Michelle Bachelet, President of Chile, said Chile strongly supports the launch of the roadmap to realize the Free Trade Area of the Asia Pacific (FTAAP) during a dialogue at the 2014 APEC CEO Summit on November 9.

"We're certain that we'll build upon the many regional treaties already in place or under negotiation, such as the Pacific Alliance, the RCEP (Regional Comprehensive Economic Partnership) and the TPP (Trans-Pacific Partnership)," said Bachelet.

"The various regional integration projects in the Pacific region are no part of a zero-sum game," she added. "On the contrary, they complement each other and reflect the variable geometry of a complex and diverse but ultimately highly dynamic and creative region, one that is setting the course and giving shape to the new century."

Bachelet made the speech at the Summit Dialogue on Asia Pacific Economic Integration and Global Multilateral Trade System.

During her speech, Bachelet also mentioned the free trade agreements Chile signed with South Korea and China in 2003 and 2005, respectively, putting Chile in the position to become the bridge to link South America and Asia.

Chile is the first Latin American country that supported China's entry into the World Trade Organization, recognized China's full market economy status and inked a free trade agreement with China.

China is now Chile's largest trade partner. Chile is China's third largest trade partner in Latin America.

The 2014 APEC CEO Summit, which opened in Beijing on November 9, is the most important business event during APEC Leaders' Week. The CEO summit gathers more than 1500 politicians and business leaders from the Asia-Pacific region to exchange views on the theme New Vision for Asia Pacific: Creativity, Connectivity, Integration, Prosperity.