Edition: English | 中文简体 | 中文繁体 Монгол
Homepage > China Video

Sub-anchor: Xi wraps up tours to Ecuador, Peru and Chile


11-24-2016 12:13 BJT

Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

For a quick recap of President Xi's trip, joining us now is my colleague, Wang Tongxuan.

Three countries in six days - including a meeting of APEC leaders. President Xi had a busy - but productive trip.It was a three-nation tour that began in Ecuador where both sides agreed to work for stronger all-round cooperation. The two leaders signed 11 deals in areas such as finance, energy and infrastructure, and marked the completion of some China-funded relief projects after the earthquake which devastated the nation last April. They also activated Ecuador's largest hydroelectric power plant. It will generate a third of Ecuador's energy needs.

President Xi then flew south to the Peruvian capital, Lima for the APEC Leaders' Economic Meeting. He delivered a keynote speech at the opening of the forum, which focused on the Free Trade Area of the Asia-Pacific or FTAAP. The initiative has been a long-term goal for the organization..Whilst in Peru, Xi witnessed the signing of up to 18 agreements, in areas such as mining, energy and environmental protection.

Onto Chile then for the final leg, a dozen deals signed. The two countries agreed to begin negotiations to update their free-trade agreement, and upgraded their relationship to what's called a "comprehensive strategic partnership". Long story short, President Xi's visit is a display of Chinas' continued interest in developing connections with the region.

Q2: At the APEC summit, President Xi delivered a keynote speech and told fellow regional leaders it was time for strong partnerships. Tell us more about China's trade plan.

One key message from President Xi was that China will not shut its door to the outside world, but instead open it wider. Beijing backs two trade deals -- the Regional Comprehensive Economic Partnership (RCEP) and Free Trade Area of the Asia Pacific (FTAAP). Let's first take a look at RCEP. It involves the 10 member states of ASEAN -- the Association of Southeast Asian Nations -- plus their regional trading partners, which means the countries who signed FTAs with the bloc. The deal aims to cut tariff and non-tariff barriers while making trade easier for both consumers and companies. If the RCEP comes together, it could cover 46 percent of the global population and be worth 24 percent of global Gross Domestic Product.

Well the other trade deal FTAAP is about three times bigger and would be huge for both the region and the world. It is a long-term goal to link Pacific Rim economies from China to Chile, including the United States. Once formed, the FTAAP will be one of the largest FTAs in the world, covering 57 percent of the global economy. A survey by the Pacific Economic Cooperation Council said that the FTAAP would add an estimated 2.4 trillion US dollars to the global economy by 2025. President Xi described it as "a strategic initiative critical for the long-term prosperity of the Asia-Pacific."

Follow us on

  • Please scan the QR Code to follow us on Instagram

  • Please scan the QR Code to follow us on Wechat