Hanoi (VNA) – State President Luong Cuong’s participation in the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Week in Gyeongju, the Republic of Korea (RoK) reflects Vietnam’s strong commitment to regional economic cooperation in the Asia-Pacific and its growing role in shaping the regional cooperation framework, especially in preparation for hosting APEC 2027.
The State leader’s trip, made at the invitation of Korean President Lee Jae Myung, will take place from October 29 to November 1.
APEC - vital regional economic cooperation forum
Founded in November 1989 in Canberra, Australia, APEC is a vital regional economic cooperation forum that includes 21 member economies, including the US, China, Japan, and emerging markets like Vietnam.
Representing around 37% of the global population, APEC contributes 61% of global GDP and 50% of global trade. The forum emphasises trade liberalisation, business facilitation, and economic-technical cooperation, operating on principles of consensus, voluntarism and non-binding commitments. Its initiatives focus on increasing cooperation across sectors such as trade, digital transformation, and sustainable growth.
APEC’s activities have driven economic growth and regional stability for over three decades. As the world undergoes rapid transformation driven by the Fourth Industrial Revolution, APEC is preparing for a new phase of development. In 2020, APEC leaders adopted the APEC Vision 2040, aiming to build a Pacific-Asia region that is open, dynamic, self-reliant, and peaceful. The vision reaffirms APEC’s commitment to voluntary cooperation, consensus, and non-binding agreements, with a foundation of mutual respect, shared responsibility, and common benefit.
APEC is currently rolling out strategic plans and major cooperation programmes, including strengthening structural reforms (2026-2030); roadmap for services competition (2026-2035); food security roadmap (2030); inclusive development agenda for economic, financial, and social growth (2030); La Serena Roadmap for Women and Inclusive Growth (2030); and Phase 3 Action Plan for APEC Supply Chain Connectivity Framework (2022-2026)
These initiatives reflect APEC's evolving role in adapting to new global challenges while continuing to drive sustainable and inclusive growth.
Vietnam – active, responsible member of APEC
Vietnam officially joined APEC in 1998 and has since made significant contributions. The country has hosted APEC meetings twice (2006 and 2017), launched over 190 initiatives on various issues like structural reform, human resources development, climate change response, empowerment of women. rural and urban development, food security and e-commerce. It has actively engaged in shaping APEC’s long-term vision. Vietnam is also preparing to host APEC 2027, with Phu Quoc special zone in the Mekong Delta province of An Giang selected as a key venue for the event.
The 2025 APEC Leaders’ Week will be held under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper”. The RoK, the host country, has emphasised initiatives related to Artificial Intelligence (AI), demographic shifts, and cultural industry cooperation. The summit will be a critical platform for leaders to discuss pressing economic challenges, promote sustainable development, and foster innovation in the region.
According to Vietnamese Ambassador to the RoK Vu Ho, Vietnam’s active participation in the event is not only a demonstration of its commitment to regional economic integration but also an opportunity to further its leadership role in shaping APEC’s future direction.
As Vietnam aims to host APEC 2027, this summit will also promote the country’s dynamic and growing position within APEC, showcasing its strategic partnerships with key economies such as the US, Japan, and the RoK.
Vietnam has made notable strides in international integration, having signed several modern free trade agreements (FTAs) like CPTPP, EVFTA, and RCEP. These efforts have enhanced its trade and investment ties with APEC economies, boosting its regional influence.
APEC 2025 in the RoK represents a key moment for Vietnam to contribute significantly to the region's efforts toward sustainable growth and prosperity, particularly in areas that benefit both people and businesses across the Asia-Pacific./.
