At the 31st APEC Economic Leaders' Meeting in Peru, Chinese President Xi Jinping highlighted the indispensable role of the Asia-Pacific region in driving global development. Emphasizing collaboration, Xi called for building an open and interconnected paradigm for Asia-Pacific cooperation, making green innovation a key catalyst, and upholding an inclusive vision for the region's growth.
Established in 1989, APEC has grown into one of the most influential economic cooperation mechanisms in the Asia-Pacific, encompassing 38% of the world's population, 47% of global trade, and 61% of GDP. Over the past 35 years, APEC has been instrumental in fostering economic integration and creating what many refer to as the Asia-Pacific economic miracle.
However, Xi acknowledged that the global economy is currently navigating unprecedented challenges, including rising protectionist sentiments and declining openness. In response, he stressed the need for the Asia-Pacific to remain the engine of global growth by embracing high-quality development and maintaining high-level openness.
China's commitment to this vision is evident in its push for the Free Trade Area of the Asia-Pacific (FTAAP), a roadmap initially proposed in 2006 and endorsed under China's chairmanship in 2014. This initiative aims to elevate regional economic integration and spur efforts towards a more open Asia-Pacific economy.
Xi concluded by reaffirming China's dedication to modernization through open policies, leveraging its vast market, complete industrial supply chains, and a talented workforce to bolster global investor confidence. \"Reform and opening-up is a historic process in which China and the world achieve development and progress together,\" Xi stated, underscoring the nation's role in shaping a resilient and prosperous Asia-Pacific.
Reference(s):
cgtn.com
