It is "not the right choice" to make exclusive regional trade arrangements as the Asia-Pacific region is facing the common challenge of protectionism amid slowing trade growth, President Xi Jinping said over the weekend in Lima, Peru.

 

Xi spoke in a keynote address at the Asia-Pacific Economic Cooperation CEO Summit on Saturday.

 

Xi told the gathering that boosting interconnectivity was important to releasing development potential, which is also the goal of the China-proposed Belt and Road Initiative. The Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives, put forward by Xi in 2013, aim to revive ancient trade routes, with an emphasis on infrastructure.

 

More than 100 countries and global organizations are participating in and supporting the initiative, with a number of major infrastructure projects already underway, Xi added.

 

China's import volume will reach $8 trillion in the next five years and its number of outbound tourists will reach 700 million in the same period, Xi forecast, adding that China's development was an opportunity for the world.

 

Establishing the Free Trade Area of the Asia-Pacific is a strategic measure that will bolster the long-term prosperity of the region and should be pushed forward with firm determination, Xi said.