Ministry of Commerce: China will step up efforts to promote the Asia-Pacific Free Trade Area process with APEC parties

The head of the International Department of the Ministry of Commerce answers questions from reporters on the adoption of the APEC Putrajaya Vision 2040 by the leaders of APEC

　　On November 20, the 27th APEC Leaders' Informal Meeting passed the "APEC Putrajaya Vision 2040" which guides APEC cooperation in the next 20 years.

The head of the Department of International Economic and Trade Relations of the Ministry of Commerce answered questions from reporters on the economic and trade content.

Question 1: The APEC programmatic cooperation document "Bogor Goals" expires this year. What results have been made by the "Bogor Goals"?

What contribution has China made to the implementation of the "Bogor Goals"?

　　Answer: During the 26 years of the implementation of the "Bogor Goals", APEC economies have adopted individual or collective measures to promote the process of regional trade and investment liberalization and facilitation, and have achieved remarkable economic and social development results.

First, the main regional economic and trade indicators maintained rapid growth.

The average annual GDP growth rate in the APEC region was 3.9%, higher than the world growth level in the same period; the trade volume increased by 5 times, with an average annual growth rate of 6.7%; two-way investment increased by 12 times, with an average annual growth rate of more than 10%.

Second, the level of regional trade and investment liberalization and facilitation has been greatly improved.

The regional average tariff level has dropped from 13.9% to 5.2%, and nearly half of the commodities have achieved zero tariffs; the free trade agreements that most economies have joined include service opening content; APEC economies have also joined the WTO "Trade Facilitation Agreement" .

Third, the process of regional economic integration has continued to accelerate.

The number of free trade agreements that regional economies participate in has increased by nearly 8 times. The members of the Regional Comprehensive Economic Partnership Agreement (RCEP) and the previously effective Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) are mainly APEC. Economy.

At the same time, APEC also proposed to create a higher level of integration in the Asia-Pacific Free Trade Area.

　　In addition, the "Bogor Goals" have also played an important role in reducing poverty, improving the educational level of regional people, and promoting regional energy conservation and emission reduction.

　　Over the years, China has taken pragmatic measures to actively implement the "Bogor Goals."

China’s average tariff level has dropped from 23.6% to 7.5%. The number of free trade agreements has grown from scratch to 19, and the entry barrier for foreign investment has been continuously lowered.

China has also organized a variety of trade promotion activities such as the International Import Expo to increase imports by nearly 18 times, truly making the Chinese market a market shared by the Asia-Pacific region and the world, and making important contributions to the implementation of the Bogor Goals.

Question 2: This APEC informal leadership meeting passed the "APEC Putrajaya Vision 2040" that guides APEC cooperation in the next 20 years. Could you please introduce what is worth paying attention to?

And its significance?

　　A: As you said, this informal leaders’ meeting adopted the "APEC Putrajaya Vision 2040", which aims to build an open, dynamic, strong and peaceful Asia-Pacific community by 2040, and realize the people of Asia-Pacific. Prosperity with future generations.

The main contents of the new vision include:

In terms of trade and investment,

APEC will continue to build a free, open, fair, non-discriminatory, transparent and predictable trade and investment environment; support the multilateral trading system and promote the stability and predictability of international trade; continue to promote regional economic integration This includes promoting the process of the Asia-Pacific Free Trade Area and promoting high-standard and comprehensive regional arrangements.

In terms of digital economy and digital trade,

APEC will enable people in the Asia-Pacific region and the business community to better participate in the global economy through new formats and models of digital economy; promote innovative growth and promote the development of digital trade.

In terms of inclusive economic development,

APEC is committed to bringing more opportunities for small and medium-sized enterprises and women to participate in and benefit from economic development, so as to make economic development more sustainable and resilient.

　　Under the current unfavorable situation of the global spread of the new crown pneumonia epidemic and the increasing downward pressure on the world economy, the "APEC Putrajaya Vision 2040" has shown a positive attitude to promote economic globalization, integration, and regional open and inclusive development. It provides new momentum for the growth of the Asia-Pacific economy, and also injects a boost to the Asia-Pacific and even the global economy.

　　The new vision continues the spirit of the "Bogor Goals" to promote the liberalization and facilitation of regional trade and investment, maintains APEC's traditional value of supporting the multilateral trading system, and honors the Asia-Pacific economies' long-term commitment to maintain an open regional economy and promote economic integration.

　　The new vision captures the characteristics of the fourth industrial revolution and the vigorous development of the digital economy. It will drive the new industrial revolution in the Asia-Pacific region in the next 20 years and promote innovation and growth.

　　The new vision also pays attention to regional balance, sustainable and inclusive growth, emphasizes that the promotion of economic development must be "people-centered," so that results benefit all groups, and regional economic growth supports global cooperation.

Question 3: How will China implement the "APEC Putrajaya Vision 2040" economic and trade work?

　　Answer:

Promoting the construction of a free, open, fair, non-discriminatory, transparent and predictable Asia-Pacific trade and investment environment is inseparable from the multilateral trading system and rules.

With the current multilateral trading system in serious difficulties, China is supporting the multilateral trading system with the WTO at its core with practical actions, including promoting the appointment of a new WTO Director-General as soon as possible to resolve the crisis of the Appellate Body.

China will also work with APEC economies to promote the WTO negotiation process in various fields through practical cooperation such as capacity building and information exchange.

Second, China will continue to promote regional economic integration.

In his keynote speech at the opening ceremony of the third CIIE, President Xi Jinping emphasized that China will unswervingly expand its opening up, and more effectively realize the connection of internal and external markets and the sharing of essential resources.

This demonstrates China's firm determination to promote economic globalization and regional integration.

Although the current economic globalization is hindered and the new crown pneumonia epidemic has added new variables, the positive momentum of the process of economic integration in the Asia-Pacific region continues.

The RCEP has been formally signed and the CPTPP has taken effect, providing a clearer path for deepening the economic integration of the Asia-Pacific region.

We will work with all parties in APEC to accelerate the process of the Asia-Pacific Free Trade Area, and strive to build a comprehensive and high-level Asia-Pacific Free Trade Area that benefits the people and business communities of the region during the new vision period.

Third, China will continue to advocate inclusive trade and investment measures in APEC.

At the just-concluded APEC 27th Informal Leaders’ Meeting, President Xi Jinping pointed out the need to promote inclusive and sustainable growth.

The goals of the new vision to promote the development of the digital economy, focus on regional balance, sustainable and inclusive growth, etc., are highly compatible with our new development concept of innovation, coordination, greenness, openness and sharing.

China will work with APEC economies to jointly promote the development of the regional economy with a "people-centered" development, so that the achievements of regional economic and trade cooperation can be truly transformed into the improvement of people's living standards, and global economic growth will be promoted to build a community with a shared future for Asia and the world Make a contribution.