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Greater economic integration expected at APEC meeting

Staff writer |
The upcoming Asia-Pacific Economic Cooperation (APEC) meeting in Beijing is expected to produce tangible outcomes and achieve greater regional economic integration, says a US expert on Asia affairs.

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With the theme of "Shaping the Future through Asia-Pacific Partnership," China has laid out several areas to focus on during this year's APEC gathering, including trade and investment integration, innovation, inclusive growth and connectivity.

"These efforts would help promote economic and interconnected development in the region," Matthew Goodman, who holds the William E. Simon Chair in Political Economy at the Center for Strategic and International Studies, a think tank in Washington, told Xinhua in a recent interview.

In terms of infrastructure development, Goodman said China's proposal of establishing the Asian Infrastructure Investment Bank is "very understandable," as there are large infrastructure needs in the region and China has great capacity to potentially help bridge the financing gap in the area.

Reviewing APEC's development, Goodman said the forum has been a useful "incubator" to create good ideas on trade and integration, and it has also been a useful part of the architecture in the Asia-Pacific region.

APEC should continue to bring diverse economies together to deepen economic integration in the region, and it is useful for the forum to have "a long-term vision like the Free Trade Area of the Asia-Pacific (FTAAP)," he said.

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