APEC summit to focus on maintaining growth

Executive Director of APEC Secretariat Allan Bollard (Photo: apec2016.pe)

Singapore (VNA) – The upcoming APEC summit in Peru will focus on how to help its member economies maintain their growth rate amidst signs of slowdown and declining global trade, according to Executive Director of APEC Secretariat Allan Bollard.

Talking to Vietnam News Agency reporters in Singapore ahead of the 24 th summit of the Asia-Pacific Economic Cooperation (APEC) forum, Bollard said APEC leaders will also discuss in depth several specific issues including growth quality and initiatives to be carried out in the next year.

Regarding the Trans-Pacific Partnership (TPP) agreement, Bollard said it is not an initiative of APEC but rather one among APEC members.

Therefore, how to implement the deal will depend on its members, he said, adding that the members can hold meetings on the TPP on the sideline of the main events.

According to the director, APEC is interested in the idea of an Asia-Pacific free trade zone and is considering promoting the establishment of such a zone. He said when doing so, APEC will need to look into the lessons of the TPP and economic cooperation in the region.

Bollard affirmed that Vietnam has played an important role in many APEC activities and will host the APEC Summit in 2017.

He said he is looking forward to working with the Vietnamese Government on not only activities now underway but also the themes for APEC Year 2017, which are expected to focus on connectivity among regional economies, small enterprises’ access to regional markets, the development of services and infrastructure development, among others.

Vietnam has made good preparations for the 2017 APEC Summit, Bollard said, noting that the country is currently in a favourable position as it has signed many official cooperation agreements with APEC members.

He remarked that Vietnam has been well aware that APEC brings opportunities for its integration in the post-globalisation period.

The 24th APEC Summit is to take place in Lima, Peru, on November 19 and 20.-VNA