A Hong Kong official has urged Asia-Pacific economies to deepen collaboration on artificial intelligence and other digital technologies to enhance trade and cross-border logistics, aiming to counteract rising protectionism and unilateralism.
Algernon Yau Ying-wah, secretary for commerce and economic development of the Hong Kong Special Administrative Region, made the remarks at the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting, held on Jeju Island, South Korea, from Thursday to Friday.
The APEC gathering focused on the sweeping tariff issues, with members expressing concern in a joint statement over the “fundamental challenges” faced by the global trading system.
Yau said that, as a staunch advocate of free trade, Hong Kong is well positioned to support sustainable supply chains and promote regional partnerships through technology driven solutions.
In light of the transformative power of AI and the heightened trade disputes, it is even more important to enhance regional economic cooperation among Asia-Pacific countries and regions, he added.
“Supply chains are the driving engines for the global economy, yet they are also highly sensitive and vulnerable to external shocks,” Yau said during a discussion session on “Prosperity through Sustainable Trade”.
He added that Hong Kong has rolled out an array of supportive measures to encourage local enterprises to adopt new technologies, facilitating the digital transformation of supply chains.
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As part of these efforts, the SAR government is collaborating with industry players to build a port community system that uses big data and blockchain technology to track goods and synchronize logistics updates among stakeholders.
Amy Chan Yuen-man, deputy secretary for transport and logistics, said at a roundtable in Hong Kong this week that the system is expected to be completed this year and to be launched in January. It will help deepen international port connectivity and address the current fragmentation of trade-related information. Chan Hey-man, chief financial officer at courier company SF Intracity, at the same event described the initiative as “a good step” but acknowledged the complexities involved.
He said achieving cross-border information sharing requires extensive dialogue between economies. Moreover, it poses a challenge for some regional markets that still depend on paper documents to share data online, Chan Hey-man said.
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Elsa Yuen May-yee, president of the Hong Kong Logistics Association, said that AI adoption is a global trend in the trade and freight sectors. But she added that the lack of land space is one of the obstacles to promoting digital transformation, and called on the government to expedite and streamline the process of land allocation to enable businesses to implement smart facilities.
Hong Kong’s Customs and Excise Department is also ramping up efforts to digitalize its operations. The department is developing the Customs Big Data Application System to enhance its ability to detect and combat smuggling and other customs-related crimes. It has already deployed high-resolution 3D scanning and automated contraband detection technologies to improve efficiency.
Moreover, the city is advancing its one-stop electronic platform, Trade Single Window, which allows businesses to submit import and export documents digitally. The system is designed to streamline trade processes and further solidify Hong Kong’s position as a trading hub.
