Speaking at the 32nd APEC Economic Leaders' Meeting in Gyeongju, Republic of Korea, on Friday, Chinese President Xi Jinping unveiled a five-point proposal to promote inclusive and mutually beneficial economic globalization and build an Asia-Pacific community.
„First, we must work together to protect multilateral trading system," Xi said, calling on APEC members to strengthen true multilateralism and increased the authority and effectiveness of the World Trade Organisation (WTO) as its core.
He also called for the creation of an open economic environment in the region. He pointed out the need to harmonise and jointly develop Regional Comprehensive Economic Partnership (RCEP) a Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP), to jointly support the creation of Free Trade Areas of Asia and the Pacific (FTAAP).
On the third point, Xi stressed the need for maintain the stability and continuity of industrial and supply chains. This year, APEC commemorates 10th Anniversary of the APEC Connectivity Plan, which Xi said presents an opportunity to achieve "Tangible results in physical, institutional and interpersonal connectivity" and thereby strengthen the foundations for open development in the region.
The fourth point is digital and green business transformation. Xi highlighted projects such as Asia-Pacific Model E-port Network a Cooperation Network on Green Supply Chain, initiated by China in the framework of APEC. These platforms, he said, are key to regional cooperation in digitisation and greening of trade. Xi urged APEC members to use digital technology as a driving cross-border trade and supported practical cooperation in the areas of paperless trade, smart customs and digital solutions.
With the fifth point, Xi stressed the need for shared, equitable and inclusive development. „We have to stick to the philosophy human-centred development, address inequalities in growth and promote globalisation, which is sustainable and beneficial for all peoples of the region," said the President.
Xi also announced that China is providing zero duty For 100 % of customs items of the least developed countries that maintain diplomatic relations with it, and that it is prepared to extend this advantage to all African countries, that have established partnerships with China.
„China will continue to pursue common development and shared prosperity with all the nations of the world,“ Xi Jinping concluded.
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