Xi Jinping Urges Protection Of Multilateral Trading Systems In APEC

Archives - Chinese President Xi Jinping (ANTARA/HO-Ministry of Foreign Affairs China)

JAKARTA - Chinese President Xi Jinping called on member countries of the Asia-Pacific Economic Cooperation (APEC) to jointly maintain a multilateral trading system and encourage inclusive globalization.

Speaking at the APEC summit in the coastal city of Gyeongju, South Korea, President Xi said that currently major changes that have never occurred in the past century are accelerating around the world, while international situations are constantly changing and volatile.

"We must practice true multilateralism, as well as increase the authority and effectiveness of the multilateral trading system with WTO as a whole," Xi said, as quoted from a transcript published by the Chinese Ministry of Foreign Affairs.

Xi also outlined five proposals, including building an open regional economy, stabilizing supply chains, encouraging digital and green transformation in trade, and ensuring inclusive development.

The Chinese leader also reaffirmed Beijing's commitment to further open up its market, saying that China has become the country with the largest volume of goods trading in the world for five consecutive years.

China's door to the world will not be closed; that door will only be wider," Xi said.

Ia menambahkan Beijing selalu melaksanakan keterbukaan sebagai kebijakan dasar negara dan telah mengambil langkah nyata untuk mendorong ekonomi dunia yang terbuka.

In total, China has withdrawn foreign investment of more than $700 billion, while its overseas investment has increased by more than five percent on average per year, he said.

President Xi arrived in South Korea on Thursday for a three-day visit to attend the APEC summit, which was also his first visit to the country in 11 years.