Vietnam
APEC 2017: Expectations to change trade environment
APEC 2017 SOM Chair, Vice Minister of Foreign Affairs Bui Thanh Son stressed that APEC has enough resources to turn challenges into growth dynamics.
On March 2, the first APEC Senior Officials Meeting (SOM1) kicked off in Nha Trang City, south central Khanh Hoa province, with the attendance of delegates from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) Forum.
In his opening speech, Vietnamese Permanent Deputy Foreign Minister, APEC 2017 SOM Chair Bui Thanh Son said despite some positive prediction, global and regional economic growth remains slow. Global trade is weak, and investment is subdued, while there are many uncertainties in the world.
Delegates to SOM1 are expected to hear the Committee on Trade and Investment (CTI) Chair’s report on the outcomes of its first meeting, including the CTI’s priority areas and work plan for 2017. They will discuss ways APEC can support the multilateral trading system (MTS) and contribute to the 11th World Trade Organisation (WTO) Ministerial Conference, as well as ways to further deepen regional economic integration (REI), including the acceleration of work to achieve the Bogor Goals in the next steps towards the eventual realisation of an Free Trade Area of the Asia-Pacific (FTAAP).
SOM1 is to deliberate progress in implementing the APEC Services Competitiveness Roadmap (ASCR), including the way forward on the reporting and monitoring of its implementation. SOM1 will also exchange views on initiatives to facilitate micro-, small- and medium-sized enterprises’ (MSMEs) greater participation in global value chains (GVCs), the business environment for MSMEs in the digital age, and the progress in the development of the Strategy on green and sustainable MSMEs.
The delegates are scheduled to hear the SOM Steering Committee on Economic and Technical Cooperation (SCE) Chair’s report on SCE’s deliberations at SCE and SCE-COW (Committee of the Whole) meetings, including the SCE’s priorities and work plan for 2017.
The APEC forum includes 21 members - Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US and Vietnam.
By the end of November 2016, the APEC member economies accounted for 39 percent of the world’s population and made up 59 percent of the world’s gross domestic product (GDP) and 48 percent of the global trade value.
Son said at SOM1, delegates will hear reports and recommendations that have come out of APEC committees and working group discussions, and exchange views on how to advance APEC’s agenda in the four priority areas to help APEC affirm its relevance and role as the premier regional economic forum.
The APEC 2017 SOM Chair expected that delegates will have an in-depth discussion on ways to promote the inclusiveness of APEC, to ensure that growth, globalisation and free and open trade and investment that APEC is championing will be beneficial to all people and do not leave anyone behind.
In the morning session, APEC 2017 SOM Chair Bui Thanh Son highlighted the priorities for APEC 2017 and briefed on the key outcomes of the Informal Senior Officials Meeting (ISOM) which was held in Hanoi last December.
The Chair of the Finance Senior Officials Meeting is to brief on the work of the Finance Ministers Process in 2017, including the outcomes of the Finance and Central Bank Deputies Meeting convened in Nha Trang city on February 23-24.
The Chair of the APEC Business Advisory Council (APAC) is scheduled to present the ABAC process and plans for 2017, including the outcomes of the ABAC-SOM Dialogue that was organised in Bangkok, Thailand, on February 21-22.
The Chair of the Economic Committee (EC) is to report on the outcomes of the EC’s first meeting, including the EC’s priorities for 2017, and the implementation of the IAPs under the Renewed APEC Agenda for Structural Reform (RAASR).
Also in the morning session, SOM1 is also expected to discuss how to ensure that growth benefits all, including improving social inclusion, promoting full and productive employment, economic empowerment of women, youth and people with disabilities.
In his opening speech, Vietnamese Permanent Deputy Foreign Minister, APEC 2017 SOM Chair Bui Thanh Son said despite some positive prediction, global and regional economic growth remains slow. Global trade is weak, and investment is subdued, while there are many uncertainties in the world.
Delegates to SOM1 are expected to hear the Committee on Trade and Investment (CTI) Chair’s report on the outcomes of its first meeting, including the CTI’s priority areas and work plan for 2017. They will discuss ways APEC can support the multilateral trading system (MTS) and contribute to the 11th World Trade Organisation (WTO) Ministerial Conference, as well as ways to further deepen regional economic integration (REI), including the acceleration of work to achieve the Bogor Goals in the next steps towards the eventual realisation of an Free Trade Area of the Asia-Pacific (FTAAP).
SOM1 is to deliberate progress in implementing the APEC Services Competitiveness Roadmap (ASCR), including the way forward on the reporting and monitoring of its implementation. SOM1 will also exchange views on initiatives to facilitate micro-, small- and medium-sized enterprises’ (MSMEs) greater participation in global value chains (GVCs), the business environment for MSMEs in the digital age, and the progress in the development of the Strategy on green and sustainable MSMEs.
APEC 2017 SOM Chair, Standing Vice Minister of Foreign Ministry Bui Thanh Son made speech at the conference
|
The delegates are scheduled to hear the SOM Steering Committee on Economic and Technical Cooperation (SCE) Chair’s report on SCE’s deliberations at SCE and SCE-COW (Committee of the Whole) meetings, including the SCE’s priorities and work plan for 2017.
The APEC forum includes 21 members - Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US and Vietnam.
By the end of November 2016, the APEC member economies accounted for 39 percent of the world’s population and made up 59 percent of the world’s gross domestic product (GDP) and 48 percent of the global trade value.
Son said at SOM1, delegates will hear reports and recommendations that have come out of APEC committees and working group discussions, and exchange views on how to advance APEC’s agenda in the four priority areas to help APEC affirm its relevance and role as the premier regional economic forum.
The APEC 2017 SOM Chair expected that delegates will have an in-depth discussion on ways to promote the inclusiveness of APEC, to ensure that growth, globalisation and free and open trade and investment that APEC is championing will be beneficial to all people and do not leave anyone behind.
In the morning session, APEC 2017 SOM Chair Bui Thanh Son highlighted the priorities for APEC 2017 and briefed on the key outcomes of the Informal Senior Officials Meeting (ISOM) which was held in Hanoi last December.
The Chair of the Finance Senior Officials Meeting is to brief on the work of the Finance Ministers Process in 2017, including the outcomes of the Finance and Central Bank Deputies Meeting convened in Nha Trang city on February 23-24.
The Chair of the APEC Business Advisory Council (APAC) is scheduled to present the ABAC process and plans for 2017, including the outcomes of the ABAC-SOM Dialogue that was organised in Bangkok, Thailand, on February 21-22.
The Chair of the Economic Committee (EC) is to report on the outcomes of the EC’s first meeting, including the EC’s priorities for 2017, and the implementation of the IAPs under the Renewed APEC Agenda for Structural Reform (RAASR).
Also in the morning session, SOM1 is also expected to discuss how to ensure that growth benefits all, including improving social inclusion, promoting full and productive employment, economic empowerment of women, youth and people with disabilities.
