APEC members urged to build closer links, bolster trade capacities

Amid complex geopolitical challenges, it is more important than ever for member economies of the Asia-Pacific Economic Cooperation to build closer links and strengthen regional trade capacities, experts said at a webinar on Wednesday. She was speaking at the webinar titled "Navigating New Horizons: A Latin Perspective on APEC Trade & Supply Chain Shifts 2024", held by the Pacific Basin Economic Council, a business association in the Hong Kong Special Administrative Region. As more Latin American companies expand into Asia, they also represent a big market for Asian companies looking for new opportunities in the "blue ocean", said Thomas Wong, co-founding partner of accounting and advisory firm CW CPA in Hong Kong. Many years ago, when it was still difficult to have direct logistics connections between Jalisco and Asia, Lepe said he decided to work with Hong Kong carrier Cathay Pacific Airways to connect the city with Guadalajara, which reduced the transit time from eight days to two, saving $700 million a year for the tech ecosystem back then.