Focus on Arts and Ecology

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Foreign leaders urge APEC members to advocate multilateral trade

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November 20, 2020

Foreign leaders joined the 2020 Asia-Pacific Economic Cooperation (APEC) CEO Dialogues 2020 on Thursday, laying out their commitment to promoting the group's core goal of free and open trade and investment in the wake of the COVID-19 pandemic.

Economic activity in the Asia and Pacific is expected to contract by 2.3 percent in 2020, and to grow by 6.7 percent in 2021, compared to a contraction of 5.8 percent in 2020 and a growth of 3.9 percent in 2021 for advanced economies, according to the International Monetary Fund (IMF).

China, whose economy saw positive overall growth in the first three quarters this year, shared its vision for continuing to foster domestic economic recovery and mutual beneficial cooperation with Asia-Pacific economies, as Chinese President Xi Jinping delivered a keynote speech at the Asia-Pacific Economic Cooperation (APEC) CEO Dialogues on Thursday via a video link in Beijing.

APEC, Asia-Pacific's premier economic forum, was established in 1989 to leverage the region's growing interdependence and boost regional prosperity through initiatives promoting free and open trade among member economies.

(Sources: The China Report)

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