APEC ministers adopt FTAAP Beijing Roadmap
Updated: 2014-11-08 16:21
BEIJING - Ministers of the Asia-Pacific Economic Cooperation (APEC) members on Saturday reached consensus on the Beijing Roadmap for APEC to push forward the Free Trade Area of the Asia-Pacific (FTAAP) process.
The APEC Ministerial Meeting agreed to "launch and comprehensively and systemically push forward the FTAAP process," China's Commerce Minister Gao Hucheng said at a press conference.
The meeting also agreed to try to formulate the post-Bali work program and take substantial actions for strengthening regional integration and advancing the FTAAP building, Gao added.
When established, the FTAAP would be one of the largest FTA in the world, covering about half of global economy and trade.
A comprehensive and strategic study on FTAAP, an idea first proposed in 2004, would also be launched to create favorable conditions and lay solid foundations for establishing the FTA, Gao said.