Sunday, April 28, 2024

President Xi Jinping outlines China’s cooperation principles in APEC seeking partnerships rather than displacing other nations

Reading Time: 2 minutes
Journalist IBP

Journalist

Mahinda Arkyasa

Editor

Interview

President Xi Jinping has emphasized China’s commitment to improving the lives of its people and clarified its collaborative approach with other nations, entities such as APEC, and including superpowers like the United States, during a meeting at the Asia-Pacific Economic Cooperation (APEC) forum.

APEC, established in 1989, is a cooperative forum comprising 21 economies around the Pacific Rim. Members include Indonesia, Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong-China, Japan, South Korea, Malaysia, Mexico, New Zealand, the Philippines, Peru, Papua New Guinea, Russia, Singapore, Taiwan, Thailand, the United States, and Vietnam.

China’s President Xi Jinping outlined four cooperation principles for APEC-China collaboration, emphasizing a non-political, economic-focused partnership. He stated that China’s development goal is to enhance the well-being of its people rather than seeking to displace any other nation.

The key objectives of APEC are detailed in the APEC Putrajaya Vision 2040, agreed upon in 2020, replacing the Bogor Goals established in 1994. Xi Jinping reiterated China’s pursuit of modernization to build a great nation and revitalize the country across all aspects.

Following a four-hour meeting with U.S. President Joe Biden on November 15, 2023, where Biden referred to Xi as a dictator, Xi Jinping, on November 18, 2023, stressed China’s commitment to progress despite obstacles and invited APEC members to uphold the organization’s initial mission.

“I am ready to work with you to achieve new successes in the Asia-Pacific and look forward to the next ’30 golden years’ in the region,” said President Xi.

Xi Jinping proposed four principles for APEC cooperation:

  • Commitment to innovation-driven development, following trends in science and technology, promoting proactive exchanges and cooperation, and nondiscriminatory support for technological advances;
  • Commitment to openness in development, advocating for barrier-free free trade, investment, and supporting and strengthening a multilateral trade regime centered on the WTO, while maintaining an open and stable global supply chain;
  • Commitment to green development, accelerating the transition to low-carbon and environmentally friendly development, ensuring that carbon emission reduction and pollution mitigation progress in tandem;
  • Commitment to inclusive development that benefits all, fully implementing the UN 2030 Sustainable Development Agenda, and prioritizing development on the international agenda.

President Xi emphasized the need to respond to the demands of the times and face global challenges together, striving for an open, dynamic, resilient, and peaceful Asia-Pacific community for the well-being of all current and future generations.

Journalist IBP

Journalist

Mahinda Arkyasa

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

Fishermen, local communities, indigenous groups and environmental activists around the world are lashing out at Japan and its export credit agency, the Japan Bank for International Cooperation (JBIC).
A number of parties have started to anticipate the impact of the conflict between Israel and Iran on investor interest in startups as the conflict can affect the macro economy, particularly in the Middle East.
China’s conditions for a meeting between U.S. President Joe Biden and Chinese President Xi Jinping, as outlined by China’s Ministry of State Security (MSS). The conditions set by the MSS include the United States showing sincerity for such a meeting to take place. 
China’s Global Security Initiative (GSI) is intensifying its campaign for an alternative to the US-led international order, connecting it to its peace plan for Ukraine and rapprochement between Iran and Saudi Arabia.
Sri Mulyani, Minister of Finance of Indonesia together with ASEAN +3 countries, renewed the Chiang Mai Initiative Multilateralism (CMIM). The guidelines will provide liquidity support with local currency for countries experiencing balance of payments difficulties.
Indonesian Minister of Finance of Indonesia Sri Mulyani take part in the 26th ASEAN +3 Finance Ministers and Central Bank Governors (AFMGM+3) At the event, Sri met with ADB President and gained assurance that the ADB will support sustainable and inclusive recovery for developing country members by expanding its lending capacity.