Vietnam actively contributes to an open and sustainable APEC

President Luong Cuong affirmed that Vietnam will continue to actively contribute and effectively implement APEC cooperation orientations and visions.

On the morning of November 16, local time in Lima, Peru, President Luong Cuong attended the 31st Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting. The meeting was attended by leaders and heads of delegations from 21 member economies and the guest, Managing Director of the International Monetary Fund (IMF). With the theme "Empowerment. Inclusion. Growth", the conference affirmed the determination to realize the Putrajaya Vision 2040 of an open, dynamic, resilient and peaceful Asia-Pacific community, ensuring that all people participate in and benefit from sustainable and inclusive economic growth. The conference also emphasized the priority of maintaining APEC as a dynamic and resilient cooperation forum, based on fundamental principles such as voluntariness, non-bindingness and consensus.

President Luong Cuong and other leaders attend the 31st APEC Summit

PHOTO: VNA

The leaders agreed to promote cooperation to improve the resilience of APEC economies; digital transformation across the region, developing digital infrastructure and digital skills, facilitating e-commerce; effectively responding to climate change; and creating more jobs, enhancing economic empowerment for women and vulnerable groups, thereby narrowing the development gap. Speaking at the conference, President Luong Cuong pointed out three major contrasts in the current world economic picture: Geopolitical tensions and macroeconomic instability are affecting global growth, but Asia-Pacific is still the locomotive and growth engine of the world. Protectionism, fragmentation, and polarization are increasing, but the need for economic cooperation and connectivity remains very strong. Development gaps and global environmental issues continue to be top challenges, however, the development of breakthrough technologies, digital transformation and green transformation trends are increasingly profound and comprehensive, bringing many creative solutions and cooperation opportunities. In order for APEC to continue to stand firm in the face of challenges and effectively seize opportunities, the President proposed three major cooperation orientations for APEC in the coming time: First, continue to promote trade and investment liberalization, strengthen the multilateral trading system based on rules. Create and maintain smooth economic links. Further facilitate cross-border flows of finance, technology, knowledge and labor. Form and develop resilient and sustainable supply chains. Second, promote cooperation programs and initiatives on inclusive growth and inclusive technology. Put people at the center of the digital transformation and green transformation process. Prioritize solutions to narrow the digital gap, support disadvantaged communities in remote areas to access digital technologies and the fruits of innovation. Invest heavily in green infrastructure, digital infrastructure, and cooperate in sharing new technology applications in dealing with global issues, especially climate change. Third, continuously improve institutional capacity and global governance. Promote structural reform, perfect APEC's institutions in the direction of streamlining, dynamism, adaptation, anticipation, and readiness to create new growth drivers. Encourage the participation and extensive contributions of businesses and people - the subjects, goals, and centers of APEC cooperation.

President Luong Cuong delivers an important speech at the 31st APEC Summit.

President Luong Cuong also affirmed that in his role as host of APEC 2027 and member of the APEC New Structural Reform Agenda Development Group for the 2026-2030 period, Vietnam will continue to actively contribute and effectively implement APEC cooperation orientations and visions. After the discussion, the conference unanimously adopted the Joint Statement of APEC Leaders and two signature initiatives of host country Peru, including the Roadmap for Promoting Transition to a Formal and Global Economy and the Statement on a New Vision for the Free Trade Area of ​​the Asia-Pacific (FTAAP). The leaders also welcomed the Republic of Korea to host APEC 2025, China to host APEC 2026 and Vietnam to host APEC 2027. * Also on November 16, on the occasion of attending the APEC 2024 Summit Week, President Luong Cuong met with President of the Republic of Korea Yoon Suk Yeol and had a meeting with Prime Minister of Japan Ishiba Shigeru. President Luong Cuong respectfully invited President Yoon Suk Yeol to visit Vietnam again and thanked President Yoon Suk Yeol for his invitation to visit Korea at an appropriate time. The two sides agreed to arrange visits through diplomatic channels. On the afternoon of November 16, local time, President Luong Cuong and the Vietnamese high-ranking delegation left Jorge Chavez International Airport, Lima, to return home, successfully concluding the working trip to attend the APEC 2024 Summit Week and official visits to the Republic of Chile and the Republic of Peru.

A strong message about a Vietnam entering a new era

In an interview with the press, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed that President Luong Cuong's official visit to Chile and Peru and his attendance at the APEC 2024 Summit Week in Lima, Peru was a great success. The Deputy Prime Minister and Minister of Foreign Affairs said that the official visit to Chile and Peru demonstrated Vietnam's consistent foreign policy, attaching importance to relations with countries with traditional friendship, especially in the Latin American and Caribbean regions, creating a foundation for expanding cooperation with other Latin American countries. According to Deputy Prime Minister and Minister of Foreign Affairs, President Luong Cuong had a rich, substantive, and effective working program in Chile and Peru. Both countries gave the President a thoughtful, respectful, and warm welcome. During the visit, many important documents were signed, contributing to strengthening political trust and creating new momentum for multi-sectoral cooperation, while creating new momentum, opening up many cooperation opportunities between Vietnam and Chile and Peru in many traditional fields and expanding to new, potential fields. Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said that President Luong Cuong attended all APEC leaders' activities, had a series of bilateral meetings with senior leaders of Vietnam's important partners, and exchanged with presidents and CEOs of major corporations. The President also delivered an important speech at the APEC Business Summit 2024, sharing in-depth assessments of trends, opportunities, and challenges in the region and the world, as well as proposing major directions for APEC to continue to play the leading role and driving force of global economic growth, ensuring that people are at the center of the economic development process. Highly appreciated by APEC leaders, the President's speeches highlighted the fundamental principles of APEC, multilateralism, free trade and affirmed the importance of solidarity and consensus among members. Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed that the President's sharing at the APEC High-Level Week once again conveyed a strong message about a Vietnam entering a new era, an era of national growth, a dynamic, innovative Vietnam and a leading destination for international investors. In addition, Vietnam will continue to be proactive in APEC cooperation, aiming at strategic goals such as digital transformation, renewable energy development, climate change response and preparation for APEC Year 2027. Dau Tien Dat