As world leaders prepare to gather in the Republic of Korea (ROK) for the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, New Zealand Trade Minister Todd McClay has emphasized APEC's vital role in promoting open trade amid rising protectionism and geopolitical frictions.
The 32nd APEC Economic Leaders' Meeting will be held in Gyeongju, the ROK from Friday to Saturday. It will run under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper".
In an interview with China Global Television Network (CGTN) ahead of the summit, McClay underscored APEC's unique ability to bring together diverse economies to seek common ground on trade and economic policies.
"Forty percent of the world's population, almost half of the world's economy will be meeting together [in the ROK] -- both ministers and leaders. We must grab hold of that as a chance and opportunity to talk about ways to grow trade and not restrict trade, because international trade is good for consumers, for consumer choice, but it also grows businesses and grows wealth and economies," said McClay.
Asked about APEC 2025's potential to ease global tensions, McClay highlighted the quiet strength of summit diplomacy behind the scenes.
"I think there are opportunities for ministers and leaders to meet bilaterally to talk, as well as collectively to talk about what some of the roles [of APEC] should be, and the effect that changes in trade and in trade policies can have upon the world economy, as well as individual economies. So, the answer is 'yes, it can.' Should we expect any very large announcements as a result of APEC? We will have to see. But certainly, there are a number of bilateral meetings -- country to country -- and the world will be watching with a lot of interest," said McClay.
He also highlighted New Zealand's strong economic and trade ties with China, anchored by the two countries' Free Trade Agreement.
"Our trade agreement with China is very important to us. It's one of our most important economic relationships. And there are companies in China and New Zealand who have been cooperating together for many, many years. They have formed very strong relationships where they are mutually beneficial, and both sides invest in that relationship, because they know that what they offer in their respective countries grows equally. And so, this is something that we should be very proud of. It is a significant achievement. It is underpinned by that Free Trade Agreement," said McClay.
China has been New Zealand's largest goods trading partner and top export destination for 10 consecutive years. According to China Customs authorities, the bilateral goods trade volume reached 20.15 billion U.S. dollars in 2024.
From the signing of the China-New Zealand Free Trade Agreement in 2008 through 2024, New Zealand's exports to China grew at an average annual rate of 14.1 percent, significantly outpacing the 7.7-percent average annual growth rate of its exports to the rest of the world over the same period.
New Zealand's trade minister sees APEC 2025 as platform to champion open trade
New Zealand's trade minister sees APEC 2025 as platform to champion open trade
