Trade and economic growth continue to improve across the Asia-Pacific. Yet, progress is uneven and the outlook for the medium-term is not as favorable as it could and should be.

　　Trade ministers from China and the 20 other APEC member economies are meeting in the port city of Qingdao to harness new growth drivers and ensure that businesses and people throughout the region feel the benefits.

　　Part of this involves further opening of markets and lowering of tariff barriers. APEC economies have taken great strides in this respect over the past 25 years through substantial policy and technical coordination.

　　This work has been integral to solidifying the Asia-Pacific’s position as an engine of global growth and delivering economic opportunities that raised living standards and prosperity in the region to record levels.

　　APEC trade ministers will look towards new trade and investment frontiers. An important aspect of this is building greater capacity for the development of comprehensive, high quality free trade agreements.

　　At the same time, focus will be on the complex task of reducing trade barriers behind borders and at the frontier to allow goods, services, people and capital to flow from one economy to another more cheaply and efficiently.

　　APEC economies have led the way in areas such as the simplification of customs procedures and cutting unnecessary administrative costs, which have provided a critical boost to companies that underpin regional and global trade and economic progress.

　　There is more work to be done in these areas and to address the next generation trade issues, such as the harmonization of global data standards and industry regulations and creation of more integrated, inclusive and secure supply chains.

　　APEC trade ministers will take the next step in advancing this process.

　　For trade and economic growth to realize its full potential it is imperative to foster conditions that support robust product and service innovation and lift work force productivity.

　　APEC trade ministers will endeavor to make it easier for start-ups and aspiring entrepreneurs, generators of the commercial ideas of tomorrow, to flourish and establish rewarding business partnerships across the region’s economies.

　　This includes improving access to education and skills training vital to long-term human resources development.

　　Fundamentally, APEC’s agenda during China’s host year in 2014 is all about bringing diverse economies, businesses and people closer together, promoting new and better employment opportunities and bridging gaps in income and quality of life. APEC trade ministers will pursue actions that reflect this vision and can play an important role in making them a reality in Qingdao and beyond.