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Wednesday, November 18, 2015, 21:36

Asia-Pacific development should go on: Xi

By Xinhua

Asia-Pacific development should go on: Xi
In this photo provided by China's Xinhua News Agency, Chinese President Xi Jinping addresses the audience at the Asia-Pacific Economic Cooperation (APEC) CEO summit in Manila, the Philippines, Nov 18, 2015. (Li Xueren / Xinhua v ia AP)

MANILA - Chinese President Xi Jinping said Wednesday that Asia-Pacific economies should never allow anything to disrupt the region's development.

Addressing an Asia-Pacific Economic Cooperation (APEC) CEO summit, Xi urged APEC members to spare no efforts to foster a peaceful environment conducive to development.

Asia-Pacific nations, Xi added, should respect each other's development paths chosen in line with their respective conditions and resolve differences through dialogue and consultation.

He also expressed his confidence that the vast Pacific Ocean will become a bridge of cooperation, a bond of friendship and a common home for people across the Asia-Pacific region.

Xi urged stakeholders to speed up talks to lay ground for the Free Trade Area of the Asia-Pacific (FTAAP) and promote regional economic integration.

He also noted that the constant emergence of new regional free trade deals has given rise to worries about fragmentation.

Xi suggested that the openness and inclusiveness of free trade arrangements be strengthened to the greatest extent on the basis of equal participation and ample consultation.

The Asia-Pacific region has adhered to opening-up, integration and development for many years, and has come out with a unique and vibrant way for regional economic cooperation, he noted.

Recalling that APEC leaders made a historic step in 2014 in Beijing by launching the FTAAP process, he called for concerted efforts to boost the openness of the Asia-Pacific economy and safeguard multilateral trade systems.

"We need to devote ourselves to win-win cooperation, resist protectionism and facilitate fair competition," the president said.

Meanwhile, Xi noted that monetary stimulus policies alone are not enough to address the deep-seated problems in the world economy.

He suggested that greater efforts be made to advance economic structural reforms so that the supply system will be better adapted to the changing structure of demand.

The Chinese leader arrived in Manila on Tuesday noon to attend the 23rd APEC Economic Leaders' Meeting scheduled for Wednesday and Thursday.

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