Minister seeks to accelerate economic integration
Print Edition
JOINT efforts should be made to speed up the economic integration process in the Asia-Pacific region, with the Free Trade Area of the Asia-Pacific (FTAAP) a long-term vision, China’s Minister of Commerce Gao Hucheng said in Beijing yesterday.
The Asia-Pacific economy is playing a critical role in the world, serving as the growth engine of the global economy, Gao said in opening remarks at the Asia-Pacific Economic Cooperation ministerial meeting.
APEC has made important contributions to trade and investment liberalization and closer economic and technology cooperation among member economies, said Gao, who co-chaired the meeting with Chinese Foreign Minister Wang Yi.
APEC’s 21 economies have accounted for 57 percent of the world’s total gross domestic product, and all member economies need to use wisdom and courage to continue safeguarding the multilateral trading system in an unswerving manner, he said.
“In the meantime, all APEC members should actively promote economic and technology cooperation and seek mutual benefit and common development through closer partnership,” Gao said.
“We should foster an Asia-Pacific economy full of dynamism,” Wang said in his opening remarks.
APEC’s member economies should seek growth bonus from reforms, generate growth momentum through innovation, and equip the regional economy with a strong engine, Wang said.
They should forge closer partnership featuring interlinked policies, similar ideals, openness and inclusiveness, he added.
All members should build a cooperation pattern on the basis of mutual benefit to promote common development, strengthen coordination of macro-economic policies, tackle global challenges with all their strength and increase input on economic and technology cooperation, Wang said.
Since the start of this year, all member economies have conducted comprehensive and in-depth discussions on an array of economic and trade issues, and important consensuses have been achieved on a set of topics including facilitating the building of the FTAAP and supply chain cooperation, Gao said.
The meeting is due to wrap up today.
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