Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Xi Jinping: Accelerate the construction of the Asia-Pacific Free Trade Area and joint strategic research has begun

Xi Jinping: Accelerate the construction of the Asia-Pacific Free Trade Area and joint strategic research has begun



On November 18, Chinese President Xi Jinping delivered a keynote speech entitled “Leveraging the Leading Role of the Asia-Pacific to Address World Economic Challenges” at the Asia-Pacific Economic C…

On November 18, Chinese President Xi Jinping delivered a keynote speech entitled “Leveraging the Leading Role of the Asia-Pacific to Address World Economic Challenges” at the Asia-Pacific Economic Cooperation (APEC) Business Leaders’ Summit and pointed out that it is necessary to accelerate the construction of the Asia-Pacific Free Trade Area and promote Regional economic integration.

Xi Jinping stated that it is necessary to participate on an equal footing and fully consult, maximize the openness and inclusiveness of free trade arrangements, improve the level of the open economy in the Asia-Pacific, and maintain the multilateral trading system. We must be committed to win-win cooperation, oppose protectionism, and promote fair competition.
Accelerate the construction of the Asia-Pacific Free Trade Area
Before the APEC Business Leaders’ Summit, Xi Jinping had just attended the Group of Twenty (G20) Leaders’ Summit held in Antalya, Turkey.
Xi Jinping said that the basic consensus of all countries is that although the world economy is recovering slowly, its foundation is not solid and there is much instability and uncertainty. Many countries are worried that the divergence of monetary policies in developed economies will lead to disorderly capital flows and high global debt, resulting in a lack of market confidence. Coupled with fluctuations in international financial and commodity markets, it will have a greater impact on emerging market countries and developing countries.
Xi Jinping said that global economic growth continues to be lower than expected, potential growth rates are declining, international trade and investment are sluggish, and the world economy may have multiple engines stalling at the same time and then stagnate. For the world economy to completely move from sub-health to health, it is likely to go through a long and tortuous process.
Xi Jinping emphasized that in the context of a challenging world economy, the Asia-Pacific economy is also facing many actual and potential difficulties and risks. How the Asia-Pacific economy maintains the correct direction of development, how to find new economic growth points and consolidate its position as a growth engine deserves serious consideration and in-depth consideration.
To solve the deep-seated problems of the world economy, Xi Jinping believes that monetary stimulus policies alone are not enough. We must make greater efforts to promote economic structural reform and make the supply system more adaptable to changes in the demand structure.
Xi Jinping proposed that the Asia-Pacific should lead the world in this regard and strive to innovate development concepts, development models, and development paths. It is necessary to speed up industrial upgrading, use technological innovation to drive innovation in products, management, and business models, improve the status of Asia-Pacific economies in the global supply chain, and jointly build a shared, coordinated, open, and inclusive global value chain.
Xi Jinping also proposed that we must persist in building an open economy.
Last year, APEC leaders launched the Asia-Pacific Free Trade Area process in Beijing, taking a historic step. Xi Jinping said that new regional free trade arrangements are constantly emerging, causing various countries to worry about fragmentation. “We must speed up the construction of the Asia-Pacific Free Trade Area and promote regional economic integration.” Xi Jinping said.
The joint strategic research on the Asia-Pacific Free Trade Area has begun
Previously, Vice Foreign Minister Li Baodong published signed articles in Chinese and English titled “Continuing Beijing’s Agenda and Writing a New Chapter of Cooperation” in “People’s Daily” and “China Daily” (Southeast Asia Edition) respectively. Among them, he revealed that as a landmark outcome of the APEC meeting in Beijing last year, the Asia-Pacific Free Trade Area process was successfully launched and advanced in an orderly manner.
Li Baodong said that jointly led by China and the United States and with the participation of all APEC members, the joint strategic research on the Asia-Pacific Free Trade Area has started and has now entered the substantive writing stage of the research report. This work will assess the potential impacts and benefits of the Asia-Pacific Free Trade Area, analyze possible paths for its realization, etc., and will submit a report to the leaders before the end of 2016, while also putting forward pragmatic suggestions.
At the same time, APEC economies also strengthen the capacity building of the free trade area and further build consensus on the Asia-Pacific Free Trade Area by holding free trade area policy dialogues, information exchanges and other activities.
Li Baodong pointed out that the construction of the Asia-Pacific Free Trade Area is an important means to deal with the noodle bowl effect and fragmentation risks of trade arrangements, and is confident that it will become a new banner for Asia-Pacific regional economic cooperation after the Bogor Goals.
At the same time, the Beijing Conference adopted the “APEC Connectivity Blueprint (2015~2025)”, establishing the vision and goal of achieving seamless, comprehensive connection and integration of the Asia-Pacific in the next ten years.
At present, China has submitted its 2015 annual report on the progress of blueprint implementation to the APEC Secretariat. On a larger scale, China is working closely with its Asia-Pacific partners to take the Belt and Road Initiative as an opportunity to further promote policy communication, infrastructure connectivity, unimpeded trade, financial integration and people-to-people bonds. As an early harvest, a number of economic and trade, investment, industry, energy and financial projects have begun to take shape. Key infrastructure projects such as cross-border highways, railways, and communication networks are progressing smoothly. The number of signatories to the Asian Infrastructure Investment Bank Agreement has reached 54 and it will be officially operational soon.
In the first half of 2015, the total bilateral trade volume between China and the economies along the “Belt and Road” reached 485.37 billion US dollars. Starting from September 1, 2015, the validity period of the APEC Business Travel Card, the “diplomatic passport” for business people, has been extended from 3 years to 5 years. Business people can enjoy visa-free treatment for APEC economies for a longer period of time after successfully applying once. and fast customs clearance, making cross-border movement of people more convenient.

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