He said that two years into the Covid pandemic, the global economy is still grappling with lots of uncertainties and challenges. In these trying times, international cooperation is more important than ever.

He said Hong Kong strongly believes that free and open trade and investment play a significant role in reconnecting the Asia-Pacific region, and is keen and ready to join the Regional Comprehensive Economic Partnership to contribute a part to the building of the wider Free Trade Area of Asia-Pacific.

Yau also mentioned Hong Kong plans to set up a “Digital Economy Development Committee” to accelerate the progress of the digital economy, and called on member economies to leverage digital technology to reduce trade costs, facilitate investment and resume cross-border travel.

He urged members to consider incremental steps forward to address new and emerging environmental goods and further the discussions around environmental services, remarking APEC's role as a pioneer in stimulating trade collaboration to pursue sustainability objectives.