VietNamNet Bridge – On November 20 morning, the 24th APEC Summit entered the second day, with the participation of leaders of the 21 member economies. President Tran Dai Quang led a high level delegation of Vietnam to attend activities at the summit.

APEC leaders

At the first plenary session, the leaders discussed the topic "The challenges for liberalization of trade and investment in the current global context." Addressing the opening session, Peru President Pablo Kuczynski stressed the need to promote trade and investment liberalization amid the rising trend of protectionism, raising many difficulties for multilateral trading systems.

Speaking at the meeting, the Vietnamese President stressed that the APEC members should strengthen efforts to finalize the Bogo goals in 2020 to promote regional trade growth.

He said that APEC should grasp new trends, actively initiate and coordinate mechanisms to promote cooperation and economic integration at all levels, including the ASEAN Economic Community, the TPP, and the Regional Comprehensive Economic Partnership (RCEP) and look towards the establishment of a free trade area in Asia - Pacific (FTAAP) and the need to ensure a comprehensive, balanced and complementary links between different levels.

The President recommended that member economies focus on effective implementation of the new agenda on structural reform, a quality growth strategy, development of human resources and quality infrastructure; give more support for microenterprises, small and medium enterprises (MSMEs), especially increasing their ability to have access to market, and finance and technology, to join the global value chain and global supply chain. Vietnam supports the green MSMEs initiatives and businesses led by women.

He also emphasized that ASEAN is actively implementing the "Master Plan on ASEAN Economic Community by 2025". The implementation of the major orientations of this plan on the liberalization and facilitation of trade and investment in line with cooperation orientation, contributing to strengthening the close links between the two mechanisms.

The same day, President Tran Dai Quang and the APEC leaders attended the second plenary session on the theme "Food security, adaptation to climate change and access to water resources" and "Asia - Pacific link: Towards effective and practical connectivity". This is the key content of APEC cooperation in 2016.

At the meeting, the leaders stressed the role of food security and water resources for quality growth, especially in the context that the Asia - Pacific region is the most affected by natural disasters and climate change.

The attendees committed to strengthen coordination in coping with climate change and ensuring food security, while promoting infrastructure connections, digital connections, institutional and human connection in order to facilitate the exchange of trade and investment as well as improve the quality of life of people.

President Tran Dai Quang said that climate change and natural disasters along with the scarcity of water resources not only have a negative impact on the lives of people and sustainable development, but also a directly impact food security in the region. Vietnam’s Mekong Delta, one of the important granaries of the world, is under serious impact from drought and salinity, which affects the lives and production of tens of millions of people.

The President outlined five specific recommendations. Firstly, the APEC economies should have the political will and serious and creative solutions to implement global climate agreements. Secondly, they should promote sustainable agricultural development, in association with effective management and efficient use of natural resources and water resources at all level, including management of across border water resources.

Thirdly, they should actively implement the APEC Framework for Disaster Risk Mitigation, enhance sustainability and resilience after natural disasters, focusing on community-based disaster risk management and sustainable rural development. Fourthly, they should step up efforts to connect remote areas, and promote public-private partnership in building transport, telecommunications, Internet infrastructure, especially in the less developed regions. Fifthly, APEC should be interested in and strengthen capacity building, technology transfer and experience sharing between members.

At the closing session, as the host of the upcoming APEC Summit, President Tran Dai Quang was invited to speak about the APEC Year 2017 in Vietnam. He welcomed the leaders and delegates of member economies to attend activities of the APEC Year 2017 in Vietnam the theme "Creating New Dynamism, Fostering a Shared Future”.

The 24th APEC Summit was a great success, through the Declaration of the APEC leaders with two attached documents include the "Lima Declaration on the Free Trade Area of Asia-Pacific" and "The Roadmap for Competitiveness in the Service Sector".

The declaration of the APEC leaders reaffirmed their commitment to maintain the pioneering role of APEC in liberalizing trade and investment, sustainable economic growth and prosperity in the region.

Minh Tam