APEC Summit begins; key issues, FTA on agenda

November 11, 2014 10:21

The APEC Summit attended by 21 heads of states, including US President Barack Obama, began today with key issues like a free trade arrangement for the region to be discussed during the meeting.

Chinese President Xi Jinping is hosting the 22nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' meeting at the Yanqi Lake International Convention Center in northern suburb of Beijing.

The meeting is being attended by 21 heads of state including US President Barrack Obama, his Russian counterpart Vladamir Putin and Japanese Prime Minister Shinzo Abe.

This year marks the 25th anniversary of APEC, which has been the top-level and most representative cooperation mechanism that covers wide range of areas in the Asia-Pacific.

Xi said the meeting is expected to make four achievements, including the launch of the Free Trade Area of the Asia-Pacific (FTAAP) process, issue a statement on the 25th anniversary of the APEC, promotion of innovation, reforms and growth to seek new momentum for long-term development of the Asia-Pacific and a blueprint to lay a solid foundation for all-round connectivity in the Asia-Pacific.

Xi also said China will donate $10 million for institutional development and capacity building of the APEC.

India is not a member of APEC, a bloc largely comprised of the countries of the Pacific region.

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