The Asia-Pacific Economic Cooperation (APEC) forum has made important contributions to Vietnam’s integration efforts since the country was admitted more than a decade ago. Deputy Prime Minister and Foreign Minister Pham Gia Khiem made the remark in a written statement in anticipation with APEC’s 20th founding anniversary and the upcoming 17th APEC Summit in Singapore.

APEC has brought practical economic, political and cultural benefits to Vietnam, the leader went on to say, through multilateral cooperation models and has proven itself an effective channel for the country to boost its relations with other member economies.

He affirmed that Vietnam has proactively taken part in and contributed to many APEC activities with a high sense of responsibility, which has, in return, helped heighten Vietnam ’s prestige and stature in the international arena.

Vietnam’s most outstanding achievement to the forum was its hosting of APEC in 2006, which was highly praised by the forum members as a success and an important transitional event in the reform of APEC, Khiem said.

He also cited the country’s organisation of over 100 big and small events for the forum as an indication that Vietnam’s international profile has been growing and that the country has won the trust and respect of nations around the world.

Throughout more than a decade, Vietnam has enthusiastically joined in the forum’s various cooperation programmes, including CAPs, SCSC, ECOTECH, and ABTC, contributing to strengthening friendship, cooperation and mutual understanding among member economies, and promoting the sharing of experiences in using aid, developing infrastructure, and transferring technology, Khiem said.

In 2009, APEC member economies reviewed and evaluated policies adopted by Vietnam relating to its opening of its market and facilitation of trade and investment based on the country’s Individual Action Plan.

Since its inception in November 1989, APEC has worked to fulfil the aspirations of regional economies by creating a cooperation mechanism capable of seizing opportunities, responding to new challenges arising from changes in the world and the region, speeding up liberalisation and facilitating investment and trade, and promoting the growth and sustainable development of member economies.

From an initial membership of 12 economies, APEC has today expanded to include 21 economies in various stages of development, encompassing developed economies like the US, Japan, Canada and the Republic of Korea, and emerging economies like China, Russia and Vietnam.

APEC cooperation, grounded on the three main pillars – liberalisation, facilitation of trade and investment and economic and technical cooperation – has achieved great successes, and APEC itself has grown into an important trans-regional forum connecting many dynamic economies and contributing to advancing prosperity and sustainable development in the region and across the globe.

Contributing 60 percent of the world’s GDP, 50 percent of its global trade and 70 percent of its growth, APEC has been identified as the most capable driving force providing impetus for the recovery of the global economy in the post-crisis period.

Vietnam’s State President Nguyen Minh Triet will attend the 17th Summit of APEC which will take place in Singapore on November 14-15.

Triet is expected to work with other APEC leaders on specific measures to help member economies continue to maintain sustainable and comprehensive growth and to further APEC cooperation in the coming time./.