Everyone wins from improved connectivity, official says

Connectivity initiatives led by China in the APEC framework are making important progress, according to a senior APEC official.

Chinese companies are going to gain a greater voice in the regional markets and cooperation through such improved links, the official said.

Ning Gaoning, co-chair of APEC 2015, made the remarks on Tuesday during a series of meetings for CEOs from the region.

"A very important objective for APEC is to make trade easier for everyone through advancing facilitation. Now we are talking about connectivity, this is a step forward based on trade facilitation," said Ning, who is also the chairman of COFCO Corp, China's largest food importer and manufacturer.

According to Ning, the topics at this year's APEC meeting are a continuation of last year's in China, and the focus of discussion remains working toward the Free Trade Area of the Asia-Pacific. This is an important element of a report that is going to be submitted to leaders from member economies on Wednesday.

Besides work on the proposed free-trade area, the report also deals with issues such as connectivity, infrastructure financing, SMEs, innovation and the digital economy, which APEC has been working on for several years.

"Since the Beijing meeting last year, progress has been made on these topics. Last year, we signed some cooperation agreements. And this year, we have been following these up. And at next year's meeting in Lima, the capital of Peru, these issues will feature prominently on the agenda," Ning said.

Regarding the issue of connectivity, Ning said it has two aspects. One is about the free flow of logistics, personnel, information and capital, and the other is about physical connectivity, such as building roads and ports.

"To make trade and logistics easier for business is an important item on the APEC agenda. As a company in the region, COFCO benefits a lot from the initiatives. It's fair to say that without connectivity, there would be fewer business opportunities for us," he added.

Ning said connectivity has become part of China's national strategy, and the nation's economic growth has presented enormous business opportunities for the region.

"I believe that with the help of the connectivities initiative and the progress of the Free Trade Area of the Asia-Pacific, the Asia-Pacific region will become the most dynamic and vibrant in the world," Ning added.

Contact the writers at zhaoyanrong@chinadaily.com.cn