China calls for joint efforts to build FTAAP

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) while delivering a keynote speech at the Asia Pacific Economic Cooperation (APEC) CEO Summit in Lima, capital of Peru.

President Xi said that FTAAP "is a strategic initiative critical for the long-term prosperity of the Asia-Pacific. Xi told the global leaders to firmly pursue the FTAAP as an institutional mechanism for ensuring an open economy in the Asia-Pacific. The FTAAP process was launched at the 2014 APEC Economic Leaders' Meeting in Beijing with the endorsement of a roadmap. A "collective strategic study" was conducted subsequently, as agreed by the APEC members, and the result should be reported to the economic leaders by the end of 2016.

Source: VOV5