BEIJING - A Chinese official has warned of the rise of protectionism and said the region needs a free trade agreement as soon as possible.
Trade and investment protectionism is rearing its head, and Asia-Pacific faces insufficient momentum for internal growth
Li Baodong, China's Vice Foreign Minister
"Trade and investment protectionism is rearing its head, and Asia-Pacific faces insufficient momentum for internal growth, and difficulties in advancing reforms,” said China's Vice Foreign Minister Li Baodong.
Li’s Thursday briefing came ahead of President Xi Jinping's departure for the Asia-Pacific Economic Cooperation (APEC) summit in Peru from Nov 19-20.
"China believes we should set a new and very practical working plan, to positively respond to the expectations of industry, and sustain momentum and establish a free trade area in Asia-Pacific at an early date," Li said.
Aside from Peru, Xi will also make state visits to Chile and Ecuador during a week-long trip to Latin America.
Li added China will seek support for a Beijing-led Asia-Pacific free trade area at the Peru summit.
China has proposed the Free Trade Area of the Asia Pacific (FTAAP) and the Regional Comprehensive Economic Partnership (RCEP).
Li said Xi's attendance showed China's "confidence in promoting the FTAAP process".
"China is always positively advancing work on its own regional free-trade strategy. We, indeed, are continuously and positively advancing RCEP negotiations," China's deputy international trade representative Zhang Xiangchen told the briefing.
RCEP groups the 10 members of the Association of South East Asian Nations plus China, Japan, South Korea, India, Australia and New Zealand.
