Promoting economic connectivity in Asia-Pacific

Saturday, 2018-11-17 11:41:01
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NDO - As 2018 marks the 20th anniversary of Vietnam joining APEC, Prime Minister Nguyen Xuan Phuc’s attendance at the APEC Summit in Papua New Guinea aims to reaffirm Vietnam’s active and proactive contributions to APEC cooperation and development, thereby promoting peace, stability, cooperation and economic connectivity in the region.

Since its establishment in 1989, APEC has affirmed itself as a leading regional economic linkage mechanism, which initiates and takes the lead in promoting economic, trade and investment liberalisation in the region and around the world, making important contributions to economic growth and the maintenance of peace, stability, cooperation and development in Asia-Pacific.

With its three major pillars of cooperation, namely trade and investment liberalisation, trade facilitation, and economic and technical cooperation, the forum is a gathering place of the world’s major economic, trade and technological centres, operating on a cooperation and consensus, non-binding and voluntary basis.

Amid a rapidly and deeply changing world, under the influence of the fourth industrial revolution, APEC is pushing through the implementation of major strategies and cooperation programmes such as the APEC Strategy for Strengthening Quality Growth, the Renewed APEC Agenda for Structural Reform, the APEC Services Competitiveness Roadmap and the APEC Connectivity Blueprint in order to capitalise on opportunities and overcome any challenges.

The member economies are actively participating in discussions on building a vision for APEC after 2020 in order to help maintain the role of the region as a driver of global growth and economic connectivity, as well as enhancing the performance of the forum, with its activities more oriented towards the people and businesses.

The position and reputation of Vietnam have been enhanced with the successful hosting of the APEC Summit 2017 and the country’s economic growth and international integration achievements in recent years. In 2018, Vietnam has made use of the resources funded by APEC to implement 14 projects aimed at enhancing the capacity of public servants, small and medium-sized enterprises and women, making Vietnam one of the pioneering members in proposing and executing APEC initiatives this year. The APEC Vision Group was established in May 2018 based on the results of the APEC Summit 2017 in Da Nang. The APEC member economies highly value the establishment of the APEC Vision Group and Vietnam’s pioneering role, emphasising this as a significant milestone in preparing APEC for a new period.

2018 is an important year for APEC as the organisation continues to promote regional and global economic cooperation and connectivity towards the 30th anniversary of its establishment in 2019. Under the theme “Harnessing Inclusive Opportunities, Embracing the Digital Future, APEC’s 2018 priorities are improving connectivity and deepening regional economic integration, promoting inclusive and sustainable growth and strengthening economic growth through structural reforms.

As the group’s chair in 2018, Papua New Guinea has received the support of the APEC member economies. Vietnam continues to work with Papua New Guinea and other member economies and make active contributions to APEC’s long-term cooperation programmes, such as striving to achieve the Bogor Goals, implementing the Services Competitiveness Roadmap and the Renewed APEC Agenda for Structural Reform. Vietnam is also seeking to promote the implementation of important results of the APEC Year 2017 on inclusive development, structural reform, micro, small and medium enterprises, start-ups, cross-border e-commerce, food security and climate change, rural-urban development, connectivity in remote areas, subregional connectivity and women’s economic empowerment.

Vietnam’s APEC journey in the past 20 years has seen the country’s incessant efforts to promote economic cooperation and connectivity in the region. Prime Minister Nguyen Xuan Phuc’s attendance at the APEC Summit in Papua New Guinea once again reiterates Vietnam’s extensive and comprehensive international integration policy, affirming that Vietnam and other APEC member economies will continue to join hands in building an Asia-Pacific community of peace, stability, dynamism, creativity, engagement and sustainable development.

NHAN DAN
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