Additionally, according to Mr. Wong, APEC officials acknowledge “at the large stage” the need for stronger business links.
” But each one may face considerations, domestic circumstances, and may not be able to move at the same rate”, he said.  ,
Mr. Wong cited the climate change example as a” starting point” for efforts to combat global warming and combat climate change by lowering carbon prices and ending subsidies for fossil fuels. Not everyone can, however, make that move. Each one will proceed at their own pace, because there are private concerns, political differences and so on”.
He noted that the most crucial thing is that at least the ending place be understood well.
” We recognise that not everyone can move in combination, and so we will try to gather like-minded markets to move initially”, he said.
Mr Wong added that among the APEC markets, the smaller, more opened economies like Singapore, New Zealand and Chile, have usually come together to be “pathfinders”.
This was done with the P4 ( Brunei, Singapore, Chile and New Zealand ), which resulted in the CPTPP ( Comprehensive and Progressive Agreement for Trans-Pacific Partnership ), and then the Digital Economy Partnership Agreement, noted Mr Wong.
P4 is a wide-ranging financial deal signed in 2005 and the CPTPP is a free-trade partnership between 11 states, including , Brunei, Singapore, Chile and New Zealand, which was signed in 2018. The , Digital Economy Partnership Agreement was originally signed by Singapore, Chile and New Zealand in 2020 , establishing innovative approaches and cooperation in online business problems. In 2024, South Korea enlisted.
Chile, New Zealand and Singapore have  , come together to form a joint working group around deal in the natural economy, he said.
We hope this will allow us to once more act as a model for cross-border deal in low-carbon actions and determine the requirements for trade and cooperation.
” If we are able to put in place this model, maybe this may later develop into another foreign action”.
Mr. Wong may be traveling to Rio de Janeiro, Brazil for the G20 Summit after spending time in Peru from November 14 to November 16.