CRI听力:Free trade, economic integration still remain major goals for APEC and G20

China has been actively promoting the establishment of the Free Trade Area of the Asia-Pacific.

However, some are suggesting the F-TAAP is China's way of off-setting the US-initiated Trans-Pacific Partnership agreement, to which China is not a member.

Robert Milliner, a senior business advisor for the Australian government, says the F-TAAP proposal still holds significant interest for APEC countries, even those who are signatories to the TPP.

He suggests once the US election is over in November, the F-TAAP is likely to be a major focus.

"Once we get through the cycle, what I like to hope is that people will concentrate on the really fundamental issues here, which is that free trade in the Asia Pacific region has been realized for many years as benefiting all of the economies in the Asia Pacific region. Regional integration is perceived of being all benefit for many economies in the Asia Pacific region. And we must keep those goals in mind as we walk through what are some difficult periods in global economies."

Milliner says he believes the forthcoming G20 Leaders Summit in Hangzhou will be critical to getting the world's major economies onboard with a plan to increase global GDP by 2 percent by 2018.

"That's a very important commitment. Quite often people criticize it, and say that in the current economy, two percent is too much and won't be reached. On the other hand, it's very important to recognize that, by having an aspirational target, governments are more likely to make the steps that are necessary to drive forward economic growth."

Milliner also says the business advisory group is also bring forth a number of important recommendations connected to SMEs, digital trade, innovation and entrepreneurship to the G20 session in Hangzhou.

"Those areas are areas that China plays a very important role in. It's very much the new trade investment cycle, and AEPC itself has also picked up some of these concepts particularly on the digital economy."

The APEC Business Advisory Council meeting in Shenzhen is wrapping up this Thursday.

For CRI, I'm Niu Honglin.