Vietnam and APEC create new growth momentum

By making good use of APEC resources and overcoming internal limitations, Vietnam continues to contribute to creating strong momentum for the region's economic recovery and sustainable development...

The United States chose the theme “Creating a Resilient and Sustainable Future for All” for APEC 2023.

During 25 years of being an active and proactive member of the Asia-Pacific Economic Cooperation (APEC) Forum, Vietnam's mark has been highlighted through its two successful hosting roles, proposing more than 100 projects in many fields, playing a leading role in many important activities and notably proactively initiating and participating in leading the building of the APEC vision with the title "People and Prosperity: APEC Vision to 2040".

Responsible, proactive and leading

Together with 21 member economies, Vietnam continues to attach importance to APEC - the leading economic linkage mechanism in Asia - Pacific, the leading regional forum, promoting multilateral efforts in economic recovery and preparing for sustainable, inclusive and self-reliant growth steps.

Furthermore, APEC is also important for both Vietnam's security and economy, as this forum brings together 15 out of 30 strategic partners, comprehensive partners and the most important economic and trade partners, accounting for more than 77% of trade, nearly 81% of direct investment and more than 85% of our country's tourism. 17/20 APEC members are Vietnam's Free Trade Agreement (FTA) partners.

After a quarter of a century of participating in APEC, consistent with its open, diversified, multilateral foreign policy and international economic integration, Vietnam has increasingly proven itself to be a responsible, proactive member and an active contributor to the common activities of the Forum.

Vietnam successfully assumed the role of APEC host (2006 and 2017); the position of Executive Director of the APEC Secretariat (2005-2006); Chair/Vice Chair of many key committees and working groups in APEC, such as the Trade and Investment Committee, the Budget Management Committee, the Working Groups on Small and Medium Enterprises, Health, Emergency Response...; the role of Chair, Vice Chair of 18 Committees, Working Groups of APEC and ABAC in the period of 2016-2018 only. Vietnam also successfully assumed the role of Chair of the ASEAN Group in APEC in 2022...

In particular, Vietnam is one of the most active members in proposing more than 100 projects in many fields. Many initiatives proposed by Vietnam are welcomed by the APEC community for their practicality, meeting common concerns and interests, especially in sustainable and inclusive development, human resource development in the digital age, promoting the digital economy, narrowing the digital gap, facilitating cross-border e-commerce, green, sustainable and innovative micro, small and medium enterprises (MSMEs), food security, climate change response, ocean waste treatment, and economic empowerment for women, etc.

As Vice Chair of the APEC Vision Group, Vietnam has proactively participated in leading and coordinating the process of developing the APEC Vision Group's Recommendation Report titled "People and Prosperity: APEC Vision to 2040".

With the APEC Vision 2040 and the Aotearoa Action Plan to implement the Vision adopted by the leaders of the 21 member economies, APEC has completed the implementation of the initiative initiated by Vietnam and approved at the 25th APEC Summit in Da Nang (November 2017). Vietnam is the only member that voluntarily reported on the implementation results of the Aotearoa Action Plan across all three pillars.

In the context of the Covid-19 pandemic, Vietnam has proactively proposed many solutions to avoid disruption of the supply chain, ensure import and export markets of regional economies; promote experience sharing and policy coordination in implementing economic and financial solutions to overcome the crisis; strengthen measures to support businesses and people to overcome difficult times and improve adaptability in the new situation.

At APEC 2022, Vietnam strives to propose and support cooperation contents that need to ensure an open, transparent, and non-discriminatory trade and investment environment; support economies in successful green and digital transformation; ensure "balance" in each economy between sectors and social components; balance interests and responsibilities between economies and regions; balance between ensuring the autonomy and self-reliance of each economy and proactively opening up, integrating and linking the economy; balance between innovation and transformation and ensuring stability...

In addition, the Vietnamese business community contributed many proposals and recommendations to APEC leaders and ministers and directly participated in implementing many regional economic cooperation activities.

Participating in APEC helps Vietnam promote the implementation of the policy of proactive and active international integration and raising the level of multilateral diplomacy, enhancing international position; promoting bilateral relations, contributing to intertwining long-term interests and deepening relations with partners, consolidating a peaceful environment, creating favorable conditions for national development...

At the invitation of the APEC host leader, President Vo Van Thuong and his wife will lead a high-level delegation to attend the 30th Asia-Pacific Economic Leaders' Meeting (November 17) and related events, such as the Dialogue between leaders and the APEC Business Advisory Council, the Informal Dialogue between APEC leaders and guests and the keynote speech at the APEC Business Summit.

New highlights

In 2023, hosting the APEC Forum for the third time, the host country, the United States, chose the theme "Creating a resilient and sustainable future for all" based on three priorities: Connectivity - building a resilient and connected region that promotes inclusive economic prosperity; Innovation - promoting an innovative environment for a sustainable future; and Inclusion - strengthening an equitable and inclusive future for all people. This year's themes and priorities continue with those of APEC hosts in recent years, with a special focus on promoting cooperation on sustainable and inclusive development, connectivity, innovation, and promoting new growth drivers.

Accordingly, APEC cooperation continues to prioritize emphasizing interconnectivity, innovation and comprehensiveness; focusing efforts on implementing major cooperation strategies and programs, including: Enhanced Agenda on Structural Reform; Services Competitiveness Roadmap to 2025; Master Connectivity Plan to 2025; Economic, Financial and Social Inclusive Development Agenda to 2030; Human Resource Development Framework in the Digital Age to 2025; La Serena Roadmap on Women and Inclusive Growth to 2030.

In addition, APEC's role is also reflected in the fact that many large-scale economic linkages have originated from APEC and APEC members, of which the Trans-Pacific Partnership Agreement (TPP), later the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership Agreement (RCEP) are vivid examples.

With these new highlights, despite the diversity in institutions and development levels, core interests and international status, APEC continues to affirm its leading important role, together with other multilateral platforms, contributing to reshaping the world order, towards a fairer model, promoting international laws and rules to adapt to changes over time; orienting and promoting the trend of economic, trade and investment liberalization, making important contributions to economic growth and maintaining peace, stability, cooperation and development in the region...

Vietnam affirms that it will continue to actively support and closely coordinate with the host, the United States, 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 economic recovery efforts and sustainable, inclusive growth in the long term, ensure the success of APEC Year 2023; promote solidarity and enhance the role of ASEAN.

In the coming time, based on the achievements and experiences gained, Vietnam needs to continue to proactively develop and implement its commitments in APEC; strengthen close and effective coordination in chairing or co-chairing APEC cooperation projects on circular economy, solid marine waste treatment, e-commerce, women's empowerment, climate change response, clean energy, marine health, connecting self-reliant supply chains, etc.

In particular, the Government and authorities at all levels need to accompany the business community and people nationwide, improve policy and market response capacity, make good use of APEC resources, contribute to creating strong momentum for the process of economic recovery and sustainable development, and promptly adapt to all rapid changes in the regional and global context...

Source: https://baoquocte.vn/viet-nam-cung-apec-kien-tao-dong-luc-tang-truong-moi-249401.html