Vietnam will actively contribute to APEC 21 Conference

The 21st Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting will take place in Bali, Indonesia from October 6-8. President Truong Tan Sang will attend the meeting at the invitation of Indonesian President Susilo Bambang Yudhoyono.

On this occasion, Deputy Minister of Foreign Affairs Bui Thanh Son wrote an article about the 25-year cooperation process of APEC and Vietnam's participation to contribute to promoting APEC cooperation.

(Source: Apec.org.vn)

Nghe An Newspaper respectfully introduces the content of the article:

Established in November 1989 with 12 founding members, the Asia-Pacific Economic Cooperation (APEC) has now become the largest economic cooperation mechanism in the region, with 21 member economies, including 9 G20 countries, accounting for 59% of the population, 50% of the territory, more than 50% of GDP and 57% of global trade.

Together with other cooperation mechanisms such as the Association of Southeast Asian Nations (ASEAN), ASEAN with partners, the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP), Northeast Asia economic integration..., APEC is actively contributing to the process of building a multi-layered regional cooperation structure, maintaining the leading role of Asia-Pacific in the process of global economic growth and integration.

APEC and outstanding cooperation results over the past 25 years

The overarching goal that members have been striving to achieve over the years is to expand and strengthen regional economic integration, in the spirit of the Bogor Goals of promoting free and open trade and investment by 2010 for developed members and by 2020 for developing members.

With the principles of voluntary, flexible, consensual and joint development, efforts to implement the Bogor Goals have brought about very specific and meaningful results. From 1989 to 2010, trade between members increased nearly 5 times, from 1.7 trillion USD to 9.9 trillion USD, higher than the current intra-bloc trade of the European Union; the average tariff in the region decreased nearly 6 times, from 16.9% in 1989 to 5.8% in 2010; trade transaction costs also decreased significantly, through 2 cuts of 5% in 2006 and 2010.

APEC is the first multilateral cooperation forum to reach an agreement on the List of Environmental Goods, an issue that the WTO has been promoting for more than a decade, according to which 54 environmental products will have their tariffs reduced to below 5% by 2015. APEC members are also promoting economic integration through infrastructure connectivity, building reliable and transparent supply chains, towards the Asia-Pacific Free Trade Area.

Faced with increasing challenges of regional and global issues, from the three initial pillars of cooperation on liberalization, trade facilitation, investment and economic and technical cooperation, APEC has continuously expanded the scope of cooperation to meet development requirements in each period. Cooperation on human security and response to global challenges has become one of the priorities in APEC's agenda, including counter-terrorism, response to climate change, natural disasters and emergencies, addressing food-water-energy security challenges, educational cooperation, etc.

To cope with the global economic crisis, APEC has been promoting the shift to a green and sustainable growth model, enhancing regional connectivity, and actively implementing the new growth strategy with five connotations: balance, equality, sustainability, innovation and safety.

In recent years, in the context of slow recovery of the world economy, the gathering of forces and the trend of multi-level integration in the region are undergoing profound and rapid changes. More than ever, APEC continues to affirm its leading role, contributing to promoting the multilateral trade system and the dynamic development of Asia-Pacific.

Indonesia: From Bogor to Bali

From October 7 to 8, 2013, the 21st APEC Summit, the most important political event of the Forum this year, will take place in Bali, Indonesia, with the participation of leaders of 21 member economies. This is also an event that the region and the international community look forward to in the context of many fluctuations in the world political and economic situation and the continued stagnation of the Doha Round of negotiations.

With the theme “Resilient Asia-Pacific, Engine of Global Growth,” APEC this year focuses on three priorities: implementing the Bogor Goals, sustainable growth with equity, and enhancing connectivity. During this time, the 25th APEC Foreign and Economic Ministers Meeting and meetings between APEC leaders and hundreds of leading businesses in the region will also take place.

Following the success of the Bogor Summit in 1994, this is the second time that the country of thousands of beautiful islands, Indonesia, has been chosen to host APEC. This demonstrates the growing prestige and role of Indonesia and the ASEAN Community. Vietnam and other ASEAN members are working closely with Indonesia to make the 21st APEC Summit a great success, creating long-term imprints and visions for APEC cooperation in the coming decades.

Vietnam proactively and actively contributes to promoting APEC cooperation

Exactly 15 years ago, in November 1998, Vietnam became an official member of APEC. Over the past 15 years, Vietnam has always been an active and responsible member, making positive and effective contributions to APEC cooperation. Notably, we have successfully assumed the role of APEC Chair in 2006, successfully organized the 14th APEC Summit, the 18th APEC Foreign and Economic Ministers’ Meeting and more than 100 other large and small events.

The 14th Summit was successful in setting out a long-term vision towards building an Asia-Pacific Free Trade Area, the Hanoi Action Plan on implementing the Bogor Goals, and APEC's comprehensive reform measures... Vietnam also held many key positions in APEC such as Vice Chairman of the Trade and Investment Committee in 2006, Chairman of the Small and Medium Enterprises Working Group in 2006, Chairman of the Budget Management Committee in 2007, Vice Chairman of the Health Working Group for the 2009-2010 term, and Chairman of the Working Group on Emergency Response for the 2012-2013 term.

In 2014, Vietnam will host the 6th APEC Ministerial Meeting on Human Resources Development. Vietnam also seriously implements APEC's cooperation plans, programs and commitments; actively proposes and participates in more than 70 initiatives in the fields of economics, trade, investment, technology, health, anti-terrorism, etc.

Entering the second decade of the 21st century, implementing the policy of the 11th Party Congress and Resolution 22-NQ/TW of the Politburo on proactive and active international integration, Vietnam continues to consider APEC a focus in its open foreign policy, multilateralization and diversification of international relations. APEC is currently the largest direct investment region of Vietnam, accounting for about 65% of total foreign investment capital, 60% of export value, 80% of import value and 75% of international tourists to Vietnam. APEC is not only a forum that plays an important role in Vietnam's development in the fields of economy, foreign affairs and security, but also an effective channel for Vietnam to promote cooperation and deepen bilateral relations with members, including most of Vietnam's strategic partners and comprehensive partners.

With that important meaning, Vietnam will participate and actively contribute to the success of the 21st APEC Summit, for the dynamism, self-reliance and development of Asia-Pacific./.

According to VNA - LT