Within the framework of APEC, the 32nd APEC Ministers Responsible for Trade Meeting (MRT 32) took place from May 22-23 in Suzhou City, Jiangsu Province, China, under the chair of Chinese Minister of Commerce Wang Wentao.
The meeting was attended by representatives from all 21 APEC member economies, the APEC Business Advisory Council (ABAC), and leaders of several international organisations, including the World Trade Organisation (WTO), the United Nations Conference on Trade and Development (UNCTAD), the Association of Southeast Asian Nations (ASEAN), the Pacific Economic Cooperation Council (PECC), and the Pacific Islands Forum (PIF) Secretariat. Viet Nam’s delegation was headed by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan.
MRT 32 took place against the backdrop of a global trading system continuing to face numerous difficulties and challenges. According to assessments by the APEC Policy Support Unit (PSU), rapid technological changes, population ageing, climate change, and supply chain disruptions are having significant impacts on labour markets, competitiveness and global production systems.
Against this backdrop, APEC continues to serve as a leading forum for regional economic cooperation, jointly striving to address challenges in trade, investment and economic development with a view to achieving sustainable growth. Inspired by the theme of APEC 2026, “Building a Prosperous Asia-Pacific Community,” in line with the APEC Putrajaya Vision 2040 and the Aotearoa Plan of Action for the prosperity of all people and future generations, host economy China identified three priorities for this year: Openness, Innovation and Cooperation.
Accordingly, this year’s meeting focused on two main agenda items.
At Session 1 on building an open and predictable regional trade and economic order, the meeting heard a briefing by WTO Director-General Dr Ngozi Okonjo-Iweala on the outcomes of the 14th WTO Ministerial Conference (MC14), held in March 2026 in Yaoundé, Cameroon, as well as the WTO General Council plenary session convened earlier this month.
In general, the majority of APEC trade ministers reaffirmed the importance of a rules-based multilateral trading system, with the WTO at its core. They recognised the WTO’s role in promoting global trade and acknowledged that WTO-agreed rules constitute an indispensable part of the global trading system.
However, the WTO is currently facing multiple challenges and requires substantive reforms to improve all of its functions — including dispute settlement, trade negotiations, policy monitoring and addressing emerging issues — thereby ensuring that the organisation remains relevant in a changing global trade environment and better serves the interests of its members.
For its part, Viet Nam officially ratified the WTO Agreement on Fisheries Subsidies in September 2025 and joined the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) in October 2025. Viet Nam called on APEC economies to continue dialogue, information exchange, sharing of best practices, technical assistance and capacity-building through APEC’s role as an incubator of ideas, in order to support WTO member discussions and achieve concrete and substantive progress.
At Session 2 on advancing new drivers for innovative and dynamic trade and investment cooperation, ministers shared the view that emerging technologies such as artificial intelligence (AI) are bringing profound changes to global trade. This reality is opening up new opportunities for cooperation while also posing considerable challenges for economies, businesses and workers alike.
Alongside emerging technologies, green industry is becoming a new driver of global economic growth as the world accelerates the transition towards sustainable and low-carbon development models.
In the context of a global economy being rapidly reshaped by digital transformation, green transition and technological innovation, promoting new drivers for trade and investment cooperation has become an urgent necessity, contributing to the building of a more dynamic, connected and sustainable region and world.
Addressing Session 2, Deputy Minister Nguyen Sinh Nhat Tan proposed four recommendations for future regional trade and investment cooperation. First, governments should play a facilitating role, businesses should take the lead, and public-private partnerships should move forward together.
Second, cooperation should be strengthened in order to establish incentive mechanisms and effectively mobilise and utilise resources, in the spirit that “internal strength is fundamental, strategic, long-term and decisive, while external resources are important and breakthrough-oriented”.
Third, cooperation should be intensified in developing high-quality human resources capable of meeting the demands of green and digital transformation.
Fourth, greater cooperation and technology transfer in science and technology should be promoted, with strong support needed among economies and from leading global enterprises, particularly in areas such as artificial intelligence, biotechnology, quantum technology, semiconductors and energy.
MRT 32 concluded on May 23 with the adoption of a joint statement by APEC Trade Ministers, accompanied by an Annex on the Roadmap for Innovative, Competitive and Resilient Services.
