President Xi Jinping is warmly received upon his arrival by Thai Prime Minister Prayut Chan-o-cha at the Queen Sirikit National Convention Center in Bangkok, Thailand, Nov 18, 2022. (DING HAITAO / XINHUA)

BANGKOK/TOKYO – Chinese President Xi Jinping’s advocation for building an Asia-Pacific community with a shared future can help advance regional cooperation among member economies in the region for the benefits of all residents, experts say. 

“President Xi simply wanted to emphasize the intention of China wishing to see more expansion of sincere and tangible cooperation among APEC members,” said Korn Dabbaransi, former Thai deputy prime minister and chairman of the Thai-Chinese Friendship Association. 

Korn said the APEC region can be the model for better living standards for people in the other parts of the world. 

FULL TEXT: Xi's speech at 29th APEC Economic Leaders' Meeting

Economies of the region must join hands to build an Asia-Pacific community with a shared future and take Asia-Pacific cooperation to a new height, Xi said on Nov 18 at the 29th APEC Economic Leaders’ Meeting in Bangkok, Thailand.

Xi was speaking to regional leaders during the first session of the two-day meeting, which focused on balanced, inclusive and sustainable growth. The two-day meeting – with the theme “Open, Connect, Balance” and chaired by Thai Prime Minister Prayut Chan-o-cha – is the first in-person meeting for leaders of the region since 2018. 

Noting current challenges such as the prolonged pandemic, rising unilateralism and protectionism, and disruptions over global industrial and supply chains, Xi said the Asia-Pacific region, the powerhouse of global economic growth, has become more important and prominent in its standing and role as the world has come to another historical crossroads. He said the region should stay committed to openness and inclusiveness and bring about prosperity for all.  

We should bear in mind our shared future and make the Asia-Pacific a region where all are ready to help each other.

Xi Jinping, President, China

Xi said there is a need to continue pursuing open regionalism, strengthen coordination on macroeconomic policies, forge more closely linked regional industrial and supply chains, promote trade and investment liberalization and facilitation, and steadily advance regional economic integration for the early realization of a high-standard Free Trade Area of the Asia-Pacific.

Xi’s ideas on regional development are crucial in developing APEC’s backward economies and relatively backward areas, said Kim Heung-chong, president of the Korea Institute for International Economic Policy, a national policy research institute in Seoul. 

“More advanced countries including the Republic of Korea will join in accelerating regional development in the APEC region,” said Kim, noting that Xi’s promotion of openness and inclusiveness for Asia-Pacific economic cooperation can also contribute to strengthening the ROK’s policy initiatives.

Xi, in his speech, also said APEC member economies should uphold international fairness and justice, for peace and stability, and strive for green and low-carbon development and ensure a clean and beautiful Asia-Pacific. 

“We should bear in mind our shared future and make the Asia-Pacific a region where all are ready to help each other,” said Xi. 

Masanari Koike, former member of Japan's House of Representatives, noted peace and stability is like air we breathe, but people tend to forget its significance when we are in it. 

To maintain peace and prosperity in the Asia-Pacific region, the role of China and the United States is prominent, he said, so is the role of Japan, South Korea and ASEAN countries.

“It is the right attitude of all countries in the Asia-Pacific region to less fuel the flames or fan the flames, and do more to build bridges and promote understanding and reconciliation among major powers,” Koike said.

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Korn of Thailand said China has been a model for poverty eradication, and the Belt and Road Initiative will “reach out to the rest of the world with a belt of peace and road to prosperity”. 

Noting Thailand is a developing country with “a very extraordinary relationship” with China, Korn said joint programs between the two countries can be replicated and applied in other developing economies. 

Surasit Thanadtang, director of the Thai-Chinese Strategic Research Center under the National Research Council of Thailand, said Xi’s speech will contribute to regional economy integration and also to deeper cooperation and common prosperity as China wishes to create. 

Surasit said regional openness and inclusiveness can be boosted through the cooperation between China and Thailand, especially in areas such as railway and free trade.  

“China’s foreign policy is still very open and also looking forward to help the people around the world,” said Surasit, adding that the two countries can focus more on the Bio-Circular-Green, or BCG, economy model that Thailand introduced to APEC’s conversion to promote the transition to sustainable development.

During his speech, Xi said China will provide support for the implementation of the Bangkok Goals on BCG Economy.

China has played “a very big role” in supporting the host Thailand’s priorities since the start, said Cherdchai Chaivaivid, director-general of international economic affairs of Thailand’s Ministry of Foreign Affairs and Thailand's Senior Official for APEC.

“China has made a great contribution to the achievement of the Bangkok Goals on BCG Economy’s drafting process,” said Cherdchai at an informal media briefing session. “As part of and on behalf of my team, I believe that we couldn’t make it without the great contribution by China.” 

China's rapid economic development has brought about great changes to the world economy and brought far-reaching impact on neighboring countries and the world economy, Koike said. Under the context, China should constantly learn how to play a leading role so that it can become a country that is trusted and respected by other countries. 

Other countries should also adjust their mentality to adapt to this change, he added.

The 21 APEC economies account for about 58 percent of global GDP and nearly half of the world’s total trade. 

Contact the writers at kelly@chinadailyapac.com