Xi, Putin discuss free trade, China-Russia ties

Top Stories

»	Indian rupee gains ahead of RBI deadline to unwind positions
»	Crude oil prices jump up to 4 pc on Hormuz tensions, ceasefire doubts
»	RBI holds repo rate at 5.25 pc, maintains neutral instance amid global uncertainty
»	Sensex, Nifty slide 1 pc as Hormuz deadline by US rattles markets
»	Sensex, Nifty extend rally for 3rd day on hopes of US-Iran de-escalation

IANS | 21 Nov, 2016
Chinese President Xi Jinping has called for joint efforts by China and Russia to push forward the process of the Free Trade Area of the Asia-Pacific (FTAAP).

Xi on Saturday told his Russian counterpart Vladimir Putin that both sides should fully implement the consensus reached at the 2014 APEC Beijing meeting and other meetings in recent years, Xinhua news agency reported.

The FTAAP process was launched at the 2014 Beijing meeting and a roadmap was endorsed.

A collective strategic study on the FTAAP was conducted subsequently, as agreed by the APEC members, and the result should be reported to the economic leaders by the end of this year.

Xi and Putin are currently in Peru capital Lima to attend the annual Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting and related events.

Xi called for concerted efforts to advance the construction of the FTAAP, noting that it is a strategic choice concerning the long-term prosperity of the region.

Holding talks with Putin on the sidelines of the meeting, Xi underlined the need for China-Russia cooperation under the APEC framework in a bid to promote the bloc to contribute more to regional and global economic growth.

Echoing Xi's remarks, Putin said Russia and China should strengthen coordination and collaboration in APEC and other multilateral mechanisms.

As for China-Russia all-round strategic coordination, Xi said it has not only promoted both countries' development but also strengthened the force of world peace and justice.

China stands ready to work with Russia to continue high-level close contact, enhance mutual support and consolidate political and strategic mutual trust in the upcoming year, said Xi.

The Chinese President called on the two neighbouring nations to enhance synergy of their national development strategies, and further integrate the construction of the Belt and Road Initiative and the Eurasian Economic Union (EEU).