Xi said the 21-member forum had agreed that economic integration was the "driving force" behind sustained strong growth and Apec "should continue to play a leading and coordinating role in pushing forward this process".
East Asians need to tell the world clearly what they think they are doing, and how they believe it fits in with the global and mega-regional (APEC) systems.
According to Rod Donald, the co-leader of the Green Party, the country is "playing the APEC strip poker game in its underwear".Indeed, as APEC falters, Mahathir's original vision seems to be resurfacing after all, according to Fred Bergsten of the Institute for International Economics IIEE).
The Asia-Pacific Economic Co-operation (APEC) forum, to which Taiwan also belongs, has failed to implement a planned APEC-wide free-trade zone.
"It is fitting that we are here with our Apec colleagues to share the news that the United States and China have reached an understanding that we hope will contribute to a rapid conclusion of the broader negotiations in Geneva".
Apec had approved work towards the establishment of FTAAP, which Xi said was a "historic step".
But the FTAAP plan, which will be presented to Apec leaders for approval at a future date, is more comprehensive and is seen not only as a route to faster growth, but also as a way to divert attention from the 12-nation Trans-Pacific Partnership (TPP) trade agreement backed by the US.
The Australian prime minister and the Russian president discussed the Malaysia Airlines tragedy during a 15-minute meeting on the sidelines of the Asia Pacific Economic Cooperation (Apec) summit on Tuesday.
Apec member states, which include the US, China, Japan, South Korea, Indonesia and Canada, account for 40% of the world's population, 54% of its economic output and 44% of trade.
China has urged Apec member states to speed up free trade talks to spur growth, in a move widely seen as bolstering output in the world's most populous country and acting as a bulwark against US foreign policy in the region.
The 21 economies of the largest trans-Pacific grouping, Asia-Pacific Economic Co-operation (APEC), account for nearly half of global trade.
