APEC economic leaders at the meeting.

Also at the closing ceremony, the host of APEC Vietnam 2017 handed over the role of the Chairmanship of APEC 2018 for Papua New Guinea.

The Da Nang Declaration: Creating New Dynamism, Fostering a Shared Future reaffirms APEC Leaders’ long-standing commitment to APEC’s mission of supporting sustainable economic growth and prosperity in the Asia-Pacific. The Declaration consists of five major contents:

Firstly, adopting the APEC Action Plan on Promoting Innovative Growth, Inclusion and Sustainable Employment to confirm the determination of member economies towards the development of an APEC community of inclusive development and reliance. This is also important content in the dialogue between APEC economic leaders and the business community.

Secondly, in order to improve the quality of growth, competitiveness and productivity of APEC economies, the urgent need is to increase the quality of education, equip the workers with necessary knowledge and skills to better adapt to the employment and labor market and environment that are being fundamentally changed by the Fourth Industrial Revolution. Deeply aware of that, APEC leaders adopted the Quality Human Resources Development in the Digital Age framework. Policy orientations and measures set out in the framework not only meet the common interest of the region, but also are create leverage for Vietnam to continue implementing effectively the strategy on human resource development, especially high quality human resources.

Thirdly, in order to create new impetus for sustainable and inclusive growth, the Meeting spent considerable time discussing policy and strategic measures; micro, small and medium-sized enterprises; creative start-ups; sustainable agriculture adapting to climate change; enhance food - water - energy security, rural and urban development; structural reform; capacity building; disaster risk reduction; economic empowerment for women; and sustainable tourism development. 

Implementing APEC long-term cooperation frameworks in these areas will contribute to strengthening the role of the Forum as the region's leader in economic cooperation policy and global efforts on sustainable development, as common objectives to be achieved by 2030, set by the United Nations. 

Fourthly, promoting free and open trade and investment in the Asia-Pacific is the mission of APEC economies. In order for APEC to continue to be a driving force in linking and connecting the region, contributing to Asia-Pacific as the dynamism of global economic growth and linkages, the Meeting reaffirmed its commitment to fulfill the Bogor Goals on Trade and Investment Liberalization; promote the facilitation of investment, business and services; strengthen economic and technical cooperation; and continue efforts towards the formation of the Free Trade Area for Asia-Pacific (FTAAP). 

Emphasizing the role of APEC in supporting a multilateral trading system based on free, open, fair, transparent and inclusive cooperation, the Meeting also welcomed the adoption of the APEC Framework for Facilitation of Cross-border E-Commerce and the APEC Experience Series on Facilitating Supporting Industries to help APEC's effective exploitation of the development potential of the network and digital economics, and global supply and value chain.

Fifthly, APEC is working harder than ever to complete the Bogor Goals by 2020 and prepare itself for the fourth decade of development. To enhance APEC's role and position in the multilayered international environment, APEC Economic Leaders welcome the establishment of the APEC Vision Group to assist senior officials in identifying directions and the future of the Forum after 2020. It is a self-reliant forum capable of handling global challenges as well as being highly adaptable to a rapidly changing world. This decision also represents the determination of member economies towards a peaceful, stable, dynamic, connected and prosperous Asia-Pacific community in which people and businesses are centrally located.

At the closing ceremony, Vietnam - the host country of APEC 2017 – handed over the role of President of APEC 2018 to Papua New Guinea.

Thai An