The upcoming 33rd APEC Economic Leaders' Meeting may foster consensus across areas including free trade, trade finance and AI regulation, according to a Norwegian scholar of business administration.
The 33rd APEC Economic Leaders' Meeting will take place in China's Shenzhen City from November 18 to 19.
In an interview with China Radio International (CRI), Carl Fey, a professor at the Department of Strategy and Entrepreneurship of BI Norwegian Business School and also a visiting scholar at Harvard University, outlined three priorities he expects to see at the upcoming meeting from the perspective of businesses.
"I would prioritize continued progress towards implementing the free trade area of the Asia Pacific. Making it concrete, not just abstract. Second, I would prioritize efforts to promote the benefits of low tariffs, not only in APEC but also beyond, since some countries are now starting to raise tariffs. Three, I would focus increasingly on services trade, which China has said to be a key priority. I would also work on increased collaboration on AI use and regulation and improved access to trade finance for small and medium enterprises. They, after all, represent 97 percent of the firms in APEC. The small businesses often have difficulty getting the funding they need from the bank," said the scholar.
This will mark the third time China has hosted the meeting. Fey emphasized that the constructive role China has long played within the APEC framework will help build broad regional consensus.
"China has played a key role in APEC, three times hosting the APEC meetings and sharing APEC. I think we're going to see China continue to play an important role in APEC, especially as it plays a larger role globally, not only in China but abroad. And thus, (I'm) really looking forward to see what will come out of this important meeting," he said.
Business scholar expects upcoming APEC meeting to yield practical cooperation outcomes
