Countries in the Asia-Pacific region decided to join their efforts in the development and further introduction of free trade area on the basis of the scheme suggested by China's authorities. During the APEC summit that was recently hold in Beijing, the leaders of the economic cooperation duly appreciated the China's roadmap for Asia-Pacific free trade area. “We reaffirm our commitment to the eventual FTAAP (the Free Trade Area of the Asia-Pacific) as a major instrument to further APEC's regional economic integration agenda. We decide to <...> endorse the Beijing Roadmap for APEC’s Contribution to the Realization of the FTAAP. Through the implementation of this Roadmap, we decide to accelerate our efforts on realizing the FTAAP,” 2014 Leaders' Declaration reads. It is noteworthy that the USA suggested the creation of an alternative – the Trans-Pacific Partnership (TPP), however, not everyone welcomed the idea.“Obviously, the Trans-Pacific Partnership is just another US attempt to build an architecture of regional economic cooperation that the US would benefit from“, Russian President Vladimir Putin stated. In response to it, US president Barack Obama said that he did not see any contradiction between the creation of the new agreement and the TPP and that Russia along with China did not even suit the layout of the free trade zone. According to experts, the countries participating in the negotiations of TTP creation make up about 40% of global GDP and 25% of world trade turnover.
