Econ
Vietnam to make positive contributions to APEC 2017
The Asian Pacific Economic Cooperation (APEC) forum continues to be one of the most important cooperative venues for Vietnam, as its membership includes 13 out of Vietnam’s 25 strategic and comprehensive partners.
The country has become an active member and has made positive contributions to the forum since joining it in 1998, with one of the highlights being its hosting of the APEC Year 2006, during which the 14th summit passed the Hanoi Action Plan on implementing Bogor goals along with measures to improve cooperation effectiveness.
Vietnam is also among those members who proposed and participated in many new initiatives. The country took the lead in proposing and implementing over 100 projects across many fields like trade, investment, economic-technical cooperation, small- and medium-sized enterprises, emergencies response, health, food security and fighting terrorism.
Vietnam has also taken up many important positions in cooperation mechanisms of APEC. In 2016, Vietnam participated in building orientations for APEC’s long-term cooperation, while fulfilling its role as Chair or Co-Chair and Deputy Chair of some Committees and Working Groups.
The country chaired or co-chaired projects on developing support industry and sustainable tourism, responding to natural disasters, and connecting supply chains. Vietnam once again will host the APEC forum in 2017, which is a priority of the country’s external policy this year.
Vietnam will foster agricultural development, climate change adaptation, natural resources management and sustainable development in urban areas as well as ensure energy security and effective labour force.
Vietnam will work with financial ministers from APEC member economies to develop markets and provide financial assistance for private enterprises. It will focus on analysing benefits brought by trade liberalisation, and risks from the new US administration’s application of trade protection policy. They also predicted the future of Trans-Pacific Partnership (TPP) agreement.
According to Monica Hardy Whaley, Executive Director of the National Centre of Asia-Pacific Economic Cooperation (NCAPEC), APEC 2017 will bring many opportunities to Vietnamese enterprises to promote investment and trade links. The event will also offer a good chance for other APEC economies to learn from development experience of Vietnam – one of economies boasting the highest growth in the region.
