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Video: Official banquet held for leaders at the APEC Meeting in Manila

CCTV.com

11-18-2015 20:26 BJT

Full coverage: President Xi Attends G20, APEC Summits

An official banquet is being held for leaders at the APEC Meeting in Manila. Chinese President Xi Jinping is attending the events.

This year's meeting is themed "Building Inclusive Economies, Building a Better World," and it focuses on specific subjects such as regional economic integration, small and medium-sized enterprises, human capital development and sustainable growth.

As the top-level and most representative cooperation mechanism covering a wide area of the Asia-Pacific, the 21-member APEC has played an important role in advancing trade liberalization and facilitation, promoting economic integration and boosting connectivity. The Asia-Pacific region, which is vital to global peace and development, accounts for 40 percent of world population, 48 percent of world trade, and 57 percent of global output.

BACKGROUND

APEC's members will seek to expand information sharing and technical capacity building between them, and work towards eventually establishing an APEC-wide Free Trade Area, or FTAAP. 

During this meeting, they will review the progress of a two-year collective strategic study on issues related to the FTAAP, which was initiated by APEC Leaders in Beijing last November. The review will also provide guidance on work underway by all 21 APEC members to complete the study, which is due when the region’s Leaders and Ministers reconvene at the end of 2016 in Lima. Leaders will also hold an informal dialogue on the sidelines of the APEC meetings in Manila on the Pacific Alliance and APEC, including participation from Columbia.

Under the theme, "Building Inclusive Economies, Building a Better World", Leaders, Ministers and Senior Officials from APEC’s 21 member economies, will take new joint actions to boost trade and growth in the Pacific Rim while ensuring that the benefits are widely felt.

Priority areas of focus include enhancing regional economic integration; fostering micro, small and medium enterprise participation in regional and global markets; investing in human capital development; and building sustainable and resilient communities.

Before Xi Jinping's arrival in Manila, Chinese foreign minister Wang Yi said his presence at the meeting shows China's support to the host country, and that China attaches great importance to APEC process.

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