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At the APEC Ministerial Meeting in South Korea, Minister Grace Fu highlighted the need for multilateral cooperation, technology adoption, and sustainable trade to strengthen resilience and shared growth across the Asia Pacific region.
Grace Fu, Minister-in-charge of Trade Relations has called for stronger multilateral cooperation and the responsible use of emerging technologies such as artificial intelligence to keep trade open and sustainable. She made these remarks while attending the Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting (AMM) in Gyeongju, Republic of Korea, held from 29 to 30 October 2025.
The meeting, chaired by the Republic of Korea, brought together Ministers from all 21 APEC economies, alongside representatives from ASEAN, the Organisation for Economic Co-operation and Development (OECD), and the World Trade Organization (WTO).
Under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper”, discussions centred on advancing cooperation, supporting innovation, and promoting shared prosperity through sustainable trade.
At the meeting, Minister Fu highlighted the importance of harnessing technology and embracing globalisation to build resilient trade systems and supply chains. She reaffirmed Singapore’s commitment to the rules-based multilateral trading system of the WTO and stressed the need for reform to ensure its continued relevance.
In addressing global economic fragmentation, Minister Fu noted that APEC plays a key role as an incubator of ideas to develop initiatives that can be scaled across economies. She also highlighted the private sector’s critical role in making these initiatives a success.
During the meeting, Singapore, in partnership with Australia, secured APEC’s endorsement to establish the APEC Centre of Excellence for Paperless Trade (ACCEPT), which will be hosted at the Singapore Business Federation.
ACCEPT will drive public-private collaboration to promote the adoption of paperless trade across the APEC region through capacity building, industry support, and resource mobilisation. By facilitating the digitalisation of key trade documents, the centre aims to improve efficiency in trade processes, reduce business costs, and help micro, small, and medium enterprises (MSMEs) access global markets more easily.
On the sidelines of the meeting, Minister Fu joined Alberto van Klaveren, Minister of Foreign Affairs, Chile and Todd McClay, Minister for Trade and Investment, New Zealand to launch negotiations for the Green Economy Partnership Agreement (GEPA). The launch was announced and witnessed by the leaders of the three countries.
Minister Fu also signed Singapore’s first Memorandum of Cooperation (MOC) on Rice Trade with Nguyen Hong Dien, Minister of Industry and Trade, Viet Nam. She held bilateral discussions with counterparts from Chile, Mexico, Peru, the Philippines, Russia, Viet Nam, and the United States, as well as with the WTO Director-General. Additionally, Minister Fu took part in discussions with Digital Economy Partnership Agreement (DEPA) Parties to facilitate digital trade.
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