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APEC adopts 2040 vision, extends RCEP success in multilateralism supported by China

2020-11-21 09:30:08       source:Global Times

November 21, 2020

In a week that saw multilateralism triumph in the world, after the signing of the world's largest trade pact accounting for about one-third of world’s population and global trade, the Asia-Pacific Economic Cooperation (APEC) yielded fruitful results by launching a vision for the next two decades, underlining the irreversible trend of multilateral cooperation, of which China has been one of the most important driving forces.

On Friday, a substantial outcome came out of the APEC with the announcement of the APEC Putrajaya Vision 2040, fostering the vision for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, according to the 2020 Kuala Lumpur Declaration.

During a virtual meeting on Friday at the 27th APEC Economic Leaders' Meeting, Chinese President Xi Jinping reaffirmed China’s commitment to multilateralism and building an open world economy, and said China will “favorably consider” joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

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