PORT MORESBY - Chinese President Xi Jinping called on Asia-Pacific Economic Cooperation (APEC) economies to bring their cooperation to a higher level based on a keen appreciation of the trend of the world and its economy.
Underlining the trend of economic globalization, economic integration in the region, and an open economy, Xi urged the economies to keep the momentum of Asia-Pacific cooperation during a speech at the 26th APEC Economic Leaders’ Meeting hosted by Papua New Guinea (PNG) Prime Minister Peter O’Neill here on Sunday.
“Our world is undergoing rapid development and changes,” Xi said at the meeting under the theme Harnessing Inclusive Opportunities, Embracing the Digital Future.
“We have reached a crossroads of history, when we must have a keen appreciation of the trend of our world and take the pulse of the world economy,” he said, “That is how we will be able to respond to the call of our time and chart our future course accordingly.”
Firstly, the economies need to advance economic integration in the region so as to build an open economy in the Asia-Pacific, the Chinese president said.
“We should continue to promote trade and investment liberalization and facilitation,” he said.
He called on the economies to adopt an open, inclusive and transparent approach to the various kinds of free trade arrangements to ensure coordinated and positive interactions among them.
“We need to firmly uphold the rules-based multilateral trading system and say no to protectionism,” he said.
The World Trade Organization (WTO) is exploring a new round of reform, Xi noted, saying such reform should be designed to uphold the core values and underlying principles of the multilateral trading system. (Xinhua)