Hosting the Asia-Pacific Economic Cooperation (APEC) Forum for a second time shows that Vietnam is an active and responsible member of the group, making effective contributions to APEC’s development after 19 years of membership.

Pano welcomes APEC 2017 in Da Nang city 

Vietnam’s admission to APEC in 1998 marked an important milestone in the country’s external policy of expansion, diversification and multilateralisation of relations and international economic integration. 

APEC was the first economic cooperation mechanism in Asia-Pacific Vietnam joined after entering the “Doi moi” (reform) process, with a focus on long-term cooperation frameworks with partners in the region.

Over the past 19 years, with the motto of cooperating to jointly build a peaceful, stable, developing and prosperous Asia-Pacific community, Vietnam has proved an active member via promoting economic connectivity and reinforcing the regional multilateral trade system. 

Vietnam has not only participated in APEC cooperation programmes in various fields and implemented APEC cooperation commitments but also put forth proposals and initiatives to facilitate trade and investment in the region.

The country’s practical and remarkable contributions to APEC during its 19-year membership have increased trust from other economies. Notably, Vietnam made positive impressions during its first time hosting APEC in 2006, which mapped out long-term cooperation plans for APEC, especially the Hanoi Action Plan to implement the Busan Roadmap towards the Bogor Goals on trade and investment liberalisation by 2020.

The hosting of APEC 2006 and other forums in recent years has helped Vietnam gain experience in preparing for and contributing ideas, initiatives and major orientations for the APEC Year 2017. 

The country selected “Creating New Dynamism, Fostering a Shared Future” as the theme of APEC 2017 to promote growth via extensive and intensive economic cooperation and integration in Asian-Pacific.

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 in the digital age; and enhancing food security and sustainable agriculture in response to climate change.

The 25th APEC Economic Leaders’ Meeting this week in the central coastal city of Da Nang will contribute to maintaining the role and position of APEC as well as building a self-reliant, dynamic and prosperous Asia-Pacific.

Established in 1989, the Asia-Pacific Economic Cooperation (APEC) forum comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.

APEC represents about 39 percent of the world’s population and contributes 57 percent to global GDP and 49 percent of international trade.

APEC 2017: Argentinean media hail Vietnam’s socio-economic achievement

A view of Vietnam's landscape (Source: Acercandonaciones.com)

Argentinean media have run articles about the APEC 2017 Economic Leaders’ Meeting which is taking place in the central city of Da Nang as well as socio-economic development in Vietnam.

The website Acercandonaciones.com ran an article, titled “Vietnam and the new economic order in the Asia-Pacific”, saying that the APEC Economic Leaders’ Meeting will take place in Da Nang from November 10-11, a place for APEC economic leaders to define the new economic order of the Asia-Pacific.

Since the 2016 APEC meeting in the Peruvian city of Lima, the economic order of Asia-Pacific, as well as other regions, has significantly changed.

Mentioning the US’s withdrawal from the Trans-Pacific Partnership (TPP) Agreement, the article said since March, Chile has promoted a meeting together with China, the Republic of Korea and Colombia, without the US, where they agreed to continue making progress in trade integration in Asia-Pacific.

Japan and New Zealand have led the push for a TPP without the US. During meetings in Japan in July and September, ahead of the APEC 2017 Economic Leaders’ Meeting, the stakeholders reached consensus on some technical issues and minimised the discrepancies on a new version of the TPP.

The APEC Economic Leaders’ Meeting will also pose challenges for Vietnam’s economy in accelerating opening trade, and seeking to penetrate in the world's major markets to meet high environmental, labour, intellectual and social standards. Vietnam will also play the role of a diplomatic mediator in the talks for the TPP and the Regional Comprehensive Economic Partnership (RCEP).

Vietnam wants better trade penetration in the region, while identifying trade order conditions of Asia-Pacific. With its preparations throughout this year and the upcoming APEC Economic Leader; Meeting, Vietnam wants to show the world that it is up to the challenges.

In another article, AsiaTV, an Argentine broadcaster, covered Vietnam’s remarkable economic achievements in the first nine months of this year amid global challenges.

The country’s GDP rose 5.15 percent in the first quarter, 6.28 percent and 7.46 percent in the second and the third, respectively.

Its economic growth rate is expected to reach 6.7 percent in 2017, while inflation has been curbed and foreign currency reserves hit 44 billion USD, and export value reached 154 billion USD, up 19 percent.

Japan has high expectation of Vietnam – host of APEC 2017

Tsutomu Koizumi, deputy head of the Japanese Foreign Ministry’s Economic Affairs Bureau 

Japan has high expectation of the leadership of Vietnam as the host of the APEC 2017 Economic Leaders’ Meeting, and Japan, also an APEC member, will contribute to APEC discussions, a Japanese official has said.

Tsutomu Koizumi, deputy head of the Japanese Foreign Ministry’s Economic Affairs Bureau, told a Tokyo-based Vietnam News Agency reporter that his country will continue to cooperate and support so that the meeting in Vietnam will be successful.

Vietnam’s efforts as the host of APEC meetings have been highly appreciated, he said, adding that the events have been successful so far.

He said since its foundation in 1989, APEC has reaped considerable achievements in many areas, including economic integration in Asia-Pacific. APEC member economies make up 44.3 trillion USD or 60 percent of the world’s GDP and some 17.8 trillion USD or 50 percent of global trade revenue. 

Amid a changing business climate with the appearance of digital services and trade and growing protectionism, APEC plays an increasingly important role in facilitating trade and investment liberalisation, Koizumi noted.

It has also been promoting initiatives to address emerging challenges, the Japanese official said, while mentioning the priorities of the APEC Vietnam 2017, which are promoting sustainable, innovative and inclusive growth; deepening regional economic integration; strengthening micro-, small- and medium-sized enterprises’ competitiveness and innovation in the digital age; and enhancing food security and sustainable agriculture in response to climate change.

Established in 1989, the 21-economy APEC is Asia Pacific’s premier economic forum. Its primary goal is to support sustainable growth and prosperity in the region.

This year is the second time Vietnam has hosted APEC events after the first time in 2006. The APEC Economic Leaders’ Week is taking place in the central city of Da Nang from November 6 to 11.

APEC 2017: Cambodia press praises Vietnam’s role and position

Rasmei Kampuchea, a daily Cambodian newspaper in Khmer language, published an article on November 5, analysing Vietnam’s role as the host of the APEC Year 2017. 

The article stated that hosting the Asia-Pacific Economic Cooperation (APEC) forum is a priority in Vietnam’s foreign policy. It said alongside the country’s commitments to the ASEAN, United Nations and the World Trade Organisation, the APEC Year 2017 proves its progress in multilateral diplomacy and global integration.

The paper described the APEC forum as a key platform for Vietnam’s integration, as the bloc groups 13 out of the country’s 25 strategic and comprehensive partners. Vietnam has signed free trade agreements with 18 out of 20 APEC member economies.

The article summarised the country’s history in APEC, including the hosting of the APEC Year 2006, when the 14th APEC Economic Leaders' Meeting took place and the Hanoi Action Plan on the implementation of the Bogor Goals and on long-term cooperation orientations was passed. In 2014, the Vietnamese capital became the venue of the 6th APEC Human Resource Development Ministerial Meeting.

The paper said Vietnam is an active APEC member economy, which has proposed and implemented more than 100 projects in commerce, investment, economic and technical cooperation, small- and medium-sized enterprises (SMEs) development, health, food security, and anti-terrorism.

It said Vietnam has performed well as chair, co-chair and deputy chair of meetings of APEC committees and working groups on SMEs, energy, food security, natural disasters prevention, and sustainable tourism, among others.

In 2013, Vietnam registered to host the APEC Year 2017. The role reflects Vietnam’s contributions to the cooperation forum toward the 20th anniversary of the country’s APEC membership (1998 - 2008), the article noted.

Established in 1989, the Asia-Pacific Economic Cooperation (APEC) groups Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.

It represents about 39 percent of the world’s population and contributes 57 percent to global GDP and 49 percent of international trade.

Every year, a host member holds more than 200 APEC events, including about 8-12 ministerial meetings, with the APEC Economic Leaders’ Week being the most important and often held at the end of the year. The bloc aims to complete the Bogor Goals on realising free and open trade in the Asia-Pacific in 2020.

This year’s APEC Economic Leaders’ Week began in Da Nang, Vietnam, on November 6, lasting through November 11.

VNA