Vietnam makes effective contributions to all APEC cooperation aspects: Deputy FM

Vietnam has made active, responsible and effective contributions to all cooperation aspects of the Asia-Pacific Economic Cooperation (APEC) forum over the past 25 years and left many important imprints, stated Deputy Foreign Minister Nguyen Minh Hang on the threshold of President Vo Van Thuong’s participation at the APEC Leaders’ Week 2023 and bilateral activities in San Francisco, the US from November 14-17.

Hang noted that Vietnam successfully hosted the APEC Year in 2006 and 2017, during which many important results with strategic meaning to APEC as well as economic cooperation and connectivity in the Asia-Pacific region were produced.

In 2006, Vietnam left a strong imprint with the Hanoi Action Plan to realise the Bogor targets in trade and investment facilitation. For the first time, APEC member economies agreed on the idea of forming a free trade area in the Asia-Pacific region and overall orientations on APEC reform.

In 2017, Vietnam proposed the initiative of building post-2020 APEC vision and the establishment of the APEC Vision Group, reflecting the country’s long-term and overall approach, which received support and high evaluation from members, laying the foundation for the forum to adopt the joint statement on Putrajaya Vision 2040 which defines orientations, strategic goals and priorities of APEC cooperation in the new period.

According to Deputy FM Hang, Vietnam is one of the most active members of APEC in proposing cooperation initiatives and projects. The country has proposed nearly 150 projects in various fields from human resources development, e-commerce promotion, food security, and enhancing women’s economic power, to rural and urban development, ocean debris, and climate change response.

These initiatives and projects have bolstered APEC cooperation that is consistent with the concerns and interests of members, while effectively serving Vietnam's socio-economic development goals, she said.

The official underlined that Vietnam has affirmed its role in managing and speeding up the implementation of APEC cooperation through undertaking important positions in the forum’s mechanisms. Notably, Vietnam acted as Executive Director of APEC Secretariat, Chair of the ASEAN Group at APEC, and Chair/Deputy Chair of many important committees and working groups of the forum. Vietnamese businesses also actively participate in the APEC Business Advisory Council and the APEC CEO Summit.

Hang underlined that the success of the APEC Year 2006 and APEC Year 2017, along with other contributions that Vietnam has made to the forum, has helped enhance the position, role and reputation of Vietnam in the world arena, helping the country optimise opportunities and resources from APEC cooperation and regional economic collaboration and linkage mechanisms to serve the country’s socio-economic development.

Regarding the agenda of the 30th APEC Economic Leaders’ Meeting from November 16-17, Hang said that this year, the meeting carries important meaning to the forum, which is the leading economic cooperation and connection mechanism in Asia-Pacific which is home to 38% of the world population and accounts for 62% of the world GPD and nearly 50% of global trade.

Firstly, this year’s meeting marks 30 years since the first meeting was held, also in the US. At that time, APEC leaders agreed on a joint vision on a community of Asia-Pacific economies for peace, security and prosperity of the people.

Secondly, this year’s meeting is to take place in the context where the world economy as well as the global and regional economic connectivity has changed deeply, along with intertwined risk, challenges and opportunities, as well as traditional and non-traditional security challenges. This is an important moment requiring APEC members to strengthen dialogue and cooperation, turning challenges into opportunities for recovery and sustainable development.

Themed “Creating a Resilient and Sustainable Future for All”, the meeting will focus on evaluating APEC cooperation outcomes over the past 30 years, drawing lessons and defining cooperation orientations in the new period. The leaders will also discuss major issues in the world and regional economy, especially the promotion of cooperation in trade, investment, sustainable and inclusive growth, as well as the strengthening of regional economic connections and linkage, stated the Deputy FM.

Mentioning Vietnam’s expected contributions to the event, Hang said that with the significance of this year’s APEC Economic Leaders’ Meeting and the growing relationship between Vietnam and the US, President Thuong’s trip to the US for the meeting and bilateral activities has important meaning.

The Vietnamese State leader and other APEC leaders will discuss issues with crucial meaning to the world and regional economy, and sketch out cooperation in trade, investment, science-technology, innovation and many other areas.

Vietnam and other members will promote the spirit of dialogue, construction and responsibility, uphold multilateralism and join hands for sustainable development and prosperity of the region, said the Deputy FM.

According to the official, President Thuong will attend and address the APEC CEO Summit, which expects the participation of more than 2,000 leaders of leading firms in the world and Asia-Pacific region. He will call for the joint efforts of the business community to overcome current challenges and fully tap opportunities for sustainable growth in the region and particular economy, including Vietnam.

The President will engage in bilateral activities with US leaders and partners, especially those in California, with the aim of continuing to beef up the partnership between the two countries in the spirit of their joint statement on the establishment of their comprehensive strategic partnership, especially in the fields of education and training, science-technology, innovation and locality-to-locality connectivity, Hang underscored.