APEC Leaders Back China-led Free Trade Zone

[Purveyor]

Source: Voice of America

Asia-Pacific leaders meeting at an economic summit in Beijing have given their initial approval to a China-led free trade zone.

The endorsement is seen as an achievement for Beijing, which has been pushing the Free Trade Area of the Asia-Pacific, or FTAAP, over a U.S.-led alternative.

Speaking Tuesday at the end of the Asia-Pacific Economic Summit, Chinese President Xi Jinping called the support "historic."

"We decided to launch the FTAAP process. It represents a historic step we've made toward the realization of the FTAAP and marks the official launch of the process. It represents the confidence and resolution of the APEC members to push forward regional economic integration," said Xi.

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