The year 2017 sees the second time Vietnam has played host to the Asia-Pacific Economic Cooperation (APEC) forum after 19 years of being a member of the forum. 

This demonstrates high trust the international community has given to Vietnam and features the country’s strategic vision on the future of the Asian-Pacific region, according to President Tran Dai Quang.

International trust

In 1988, Vietnam officially became an APEC member. After seven years of joining APEC, the country successfully hosted the forum for the first time in 2006, which was recognised by APEC member economies and international friends.

At the 21st APEC Economic Leaders’ Meeting in Indonesia in October 2013, APEC member economies agreed to support Vietnam to host the forum for the second time in 2017. 

With the increasing position and capacity after nearly 30 years of pursuing “Doi moi” (reform), the organisation of the 2017 forum has reaffirmed Vietnam’s strategic vision on the future of the Asian-Pacific region and her desire to join efforts to expand and deepen cooperation between APEC member economies while maintaining the Asia-Pacific’s role as a driver of global growth and connectivity.

Great expectations

In its second hosting, Vietnam expects to make practical contributions to the development of APEC and effective cooperation. Given challenges, APEC needs to seek new momentum for sustainable growth and deeper connectivity. The crucial thing is to realise the Bogor goals on trade and investment liberalisation by 2020.

According to the Ministry of Foreign Affairs, Vietnam hopes the outcomes of the APEC Year 2017 will contribute to increasing the position of APEC as a leading economic cooperation forum that pioneers in expanding and deepening regional connectivity and promoting peace, stability, cooperation and development in Asia-Pacific and around the world. 

Through the host of APEC 2017, Vietnam also looks to enhance friendship and deepen partnership with other member economies. Vietnamese businesses have more opportunities to establish ties with the world’s leading partners.

Main priorities

At the 24th APEC Economic Leaders’ Meeting in Peru in November 2016, President Tran Dai Quang announced the theme of the APEC Year 2017, which is “Creating New Dynamism, Fostering a Shared Future”. This proposal received warm support from all member economies, business communities, and regional senior experts.

The theme reflects the common concern of APEC member economies on seeking “new dynamism” for integration, connectivity, and economic growth. It also demonstrates the long-term goals of APEC and Asia-Pacific of “fostering a shared future” of peace, stability, development and prosperity.

Vietnam proposed four main priorities, including promoting sustainable, innovative and inclusive growth; deepening regional economic integration; strengthening competitiveness and innovation for micro, small-and medium-sized enterprises (MSMEs) in the digital age; and enhancing food security and sustainable agriculture in response to climate change.

These priorities aim to resume regional growth and connectivity, contributing to the fulfillment of the Bogor goals and the implementation of the United Nations Agenda on sustainable development through 2030.-VNA