Vietnam has participated in APEC with a proactive and positive spirit, contributing responsibly to cultivating a common future of a peaceful, stable, dynamic, creative, cohesive and prosperous Asia-Pacific community.
President Nguyen Minh Triet takes a photo with other leaders wearing Vietnamese ao dai at the APEC 2006 Conference in Hanoi.
On November 15, 1998, in the capital city of Kuala Lumpur, Malaysia, Vietnam officially became a member of the Asia-Pacific Economic Cooperation Forum (APEC) at the 10th APEC Foreign and Economic Ministers' Meeting.
This historic moment marks a strong step in implementing the open foreign policy, multilateralization, diversification and international economic integration of our Party and State, creating momentum for the country's innovation and integration process over the past two decades.
Following its membership in the Association of Southeast Asian Nations (ASEAN) in 1995 and its founding of the Asia-Europe Meeting (ASEM) in 1996, its participation in APEC in 1998 marked an important turning point in Vietnam's international economic integration process and was a premise for raising our country's international economic integration to a global level with its accession to the World Trade Organization (WTO) in 2007.
Images at APEC 1998 marked an important turning point in Vietnam's international economic integration process.
Referring to the reason why Vietnam decided to join APEC, former Deputy Prime Minister Vu Khoan once affirmed that Vietnam's foreign policy philosophy is to always consider itself a part of the world. Vietnam is ready to implement an open-door policy and ready to join international economic organizations.
Besides, in the late 90s, when Vietnam had been carrying out the renovation for more than 10 years, the economic growth rate was quite high, averaging about 8%. Meanwhile, the domestic market had a large population but limited income, so the development space was limited. Therefore, the authorities determined that they had to find every way to expand the market and APEC was one of the world's major markets. In addition, at the end of the last decade of the 20th century, the trend of integration and globalization developed very strongly, Vietnam chose to follow this trend.
As the leading economic cooperation mechanism in the Asia-Pacific, where major global economic, trade and technology centers converge, accounting for 38% of the world's population, contributing 62% of GDP and nearly 50% of global trade, APEC has brought many benefits in terms of strategy, economy, trade and investment, contributing to promoting the country's comprehensive development.
Currently, APEC brings together 15 out of 31 strategic partners, comprehensive partners and are Vietnam's leading important economic and trade partners. 13 out of 17 Free Trade Agreements (FTAs) that Vietnam has signed are with APEC members.
“APEC is an important forum in Vietnam’s multilateral foreign policy. APEC cooperation in the fields of trade and investment liberalization, quality human resource development, structural reform, facilitating micro, small and medium enterprises, responding to natural disasters, enhancing connectivity, etc. has made an important contribution to Vietnam’s socio-economic development,” Deputy Foreign Minister Bui Thanh Son emphasized in 2017.
After joining APEC, Vietnam's position has changed, from being isolated to having a role and voice equal to many of the world's leading economic centers in building and shaping regional economic and trade laws and regulations.
Not only promoting multilateral cooperation, the APEC forum is also an important channel for Vietnam to promote bilateral relations, contributing to creating long-term intertwined interests and deepening relations with partners, consolidating a peaceful environment, and creating favorable conditions for national development.
Notably, as the host of APEC 2006, Vietnam has substantially promoted bilateral relations with many key partners, especially through visits by leaders of China, the United States, Russia, and Japan, during the APEC Summit 2006. The success of the historic bilateral visits and dozens of bilateral talks and contacts during the APEC Summit Week 2017 continued to lay the foundation for elevating our bilateral relations with many partners in the region.
Participating in APEC and implementing commitments on trade and investment opening and business facilitation also contributes to creating momentum for domestic reform, gradually perfecting policies and regulations in line with international commitments; creating a premise for Vietnam to participate in larger playgrounds with higher levels of commitment such as the WTO and FTAs, including new-generation, high-standard FTAs.
Former Minister of Trade Truong Dinh Tuyen said that APEC's unique feature is its non-binding mechanism, so it can boldly propose ideas to promote integration, through which pioneering members can exploit bold ideas to develop and realize them into action.
What makes APEC cooperation different from many other mechanisms is that APEC has brought great potential and opportunities to Vietnamese businesses. The dialogue between APEC Leaders and the APEC Business Advisory Council (ABAC) and the annual APEC Business Summit are important occasions for the business community to propose recommendations to Leaders, proactively participate in contributing to the development of regional economic integration policies, and at the same time create a framework for Vietnamese businesses to connect with the world's leading corporations.
Looking back at the 25 years of Vietnam's participation in APEC, it can be seen that the decision to join APEC in 1998 was a strategic decision in the country's international economic integration, laying the foundation for global integration and contributing to the development of Vietnam as well as the region.
Vietnam's active, responsible and effective contributions to all areas of cooperation have left many important marks in the APEC process.
Most notably, Vietnam is one of the few economies that has been trusted by members to host APEC years twice in 2006 and 2017. At that time, the late President Tran Dai Quang affirmed that this was a “rare” event in the APEC region. After a decade, Vietnam’s position and strength have changed a lot.
Under the chairmanship of Vietnam, the two APEC Summits in Hanoi in 2006 and Da Nang in 2017 were both highly successful, achieving important results and having strategic significance for the APEC Forum as well as economic cooperation and linkages in the Asia-Pacific region. In fact, 2017 was considered the most successful APEC year in 10 years with the participation of all APEC economic leaders.
At the November 2006 Summit Week in Hanoi, for the first time, APEC Leaders identified the prospect of forming a Free Trade Area of the Asia-Pacific (FTAAP). This is an important decision, laying the foundation for a strategic vision of economic integration throughout the region.
At the same time, Vietnam made its mark with the Hanoi Action Plan to implement the Bogor goals on trade and investment liberalization; the APEC comprehensive reform package, cooperation commitments on human security, human resource development, structural reform, support for developing members to improve integration capacity...
Next, with courage and intelligence, determination and consensus, Vietnam successfully organized APEC Year 2017 with nearly 250 events, culminating in the 25th APEC Summit Week in the dynamic and modern coastal city of Da Nang. Here, Vietnam proposed an initiative to build a new vision for APEC after 2020 and established the APEC Vision Group.
As Vice Chair of the APEC Vision Building Group, Vietnam proactively proposed many ideas in line with common interests to continue promoting the role of the people-centered Asia-Pacific region, promoting inclusive and sustainable development, sub-regional connectivity, structural reform, people-to-people connection, technical cooperation, etc. Vietnam's ideas and proposals have been incorporated into the APEC Vision 2040 document.
It can be said that the success and the marks of the two APEC hostings affirm Vietnam's proactive, positive and highly responsible contributions in participating in shaping regional economic connectivity, maintaining the role of Asia-Pacific as the driving force of global economic connectivity and growth.
Vietnam is also one of the most active members in proposing initiatives and cooperation projects, with nearly 150 projects. Many initiatives proposed by Vietnam are considered practical, meeting common concerns, especially in sustainable and inclusive development, human resource development in the digital age, promoting the digital economy, etc.
In particular, in 2021 - when the COVID-19 pandemic caused difficulties for cooperation activities, Vietnam showed itself to be an active and responsible country with APEC, putting forward many important initiatives and contributions. The opinions of the then President Nguyen Xuan Phuc were highly appreciated by APEC leaders. Notable among them was the initiative to fairly share vaccines, calling on members to commit to voluntarily transferring vaccine production technology to expand the scale of vaccine production and supply, towards community immunity. Regarding development, Vietnam also proposed very new measures, such as asking APEC to have a new vision and approach in economic recovery such as promoting the digital economy, e-commerce, removing trade barriers to restore production and business, avoiding disruption. In that process, it is necessary to support vulnerable groups and small and medium enterprises.
Third, in the management of APEC activities, Vietnam has affirmed its role in managing and promoting the implementation of APEC cooperation programs through assuming important positions in the Forum's mechanisms. Notably, it was the Executive Director of the APEC Secretariat (2005 - 2006), Chair of the ASEAN Group in APEC, Chair/Vice Chair of many important committees and working groups of the Forum. Vietnamese enterprises also contributed and actively participated in the APEC Business Advisory Council and the APEC Business Summit. Particularly in the period of 2016 - 2018, Vietnam assumed the role of Chair and Vice Chair of 18 committees and working groups of APEC and ABAC, which was highly appreciated by members.
In the context of the current world situation with many instabilities and challenges, this APEC economic forum will be an opportunity for leaders of 21 economies to discuss these challenges and measures to overcome them, as well as policy coordination between economies, how to bring about the fastest economic recovery, while ensuring the economy develops healthily and strongly in the future.
President Vo Van Thuong and his wife leave Hanoi to attend APEC 2023 in the United States. Photo: Thong Nhat – VNA
President Vo Van Thuong's visit to the United States to attend this year's APEC forum shows Vietnam's support for multilateralism in general, as well as for the APEC process in particular.
According to Vietnamese Ambassador to the United States Nguyen Quoc Dung, Vietnam is ready to cooperate with member countries to further develop this process, ensure sustainable economic development and bring new opportunities, new advantages and especially conditions to overcome current difficulties, inadequacies, instabilities and challenges posed by the very complicated world situation.
In 2023, Vietnam actively supported and closely coordinated with the US host, key APEC members and ASEAN members in APEC to maintain the Forum's principles of free and open trade and investment, promote regional economic cooperation and connectivity, promote efforts to respond to the pandemic, economic recovery and sustainable, inclusive growth in the long term, ensuring the success of APEC Year 2023; promote solidarity and enhance the role of ASEAN.
Vietnam has actively contributed to APEC's activities and common interests, played an active role in implementing the Aotearoa Action Plan on APEC Vision 2040 and continued to promote the important results of APEC Year 2017. Notably, Vietnam is the only member that voluntarily reported on the implementation results of the Aotearoa Action Plan on all three pillars...
Mr. Matt Murray, senior official of the East Asia - Pacific Bureau of the US Department of State, said that Vietnam is a truly important partner for the US in APEC, contributing to all the different efforts and working processes throughout the APEC year.
“The United States is currently paying special attention to Vietnam’s role and position in maintaining regional and global supply chains. The United States and its members have been conducting a number of different meetings and discussions within APEC on how to ensure supply chains become more resilient, and Vietnam really plays a big role here,” said Mr. Murray.
It can be seen that Vietnam's accession to APEC is a strategic visionary decision of the Party and State. Along with joining ASEAN, participating in founding ASEM and initiating negotiations to join the WTO, joining the CPTPP Agreement, joining APEC demonstrates the image of a Vietnam that is innovative, open, integrated into the international community and contributes to the trend of peace, cooperation and development in the region and the world. This is the first economic cooperation mechanism at the Asia-Pacific level that Vietnam has participated in since implementing the renovation policy, affirming the Party's determination to implement the open foreign policy, diversifying, multilateralizing relations and integrating into the international economy.
Article: An Ngoc
Editor: Nhat Minh
Compiled - Presented by: Hong Hanh
Photo, graphics: VNA
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