LIMA, PERU (LankaXpress) – At the 31st Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting, Chinese President Xi Jinping emphasized the need for solidarity, innovation, and openness to address the challenges facing the Asia-Pacific region. Speaking in Lima on November 16, 2024, Xi outlined a three-point proposal aimed at fostering regional economic integration, advancing green innovation, and promoting inclusive development.
Strengthening Regional Cooperation
Xi stressed the importance of multilateralism and an open economy in building a connected and dynamic Asia-Pacific region. He called for the removal of barriers to trade, investment, and technology to ensure stable and smooth industrial and supply chains. Highlighting the Free Trade Area of the Asia-Pacific (FTAAP) as a cornerstone for regional prosperity, Xi welcomed the adoption of a new guiding document to reinvigorate the FTAAP process, originally initiated at the 2014 APEC summit in Beijing.
China’s commitment to fostering openness was a central theme of the speech. Xi highlighted ongoing initiatives, including the implementation of the Regional Comprehensive Economic Partnership (RCEP) and efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). He also announced the signing of a protocol to upgrade the free trade agreement with Peru and the conclusion of negotiations with ASEAN on Free Trade Area 3.0.
Advancing Green Innovation
President Xi positioned green innovation as a catalyst for Asia-Pacific development, urging members to leverage the ongoing scientific and industrial revolution. He emphasized the need for cooperation in areas such as artificial intelligence, quantum information, and health sciences, while fostering a fair and inclusive innovation ecosystem.
“To build a clean and beautiful Asia-Pacific, we should prioritize ecological protection and engineer an all-round green transition in economic and social development,” Xi said. China, he noted, is deepening partnerships on green innovation, launching initiatives like the Global Cross-Border Data Flow Cooperation Initiative and advocating for the digitalization of supply chains within APEC frameworks.
Promoting Inclusive Development
Xi’s third point focused on inclusivity, underscoring the need to support developing economies and disadvantaged groups. He commended Peru’s efforts to transition from an informal to a formal economy, aligning with China’s philosophy of promoting fairness and social well-being. China pledged to advance initiatives within APEC to boost residents’ incomes and support small- and medium-sized enterprises, ensuring equitable development across the region.
China’s Vision for the Future
Xi reaffirmed China’s role as a driver of regional and global development, citing recent domestic reforms aimed at high-quality economic growth, technological advancement, and ecological sustainability. Looking ahead to China’s hosting of the APEC summit in 2026, Xi expressed a commitment to deepening cooperation and creating shared opportunities for the region’s people.
Quoting an ancient Chinese proverb, Xi concluded, “A man of virtue, while establishing himself and pursuing success, also works to help others establish themselves and succeed.” He extended an invitation for all parties to join China in pursuing a future of peaceful development, mutual benefit, and common prosperity.
The APEC Economic Leaders’ Meeting brings together leaders from 21 member economies to discuss strategies for sustainable growth and regional integration. This year’s summit, hosted by Peru, focused on strengthening cooperation amid global economic uncertainties and geopolitical tensions.
