APEC Summit successful in boosting regional integration: Chinese official

Zhang Jun (center), director of Department of International Economic Affairs, Chinese Foreign Ministry, speaks at a press briefing in Da Nang, Vietnam on November 11th, 2017. [Photo:gov.cn]

A senior Chinese official says the now concluded APEC Economic Leaders' Meeting was a success for boosting regional integration.

Zhang Jun with the Department of International Economic Affairs at the Chinese Foreign Ministry has made the remarks, while summarizing the results of the APEC Summit following its conclusion over the weekend.

This year's APEC Summit was attended by a number of world leaders, including Chinese President Xi Jinping.

Speaking in Vietnam's Da Nang, the host city of this year's meeting, Zhang Jun says Xi Jinping, along with other leaders at the Summit, have laid out important future visions for the Asia Pacific.

"During the summit, President Xi Jinping has proposed many key initiatives to help build an open Asia-Pacific economy, and to promote more innovation-driven, interconnected and inclusive development. The president also exchanged views and reached a consensus with other leaders to adopt the Da Nang Declaration which looks at ways to develop the region in the near future," says Zhang.

The foreign ministry official says the path to an open economy and development serves the shared interests and common aspirations of all regional partners, and this has been reflected in the Da Nang Declaration.

"The Da Nang Declaration stresses that all parties shall work together to build a community with a shared future across the Asia-Pacific region and deepen regional economic integration. It also says that all parties should push forward trade and investment liberalization and facilitation, and eventually work towards the establishment of the Free Trade Area of the Asia Pacific," says Zhang. 

Zhang adds that the document also calls on all parties to uphold multilateralism and oppose protectionist sentiments.

The declaration also welcomes the establishment of the APEC Vision Group to assist senior officials in shaping a post-2020 Vision.

The vision would build upon past achievements, address unfinished business, and explore new areas of cooperation to better respond to new and emerging challenges and pressing issues in the coming decades.

"Based on past cooperation, attendees of the summit have agreed to uphold the development ideas of innovation, inclusiveness, connectivity and sharing. They have also agreed to push forward structural reforms and to increase connectivity. These are in fact also the same values promoted by the 'Belt and Road' initiative," says Zhang. 　

The APEC Economic Leaders' Week for 2018 will be held in Port Moresby, Papua New Guinea.

Established in 1989, the 21-member APEC is the Pacific Rim's premier economic forum aimed at supporting sustainable economic growth and prosperity in the region.

APEC member economies account for 3 billion people, 60 percent of the world's GDP and 50 percent of global trade.