China to Further Promote the Asia Pacific Free Trade Zone during APEC Meet
China is focusing on promoting a free trade zone across the Pacific during the APEC Meeting that starts today and will last until November 11 in Beijing. The country hopes that they will be making effective use of the APEC Meetings and its role in the coordination and leading of the unification of the region to finally complete the drafted road map that involves the Free Trade Area in the Asia Pacific.
The Free Trade Area in the Asia Pacific or FTAAP is the country’s priority during the meeting by using a competing pact which is known as the Trans-Pacific Partnership or TPP which will also be discussed on the meetings which is backed by the U.S. and negotiated among 12 nations. Furthermore there is no conflict between the TPP and FTAAP after adding that China managed to gain support among the APEC members.
China has always been very supportive in expanding an existing pace namely the Information Technology Agreement that was refuted with criticism by the U.S. by stating that China was resisting to the new round of negotiations on the expansion. But as of last year talks were held at the WTO that was aimed in eliminating tariffs on several high tech products.