Rules-Based Open Plurilateralism Emerges as Solution to Global Trade Uncertainties

Amid rising protectionism and unilateralism, South Korea's Trade Minister Yeo Han-koo has proposed rules-based open plurilateralism as a solution to address global trade uncertainties. At the Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting, Yeo emphasized the importance of adapting the multilateral trading system to changing global trade norms, citing the need for deeper cooperation to address the digital divide and promote digital trade infrastructure. To this end, South Korea has proposed an "AI for Supply Chain" initiative and a joint statement on maintaining zero tariff rates for electronic transmissions.

Key Takeaways:

• Rules-based open plurilateralism can help address global trade uncertainties caused by protectionism and unilateralism.
• APEC member economies agreed that global trade faces challenges including unilateral trade protection measures, non-tariff trade barriers, and the integration of economic and security issues.
• The APEC member economies reached consensus on the need for deeper cooperation to address the digital divide between developed and developing nations.
• South Korea proposed an "AI for Supply Chain" initiative to boost AI capabilities of developing countries and small and medium-sized firms.
• Seoul also proposed a joint statement on maintaining a zero tariff rate for electronic transmissions as part of efforts to strengthen infrastructure for digital trade.
• APEC accounts for 61 percent of the global gross domestic product and 49 percent of world trade, serving as the world's leading production hub and a vital node in global supply chains.

Statistics:

• 61% of global gross domestic product is accounted for by APEC economies.
• 49% of world trade is accounted for by APEC economies.
• The APEC member economies share constructive discussions on possible solutions to global trade challenges, including rules-based open plurilateralism.

Sources:

• Yonhap News Agency, October 30, 2025. On the day, South Korean Trade Minister Yeo Han-koo called upon the Asia-Pacific Economic Cooperation (APEC) to continue discussions for upgrading the global trade system.