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China will actively consider joining Pacific Trade Pact, says President Xi




What’s up: China will actively consider joining the Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP), a regional free trade pact, Chinese President Xi Jinping said on Friday.

Xi made the comment in a speech (link in Chinese) at a meeting of 21 Asia-Pacific Economic Cooperation (APEC) countries hosted virtually by Malaysia.

China welcomes the completion of the signing of the (Regional Comprehensive Economic Partnership) and will actively consider joining the CPTPP, Xi said as quoted by state-run Xinhua News Agency.

What is the context: The presidents’ signal to eventually join the 11-country trade pact came less than a week after China and 14 other Asia-Pacific economies sign the Regional Comprehensive Economic Partnership (RCEP) in Hanoi to form the largest free trade bloc in the world.

China’s Ministry of Commerce also said on Thursday that the country was open to joining the CPTPP.

During the virtual meeting, in the presence of Xi and US President Donald Trump, leaders discussed the coronavirus pandemic and the global economic recovery, calling for more open and multilateral trade.

Quick Takes are condensed versions of stories related to China for quick news that you can use.

Related: News Analysis: China-Led Regional Trade Pact To Optimize Asia-Pacific Supply Chain

Contact reporter Han Wei ([email protected]) and editor Bob Simison ([email protected]).

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