Xi Jinping, Putin call for Asia-Pacific free trade and enhanced China-Russia ties

Asia-Pacific, Europe, News November 20, 2016 , by IRIA No Comments

China, Russia to promote establishment of free trade zone in Asia Pacific Region, enhance mutual support and consolidate political and strategic mutual trust.

China and Russia should strengthen coordination and collaboration in Asia Pacific region and other multilateral mechanisms, the leaders of two countries agreed.

Chinese President Xi Jinping on Saturday called for joint efforts by China and Russia to push forward the process of the Free Trade Area of the Asia-Pacific (FTAAP).

Xi told his Russian counterpart Vladimir Putin at a bilateral meeting that both sides should fully implement the consensus reached at the 2014 APEC Beijing meeting and other meetings in recent years.

The FTAAP process was launched at the 2014 Beijing meeting and a roadmap was endorsed. A collective strategic study on the FTAAP was conducted subsequently, as agreed by the APEC members, and the result should be reported to the economic leaders by the end of 2016.

The presidents of the two countries, Vladimir Putin and Xi Jinping, held talks on November 19 on the sidelines of a summit of the Asia-Pacific Economic Cooperation (APEC) group in Lima, Peru.

Delivering a keynote speech at the APEC CEO Summit earlier Saturday, Xi called for concerted efforts to advance the construction of the FTAAP, noting that it is a strategic choice concerning the long-term prosperity of the region.

During the meeting with Putin, Xi underlined the need for China-Russia cooperation under the APEC framework in a bid to promote the bloc to contribute more to regional and global economic growth.

The Chinese President called on the two neighboring nations to enhance synergy of their national development strategies, and further integrate the construction of the Belt and Road Initiative and the Eurasian Economic Union (EEU).

Russian President Vladimir Putin said Russia and China should strengthen coordination and collaboration in APEC and other multilateral mechanisms.

He said that the high-level relationship between Russia and China is very significant for global peace and stability, noting both sides should maintain close contact.

Mr. Putin praised the rapid development of trade, industrial and high-tech ties between Moscow and Beijing and also revealed his plans to visit China in May 2017 at the meeting in Peru.

China, Russia should promote establishment of free trade zone in Asia Pacific Region

China’s President Xi Jinping during a meeting with Russia’s President Vladimir Putin at the APEC (Asia-Pacific Economic Cooperation) summit in Lima (Peru) said China and Russia should support the process of forming in the Asia-Pacific Region (APR) of a free trade zone.

“Russia is an important member of APEC, and both countries should improve cooperation in the framework of this forum, should implement important agreements, reached at the meeting this year, which include consensus reached in Beijing,” the Chinese Foreign Ministry quoted the country leader. “The countries should enforce the measures to promote the process of establishing a free trade zone in APR, and also favor successful results of the summit in Lima as we all APEC’s even bigger input in the economic growth within APR and globally.”

Russia’s presidential press secretary Dmitry Peskov said earlier, “the leaders supported strengthening of cooperation within the APEC for the purpose of delivering Bogor goals [a set of targeted goals for realizing free and open trade in the Asia-Pacific – TASS].”