Xi calls for free and open trade at APEC economic leaders’ meeting

BANGKOK – President Xi Jinping said on Saturday that free and open trade and investment are among the goals and principles of the Asia-Pacific Economic Cooperation (APEC) and an important pillar in realizing the Putrajaya Vision 2040.

Xi made the remarks when he continued his attendance at the 29th APEC Economic Leaders’ Meeting, which focused on discussions on sustainable trade and investment. The President stressed the importance of the following:

First, uphold true multilateralism and uphold the multilateral trading system. More needs to be done to safeguard the rules-based multilateral trading system, ensure the security and stability of global industrial and supply chains, foster an open, fair and non-discriminatory trade and investment environment, and strive to quickly reach a comprehensive, high-standard Asia-Pacific free trade area.

Second, champion inclusiveness for the benefit of all. More attention should be given to inclusive development. Efforts are needed to build a regional economic cooperation architecture with equal consultation, joint participation and shared benefits, and foster a large Asia-Pacific market that brings benefits to all, so that all economies can grow together through interconnected development and achieve gains – win cooperation through complementarity.

China proposed initiatives to revitalize rural areas, support small and medium enterprises that use special and sophisticated technologies to produce new and unique products, and advance economic inclusion through trade and investment. They aim to spread the dividends of development and innovation among more people and facilitate inclusive and sustainable development for all in the Asia-Pacific region.

Third, maintain open regional cooperation for the prosperity of Asia-Pacific. It is important to take more initiatives to open up and raise the level of regional economic cooperation in all respects. China will not waver in its commitment to high-level opening up. China will open its door even wider.

The fifth China International Import Expo held recently is another demonstration of China’s firm determination to uphold free and open trade and open up its market to the world. China will do more to import quality goods and services and create more market, growth and cooperation opportunities for the world.

The meeting released the 2022 APEC Economic Leaders Statement and the Bangkok Bio-Circular-Green Economy Goals.

Wang Yi was present at the meeting.

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