MOSCOW, Nov 17. The creation of free trade zones beneficial for the Asia-Pacific region, but the confidential nature of the negotiations to create a Transpacific partnership is unlikely to help sustainable development in the region, said the President of Russia Vladimir Putin.
“The creation of new zones of free trade generally promotes the formation of favorable conditions for the liberalization of trade and investment flows in the Asia Pacific region. However, the confidential nature of the negotiations to create the TRANS-Pacific partnership (CCI) is unlikely to help sustainable development in the Asia-Pacific region”, — stated in the article of the President to the APEC summit, to be held 18-19 November in Manila, the Philippines.
Putin noted that the strategic path lies not only in increasing the number of free trade zones, but also in the collaborative development and implementation of the best practices of liberalization in all the APEC members with regard to the positions and interests of each other.
“In this regard, should continue to enhance APEC’s role as coordinator of the various integration initiatives on the formation of the region in General, open and non-discriminatory market-free block barriers. Of particular importance in this is the effective implementation of the “Road map promoting the creation of an Asia-Pacific free trade zone”, endorsed in Beijing in 2014,” added the Russian President.