Moscow(VNA) – Russia supports the formation of a Free Trade Area of the Asia-Pacific (FTAAP),President Vladimir Putin affirmed in an article posted on the Kremlin’s websiteon November 8 on the threshold of the APEC Economic Leaders’ Meeting inVietnam’s Da Nang city.

Russia believesthat the FTAAP’s establishment represents an opportunity for the country tostrengthen its position in rapidly growing markets in Asia-Pacific, Putinwrote.

He noted that overthe past five years, the share of APEC economies in Russia’s foreign trade hasincreased from 23 to 31 percent, and from 17 to 24 percent in exports.

According to him,the project to create the FTAAP should be “carried out with due account of the experiencegained from implementing key integration formats in the Asia-Pacificregion and Eurasia, including the Eurasian Economic Union,in which Russia cooperates with Armenia, Belarus, Kazakhstanand Kyrgyzstan”.

This union has been developing dynamically, he affirmed,adding that it is eager to build relations with all countries and associations.

Vietnam, the host of this year’s forum, was the first stateto sign a free trade agreement with the Eurasian Economic Union.

With the title “The 25th APEC Economic Leaders'Meeting in Da Nang: Together Towards Prosperity and Harmonious Development”,the Russian leader’s article also stressed the importance of effectivecooperation to support innovation.

Putin suggested starting consultations within APEC oninternational information security and protection of computer software.

Established in1989, the Asia-Pacific Economic Cooperation (APEC) forum comprises 21economies, including Australia, Brunei, Canada, Chile, China, Hong Kong-China,Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, PapuaNew Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand,the US, and Vietnam.

The APEC 2017 Economic Leaders’ Meeting, which runs in Da Nang city from November10-11, is the most important external event of Vietnam this year, with theparticipation of leaders from the 21 member economies.-VNA