Promoting multilateralism

Not only promoting regional cooperation, the Asia-Pacific Economic Cooperation (APEC) Summit Week from November 10 to 16 in Peru is also an opportunity to promote multilateral principles.

APEC 2024 Summit Week takes place in Peru from November 10 to 16.

With the participation of the world's leading economies such as the US, China, Japan..., today, APEC represents about 38% of the world's population, contributing up to 62% of GDP and nearly 50% of global trade.

Over the past 35 years, APEC's founding principles of promoting multilateralism and openness have helped strengthen economic and political linkages, promoting regional prosperity.

However, the world is facing many challenges, the most prominent of which are the cracks in relations between major powers and isolationism. Even within APEC, competition and confrontation between major powers are causing the US and China to quietly seek ways to separate their economies from each other.

Asia-Pacific cannot develop and prosper if the integration trend is stopped. This APEC Summit Week is an opportunity for the region to promote closer and more effective cooperation. That goal can be achieved based on the priorities set by the host country of APEC 2024, Peru.

First of all, it is to focus on increasing trade and investment towards comprehensive growth and connectivity. In which, trade focuses on openness, freedom and comprehensiveness; economic growth in many areas of society must be sustainable in the long term.

Next is innovation and digitalization to accelerate the transition to a digital economy. Finally, accelerating the energy transition, including the goal of decarbonizing economic activities and promoting food security.

The past has shown that APEC’s cohesion is an important foundation for the success of member economies. That trend must continue to be affirmed and the contribution of APEC 2024 Summit Week is essential.

Source: https://baoquocte.vn/tuan-le-cap-cao-apec-2024-thuc-day-nguyen-tac-da-phuong-292888.html