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S. Korea seeks regional cooperation on supply chain woes in APEC session

Diplomacy 16:07 December 06, 2021

SEOUL, Dec. 6 (Yonhap) -- South Korea has called for stronger regional cooperation in ensuring stability in global supply chains during a recent informal session of the Asia-Pacific Economic Cooperation (APEC), the foreign ministry said Monday.

Lee Seong-ho, deputy foreign minister for economic affairs, attended the Senior Officials' Meeting on the Thai island of Phuket from Dec. 1 to 3, along with officials from 20 other APEC member economies, including the United States and China.

The session came as economic uncertainties linger amid global supply chain woes, rising prices and the emergence of the omicron variant feared to undermine economic recovery.

"Deputy Foreign Minister Lee expressed hope that in 2022, discussions will be revitalized regarding stability in supply chains in the Asia-Pacific region and safe cross-border movements," the ministry said in a press release.

"Especially, he called for regional cooperation in addressing supply chain bottlenecks and shortages of component parts," it added.

Lee also underscored the importance of regional cooperation in shifting to clean energy sources and enhancing low-carbon industries for the shared goal of "sustainable" economic growth, the ministry said.

During the meeting, participants agreed to accelerate economic recovery from the pandemic, deepen discussions to restart movement between borders and strengthen cooperation for inclusive and sustainable growth, it said.

Thailand, the host of APEC 2022, said it will seek to continue discussions for the Free Trade Area of the Asia-Pacific, an envisioned regional trade bloc, and cooperation for the resumption of safe cross-border travel.

This undated file photo, provided by Yonhap News TV, shows the Ministry of Foreign Affairs' headquarters in central Seoul. (PHOTO NOT FOR SALE) (Yonhap)

yunhwanchae@yna.co.kr
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