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China Reaffirms Commitment to Asia-Pacific Community at APEC
The Asia-Pacific Economic Cooperation (APEC) remains a critical platform for economic growth, representing 62% of global GDP. As the 2024 APEC meeting approaches in Peru, China's President Xi Jinping will attend, highlighting China's engagement in regional cooperation. In 2022, China's trade with APEC members reached $3.74 trillion, 59.7% of its total trade.
Among China's major trading partners, eight are APEC economies. China leads in trade partnerships with 13 APEC countries and has 15 free trade agreements within APEC. The Belt and Road Initiative furthers this cooperation, notably with the upcoming inauguration of Chancay Port in Peru, poised to boost regional trade.
President Xi's visit to Peru aims to enhance China-Peru relations and strengthen economic ties. At APEC, Xi will discuss China's commitment to the Putrajaya Vision 2040, advocating for comprehensive regional cooperation.
R. E.
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