APEC economic cooperation for regional sustainable development

PANO – President Tran Dai Quang is leading a high-level delegation of Vietnam to attending the 24th High-level week of the Asia-Pacific Economic Cooperation (APEC) forum held in Lima city of Peru from November 17-20 at the invitation of Peru President Pedro Pablo Kuczynski.

The 24th APEC High-level week is held in the context that there have been sophisticated developments in the political and security situations of the world as well as in the Asia-Pacific region. The APEC forum is speeding up the efforts to realize the Bogor goals on trade liberalization and investment by 2020 and cooperation directions passed in the 2014-2015 period while reaching for the establishment of the Free Trade Area of the Asia-Pacific (FTAAP).

As part of the high-level week, the 24th APEC Summit is themed “Quality Growth and Human Capital Development: Foundation for Sustainable Growth in the Asia Pacific”. APEC members have agreed to discuss the four main prioritized contents namely Regional economic connectivity and quality growth; Regional food market; Internationalization of micro-, small-and medium-sized enterprises; and Human resource development.

President Tran Dai Quang and his spouse welcomed at Jorges Chavest International Airport, Peru's capital Lima. Photo: mofa.gov.vn

The 24th APEC Enterprise Summit themed “Quality Growth and Human Development” will also be held with the participation of around 1,000 representatives from leading regional and world corporations, featuring 14 symposiums.

APEC was established on November 6, 1989 based on the initiative of the then Australian Prime Minister, Bob Hawke. It has now become the only forum that consists of developed, developing, new-industrial and most dynamic economies in the Asia-Pacific region.

Since then, the forum has proved itself to be the biggest economic-commercial cooperation mechanism in the Asia-Pacific region and one of the biggest regional economic cooperation mechanisms in the world. The mechanism has been taking the lead in connecting economies and in economic integration via trade liberalization and investment, enhancing the supply linkage and business environment, contributing to making the Asia-Pacific a driving force for the world economic growth and connection.

In order to bring into full play the role and position of APEC, member economies have strongly committed to reach the target of building an Asia-Pacific community of stability, development, and prosperity.

The goals of APEC are to strengthen sustainable development and boost trade liberalization and investment, which are implemented upon the three cooperation pillars of trade liberalization and investment, business facilitation, and economic-technical cooperation.

So far, APEC cooperation has been developing in an increasingly diversified manner in scale, contents, and high commitment. In 2016, APEC, thus far, has carried out and reached for a good number of strategies and goals, at the same time outlining orientations for new long-term cooperation.

Eighteen years after joining APEC, the position of Vietnam at the forum and in the international arena has been increasingly heightened with its economy well on path of development. The country has proactively implemented its deep and broad international integration, is ready to be the host of APEC 2017. The country’s relations with APEC members have been flourishing in different aspects, both in bilateral and multilateral terms.

The participation in the 24th High-level week of APEC of President Tran Dai Quang and the high-level delegation of Vietnam has affirmed that APEC 2017 will be the focal point in the foreign relations activities of Vietnam. The aim is to implement the policy of the 12th Party National Congress on international integration, passing around the significance of the APEC 2017’s theme, and highlighting the role of Vietnam as the host of APEC 2017.

Activities of President Tran Dai Quang and the Vietnamese delegation will contribute actively to the discussion of the shared concerns among APEC members while putting forwards the issues that capture the attention of Vietnam and ASEAN, such as economic restructuring, human resource training, tourism, response to natural disasters, etc. The activities will also strengthen bilateral relations between Vietnam and key partners and promote the business and investment environment of Vietnam to enterprises of APEC member economies.

We strongly believe that the participation of President Tran Dai Quang and the Vietnamese delegation in the 24th High-level week of APEC is part of its success, for the benefits of both Vietnam and other partners, while heightening the position of Vietnam in the international arena and continue to maintain APEC as one of the leading trade and economic cooperation mechanisms in the world.