At the opening of the 22nd APEC Economic Leaders' Meeting on Tuesday, Chinese President Xi Jinping urged APEC member economies to intensify regional economic integration and foster an open environment for long-term development.

In his opening remarks, Chinese President Xi Jinping outlined actions that need to be considered in order to advance APEC collaboration.

Priorities on the table include strengthening regional economic integration, promoting innovative development, advancing economic reform and growth, and improving comprehensive connectivity and infrastructure development.

Xi pointed out that while the Asia-Pacific region has entered a new stage of development, the world economic recovery still faces many unpredictable and destabilizing factors.

"While continuing to advance the Bogor Goals, we should vigorously promote the development of the FTAAP by identifying targets and laying out directions and roadmaps," Xi asserted. "This will help realize, at an early date, the vision of a highly open integrated system that spans across the Pacific Ocean."

Leaders will review a roadmap for the realization of the Free Trade Area of the Asia-Pacific and a strategic blueprint for promoting the development of global value chains. APEC member economies will also outline a new APEC Accord on Innovative Development, Economic Reform and Growth.

"We need to create innovative development approaches – pursue development through innovation and reform instead of driving it the usual way by relying on production and export," President Xi added.

In view of the strain on infrastructure caused by increased flows of people and goods throughout the Asia-Pacific region, he urged member economies to extend cooperation to "wherever roads, railways, air routes and the internet take us."

Noting that some developing economies in the Asia-Pacific region face multifaceted challenges, Xi said, "We need to increase financial and technical support to developing members, give full rein to the strength of diversity among Asia-Pacific economies to draw on each other's strengths and better leverage the amplifying effects to achieve shared development."

President Xi also announced that China will donate US$10 million to support APEC institutional capacity building and technical cooperation in a variety of fields.

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