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Since the establishment of the Asia Pacific Economic Cooperation Organization (APEC) 25 years ago, it has gradually become an important economic cooperation organization in the Asia-Pacific region. It has played an irreplaceable role in promoting regional trade and investment liberalization and strengthening economic and technological cooperation among member companies. Take Weichai as an example. In recent years, APEC has become our main trade zone, and the trade volume accounts for 50-55% of our general trade volume. With the joint efforts of member countries, we have enjoyed a lot of conveniences such as a sharp reduction in tariffs, visa exemption for some countries, and reduction of trade barriers in the APEC region. Generally speaking, companies benefited greatly.
The theme of this year's APEC meeting is "To jointly build a future-oriented Asia-Pacific partnership." I personally mainly care about two topics. The first is to promote regional economic integration, especially the process of the Asia-Pacific free trade area. The second is to strengthen all-round infrastructure construction and interconnection.
The construction of the Asia-Pacific Free Trade Area will further integrate various multilateral free trade arrangements in the Asia Pacific region, bringing us more trade facilities, reducing various types of tariffs, achieving faster customs clearance and increasing trade volume. The free trade zone will also provide more convenient investment policies, better investment environment and greater security for the localized deep processing trade, making the trade more convenient.
The construction of infrastructure and interconnection, especially the Asian infrastructure investment bank that has just signed a memorandum of understanding, will play an important role in influencing the construction of interconnection and interoperability in the APEC region. The construction of high-speed rail projects will significantly shorten the trade distance between the Asia-Pacific region and neighboring countries, improve the convenience of logistics and reduce logistics costs. Take Russia as an example. Although we are a neighboring country, we currently have problems with long-term transportation and high costs. The logistics cost accounts for about 5%, which is higher than those in Europe, America, Latin America and other countries. This cost will be greatly reduced. At the same time, the visa policy is relaxed, visa-free in the region, and personnel exchanges will be more frequent and convenient.
On the whole, there are fewer obstacles to trade barriers, investment barriers, and technical cooperation between APEC members and us. It is hoped that through this APEC meeting, there will be new breakthroughs in the construction of free economic and trade zones, further reducing tariffs and customs clearance costs for trade, and improving the convenience of customs clearance. At the same time, in the construction of interconnection and intercommunication, while paying attention to hardware facilities, it also pays attention to the construction of software facilities such as the Internet and communications to improve the convenience of communication. For example, at present, telephone conferences and video conferences between our countries and Southeast Asian countries are still very difficult, and there are often problems with disconnection. Trade negotiations are usually resolved through business trips and the cost is relatively high.
Recently, the United States is also actively promoting APEC-related TPP (Trans-Pacific Strategic Economic Partnership Agreement). If the agreement is passed, China's trade will be greatly affected. It is hoped that the APEC meeting will be able to reach a compromise with the United States, focus on the long-term interests of both parties, and more solidly reach more consensus on the consensus of China and the Asia-Pacific countries.
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