BEIJING, Nov. 17 (Xinhua) – Trade experts have called for efforts to push forward the construction of the Asia-Pacific Free Trade Area.
Free trade arrangements covering all the economies of the Asia-Pacific Economic Cooperation (APEC) will not only help boost the free flow of trade and investment in the region, but will also support a more open economy in Asia and the Pacific, experts said.
Jia Xiaodong, a researcher with the China Institute of International Studies, said the rise of unilateralism and protectionism has raised doubts about growth in the Asia-Pacific region, with most countries planning to boost economic cooperation to boost demand.
Jia said economic globalization has become an irresistible trend, while “the proposal to build a free trade area is still desirable for most APEC economies.”
The Asia-Pacific Free Trade Agreement (APTA) proposal began in 2004, before it was written in the APEC Declaration in 2006. At the Asia-Pacific Economic Cooperation (APEC) meeting in Beijing in 2014, the initiative made a breakthrough with the adoption of the members of the Economic Cooperation Forum For Asia Pacific (AP) …