Korea, Singapore and New Zealand Advance Green Trade Pact Talks
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
Officials from Korea, Singapore, and New Zealand reviewed progress on the plurilateral Green Economy Partnership Agreement ahead of APEC meetings.
Senior representatives from Seoul, Singapore, and Wellington held a videoconference to discuss key outstanding issues related to the Green Economy Partnership Agreement (GEPA). The talks occurred prior to the Asia-Pacific Economic Cooperation Economic Leaders’ Week scheduled for later this month in Shenzhen, China.
The Ministry of Trade, Industry and Resources stated that the agreement aims to address challenges posed by trade-related climate measures. A primary focus is the European Union’s Carbon Border Adjustment Mechanism (CBAM), which imposes a carbon price on imported goods comparable to those manufactured within the bloc. The pact seeks to help businesses maintain stable operations amid volatile global trade conditions.
Participants also planned to expand exchanges of policies and technologies in sustainable aviation fuel and construction to promote industrial growth. Singapore, Chile, and New Zealand launched GEPA negotiations last year during APEC leaders’ week in Gyeongju. Korea joined the talks in September, participating in a second round held from Sept. 30 to Oct. 2.
A third negotiation round is scheduled for early 2027. The ministry emphasized that beyond establishing rules, GEPA provides a mechanism for practical cooperation to translate shared priorities into tangible outcomes.
(P.Hansen--DTZ)
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