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Viet Nam
Nov 13, 2017 / 11:55

Visions to elevate cooperation between Vietnam and APEC member economies

Ngoc Thuy

A new vision in bilateral and multilateral cooperation between Vietnam and APEC member economies has been established after the successful APEC Economic Leaders’ Week in Danang.

Following APEC’s conclusion in Danang, Vietnam has welcomed 4 leaders of the APEC member economies for state visits in just a week. Currently, the General Secretary of the China’s Communist Party and President Xi Jinping is in Vietnam for his first overseas trip, after he was re-elected as the General Secretary at the 19th National Congress of the Communist Party of China last month. As such, this trip has an important meaning to the Comprehensive Strategic Cooperative Partnership between Vietnam – China. 
 
General Secretary of the Vietnam Communist Party Nguyen Phu Trong (L) and General Secretary of the Communist Party of China and President Xi Jinping at the reception (Photo: VNA)
General Secretary of the Vietnam Communist Party Nguyen Phu Trong (L) and General Secretary of the Communist Party of China and President Xi Jinping at the reception.
Previously, the President of the United States Donald Trump concluded his two days’ visit to Vietnam on November 11 – 12. As this is the first time a U.S President chose to visit Vietnam in his first term, once again, the visit has showed the importance in the Comprehensive Partnership between the U.S and Vietnam. Moreover, Vietnam was also Mr. Trump’s first destination in South East Asia for state visit, not to mention state visits to Vietnam of the Canadian Prime Minister Justin Trudeau and the Chilean President Michelle Bachelet. 

On the other hand, the successful of the APEC Economic Leaders’ Week in Danang has once again showing the capabilities of Vietnam being the host for an important event, 11 years after its first hosting of APEC 2006, in advancing the APEC process built on the vision and work of previous APEC hosts. With this being said, all of these have brought new vision and new height in bilateral and multilateral cooperation between Vietnam and APEC member economies. With regard to the U.S and China, two largest economies in APEC, expectation is even higher. As through recent times, despite the Comprehensive Strategic Cooperative Partnership between Vietnam – China and the Comprehensive Partnership between the U.S – Vietnam have been on positive trend, as both China and the U.S are leading trade and investment partners of Vietnam, but the bilateral trade and investment between Vietnam and China, as well as Vietnam and the U.S are not up to the potential and advantages of the two major economies in the world, which need to be improved in the future.
 
The Vietnamese President Tran Dai Quang hosted state dinner to welcome the U.S President Donald Trump first state visit to Vietnam.
The Vietnamese President Tran Dai Quang hosted state dinner to welcome the U.S President Donald Trump first state visit to Vietnam.
With new doors opened for continued cooperation, right before the state visit to Vietnam, the General Secretary of the China’s Communist Party and President Xi Jinping has mentioned “a new height in reliable strategy”, as well as “deepened cooperation” between Vietnam and China. The President of the U.S also stressed the relation between two countries are now friend and reliable partners. In all high level meetings, leaders of Vietnam, China and the U.S all stated the necessity for continued improving and deepening the cooperative relation between countries, including economic cooperation; as well as enhancing multilateral cooperation, with a view to make APEC more open and inclusive. 

The presence of leaders of major economies in Vietnam also led to a number of leading corporation in the world from the U.S and China coming to Vietnam. It is expected that there will be a new wave in cooperation and investment between Vietnam and APEC member economies. 

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