Vietnam has shown itself to be an active and responsible country, contributing many highly feasible initiatives of the Asia-Pacific Economic Cooperation (APEC) forum.
Vietnam promotes APEC Vision
Vietnamese President Nguyen Xuan Phuc led a delegation to attend the main activities of the November 8-12 APEC Economic Leaders Week, including the 28th APEC Economic Leaders Meeting, the annual dialogue between the leaders of APEC economies and the APEC Business Advisory Council (ABAC), and the APEC CEO Summit. Vietnamese ministers also attended the APEC Ministerial Meeting held online on November 8-9.
Vietnam’s message to the meetings was that APEC continues to be a key regional forum to promote multilateralism, overcome the impact of the Covid-19 pandemic, and drive the development of the regional and global economy.
Deputy Minister of Foreign Affairs Dang Hoang Giang said Vietnam’s messages resonated with APEC leaders, specifically on facilitating fair access to vaccines, medical supplies and resources and adopting stronger measures to fight the pandemic. Vietnam suggested APEC adopt a new approach to economic recovery, promoting the digital economy, boosting e-commerce, fostering trade liberalization, and removing trade barriers to restore trade and production and avoid manufacturing chain disruptions.
With the Asia-Pacific region and the world suffering the consequences of climate change, green growth is required. Therefore, Vietnam’s measures and proposals on climate change also contribute to strengthening APEC cooperation in promoting green and inclusive growth.
In particular, effective implementation of the APEC Vision to 2040 is most important. Vietnam is one of the key architects of the vision and also one of the leading members of its implementation.
Support for open trading system
Vietnam has proposed many solutions to avoid supply chain disruptions, protect import and export markets, enhance experience sharing and policy coordination in implementing economic and financial measures to overcome Covid-19, support pandemic-hit individuals and businesses (vulnerable groups in society and small- and medium-sized enterprises), and improve resilience in the new normal.
Vietnamese Minister of Industry and Trade Nguyen Hong Dien emphasized a number of Vietnam’s priorities in economic reconstruction and recovery, domestic trade and investment as well as in making contributions to the general recovery of the APEC region.
First, Vietnam will prioritize restoring supply chains and ensuring the circulation of goods and safe and smooth trade and production activities. Second, Vietnam will support enterprises, household businesses and individuals in restoring production and stabilizing their lives through the government’s support packages. Third, Vietnam will conduct large-scale investments in inter-regional transport infrastructure, green energy and national digital infrastructure with the involvement of public investment and the participation of foreign and private investors.
Minister Dien affirmed Vietnam’s support for an open, balanced, non-discriminatory, rules and principles-based multilateral trading system.
Thu Phuong