Asian economies monitor US-China trade talks

KUALA LUMPUR: Asian economiesarecloselymonitoring the progress of the United States and China trade talks in the hope that the disputes will be resolved amicably, said Asia-Pacific Economic Cooperation (APEC) Secretariat executive director Tan Sri Dr Rebecca Fatima Sta Maria yesterday.

She noted there were encouraging signs on the development of the US-China trade talks, especially with the ongoing negotiations between the two giant economies.

“There are many aspects of trade negotiations. In the case of the US and China, the focus has to be beyond tariffs and intellectual property (IP).

“They should also be looking at structural reform that is so important in facilitating trade because, at the end of the day, market access depends on many other aspects. Not just tariffs or IP,” she said during an interview with BloombergTV on the USChina talks and trade in Asia yesterday.

US and Chinese negotiators kicked off two-day highlevel trade talks in Beijing yesterday.

“We are all watching this progress because it is all in our interest to ensure that global trade is not hindered by one particular item or one particular concern.

“All of us are involved (as) global value chains are so connected. So, we will watch with interest, and we wish them all the best. We want to see this resolved. If they work this out, it is good for us,” she added.