President Luong Cuong attends the 32nd APEC Summit.
This morning, at the Gyeongju International Convention Center (South Korea), following a solemn welcoming ceremony for APEC leaders, President Luong Cuong attended and delivered a speech at the first session of the APEC 2025 Leaders' Meeting.
Leaders and heads of delegations from 21 member economies, along with guests including the Crown Prince of Abu Dhabi (United Arab Emirates - UAE) and the Managing Director of the International Monetary Fund (IMF), attended the conference.
With the theme "Towards a Resilient, Connected, and Outreaching Region," the session discussed two major groups of issues: promoting trade and investment in the context of global uncertainty and strengthening public-private cooperation to unlock the potential of the private sector, aiming for inclusive and sustainable growth.
In his opening remarks, South Korean President Lee Jae Myung stated that this conference is an opportunity for leaders to engage in open and constructive exchanges aimed at promoting trade and investment, enhancing dialogue and mutual understanding, and working together towards the common goal of regional development and prosperity.
The conference extensively discussed initiatives and solutions to enhance the resilience of economies and promote international economic integration in response to common global challenges.
The leaders agreed on the need to leverage the role and potential of the private sector, create jobs, improve people's livelihoods, and enhance coordination and flexible management of fiscal and monetary policies to adapt to fluctuations in the global economy.
Expanding public-private dialogue and cooperation is a crucial and effective tool for mobilizing resources for common development goals, including promoting green investment, developing sustainable infrastructure, boosting digital trade, and enhancing the competitiveness of small and medium-sized enterprises.
APEC leaders and guests also emphasized the importance of inter-regional economic integration and connectivity; called for enhanced experience sharing and policy dialogue among regions; promoted trade and investment facilitation; and the development of safe, resilient, and sustainable supply chains.
Speaking at the conference, President Luong Cuong emphasized the urgent need to increase connectivity and enhance the resilience of APEC economies, especially developing economies, against external shocks and the adverse impacts of technology.
The President proposed three key areas that APEC should focus on: addressing major bottlenecks in the region's supply chains and infrastructure through efficient digitalization of customs clearance processes; upgrading and synchronizing transportation, logistics, and information technology infrastructure; harmonizing regulations on cross-border data and payments; and narrowing the technological gap between economies.
APEC economies need to promote trade and investment cooperation by making efforts to realize the Asia-Pacific Free Trade Agreement, implementing multilateral trade agreements of the World Trade Organization such as the Trade Facilitation Agreement, and reducing non-tariff barriers.
APEC needs to support the private sector, especially small and medium-sized enterprises (SMEs), in accessing capital, technology, and markets, and improving governance capacity to adapt and thrive in the digital age.
The President emphasized that in the context of macroeconomic instability, a solid microeconomic foundation plays a crucial role in long-term growth, and the development lessons of the region have also affirmed the very important role of the private sector.
The President stated that, as the host of APEC 2027, Vietnam will closely coordinate with economies within and outside APEC to strengthen economic linkages, promote green growth, and create a favorable environment for cooperation and development for a peaceful, stable, and prosperous Asia-Pacific region.
