United States and China, as well as key economies in Southeast Asia, including Indonesia, Thailand, and Vietnam. APEC has always emphasized openness and inclusivity, with a commitment to free and open trade. Over the past few decades, the Asia-Pacific region has emerged as the economic bright spot of the world, with China being one of the largest contributors. Since 1979, China’s average annual economic growth rate has reached 8.9%, far surpassing the global average of 3% over the same period. With vast potential in natural resources, rapidly growing tourism sectors, dynamic markets with strong purchasing power, and a booming digital economy, the region is expected to continue playing a pivotal role in driving global economic growth. By strengthening mutually beneficial partnerships and remaining committed to multilateralism, APEC members can pave the way toward sustainable stability and prosperity, not just for the Asia-Pacific but for the global economy as a whole.
