Xinhua News Agency, Port Moresby, November 15th (Reporter Felena Hao Yalin Wang Lili) The 26th Informal Leadership Meeting of the Asia-Pacific Economic Cooperation (APEC) is scheduled to be held in Papua New South Pacific Island from 17th to 18th. Held in Port Moresby, the capital of Guinea, the theme of the conference was “Capturing Inclusive Opportunities and Embracing the Digital Future”.

Analysts believe that the meeting was held in the context of unilateralism, protectionism, and anti-globalization trends, with special significance. The main agenda of how to further deepen regional economic integration, how to benefit the people in underdeveloped regions from the digital economy, and how to promote inclusive growth through structural reforms is worthy of attention.

Aspect 1: Promoting the construction of the Asia-Pacific Free Trade Area

The vision for building the Asia-Pacific Free Trade Zone was presented at the APEC Hanoi Conference in 2006. The 2014 APEC Beijing Conference reached a consensus on the APEC Promoting the Asia-Pacific Free Trade Zone Beijing Roadmap. The 2016 APEC Lima Conference approved the “Asia-Pacific Free Trade Zone Collective Strategy Research Report” and related policy recommendations, marking an important step in the Asia-Pacific Free Trade Area process initiated by the APEC Beijing Conference.

The 22nd APEC Economic Leaders' Meeting was held in Beijing. Beijing held a fireworks display at the Olympic Park (photo taken on November 10, 2014). (Photo by Xinhua News Agency reporter Luo Xiaoguang

Robert Lowe, chairman of the APEC Economic Committee, expressed the hope that the economies of the Asia-Pacific region will break through the bottleneck as soon as possible and promote the construction of the Asia-Pacific Free Trade Area, making APEC a high-quality multilateral regional trading system.

The tendency of trade protectionism and the uncertainty of future economic development are the main obstacles to the current process of economic integration in Asia and the Pacific.

"Trade protectionism will undermine the Asia-Pacific multilateral trading system, competitiveness and development prospects. These things are closely related, because in the global value chain, business activities can rely on imports and exports to complete. Trade protection is to kill chickens and eggs," said Logi.

Alan Bollard, Executive Director of the APEC Secretariat, believes that the economic and trade frictions of the past year have led to deeper thinking and understanding of regional economic integration. I hope that all parties will fully discuss how to establish a multilateral trading system at this APEC meeting. And the Asia Pacific Free Trade Zone.

Aspect 2: Sharing the Digital Economy Dividend

For the conference to include "embrace the digital future", Logi said that this is the first time that APEC conference organizers put the digital economy at the top of the list.

At present, APEC members face many challenges such as income gap and digital divide expansion, and need to work together to solve them. Promoting growth through reform and innovation and making full use of the new kinetic energy provided by the digital economy have gradually become the consensus of the economies in the region.

Stan Joyce, chairman of the Small and Medium Enterprise Working Group of the APEC Business Advisory Council, believes that digital innovation and e-platform development means new opportunities for APEC economies, and digital infrastructure is the key to developing the digital economy.

“In many APEC economies, digital infrastructure is concentrated only in cities. We need to extend this service to everyone in every economy.”

According to relevant research reports, in the e-commerce and digital wave, digital technology will enable the majority of small and medium-sized enterprises in the Asia-Pacific region to have more opportunities to obtain funds and markets, and is expected to create more than 50 million jobs in the region.

Ivan Pomalu, Chairman of the APEC Conference Senior Officials Meeting, said that at the meeting, all parties will focus on helping enterprises and workers in the Asia-Pacific region in the information revolution in the context of information technology driving trade and economic growth in the region. Growing up in the middle.

This is the Papua New International Convention Center on November 9th in Port Moresby, Papua New Guinea. (Photo by Xinhua News Agency reporter Lu Xiaoyu)

Aspect 3: Promoting inclusive and sustainable growth

The agenda of the meeting also included promoting inclusive and sustainable growth, and the key to addressing this core issue was structural reform within the APEC framework.

According to Logi, structural reforms mean increasing competitiveness, making business activities easier, making markets more efficient, and ensuring that people get the services they need.

“Structural reforms can support trade and investment, including digital trade growth, and benefit everyone from the digital economy.”

A recent report released by APEC states that structural reforms include at least three aspects: developing more open, transparent and competitive markets, improving business practices, eliminating various commercial barriers, and deepening the participation of all sectors of society. The broadest group of people enjoy basic business services and infrastructure, fully participate in market competition, enjoy the convenience of the digital age, and develop more comprehensive and sustainable social policies.