The APEC Economic Leaders’ Week is running from November 12 until November 18

Hanoi (VNA) – This year has been significant for the Asia-Pacific Economic Cooperation (APEC) partnership, with the forum focusing on promoting regional and global economic integration.

The APEC Economic Leaders’ Week is running from November 12 until November 18, with eight major activities, including an APEC Senior Officials’ Meeting, a meeting of the APEC Business Advisory Council, the APEC Business Summit, and the 26th APEC Economic Leaders’ Meeting.

Prime Minister Nguyen Xuan Phuc will attend the 26th APEC Economic Leaders’ Meeting in Port Moresby, Papua New Guinea, from November 17-18 at the invitation of the host country’s Prime Minister Peter O’Neill.

APEC comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US and Vietnam.

Since its establishment in 1989, APEC has affirmed itself as a leading economic connectivity mechanism, taking a pioneering role in promoting economic, trade and investment facilitation in the region and the world, contributing to economic growth and the maintenance of peace, stability, cooperation and development in Asia-Pacific.

APEC cooperation focuses on three major pillars – trade and investment facilitation, business support and economic-technical cooperation.

The APEC Year 2018 is themed “Harnessing Inclusive Opportunities, Embracing the Digital Future”, with priorities of improving connectivity and deepening regional economic integration, promoting inclusive and sustainable growth, and strengthening inclusive growth through structural reform.

The year has a significant meaning to APEC in speeding up regional and global economic ties and preparing for the 30th founding anniversary of the forum in 2019.

In the year, APEC aims to implement important cooperation outcomes of 2017, especially in building the APEC post-2020 vision, promoting inclusive growth, developing human resources in the digital era, trans-border e-commerce, micro, small- and medium-sized enterprises and food security. The forum will also review long-term cooperation plans under structural forum roadmaps.

This year also marks 20 years of Vietnam joining APEC. The success of APEC Year 2018 and the development and integration achievements over the years have improved the status of Vietnam.

Vietnam has worked with Papua New Guinea and other APEC members to contribute to the implementation of APEC long-term cooperation plans, including those to speed up the completion of Bogor goals, conduct the APEC service competition roadmap and the new APEC agenda on structural reform.

Vietnam has also engaged in realising the APEC Year 2017 outcomes regarding inclusive growth, structural reform, micro, small- and medium-sized enterprises, startup, trans-border e-commerce, food security and climate change, rural and urban development, sub-regional connectivity and women’s economic empowerment.

The APEC Vision Group was formed in May 2018 by Vietnam, an important milestone for the forum to enter a new development period. A Vietnamese representative was elected as the Vice Chairperson of the group.

Vietnam has continued its pioneering and coordination role in the building of APEC post-2020 Vision with focus on the people and enterprises.

In 2018, Vietnamese ministries and sectors have optimised resources from APEC funds to implement 14 projects to improve capacity for public servants, small- and medium-sized enterprises, women and labourers in areas of trade negotiation, digital skills, healthcare and power. -VNA