Politics

First APEC Senior Officials Meeting opens in Nha Trang

The first APEC Senior Officials Meeting (SOM1) kicked off in Nha Trang city, south central Khanh Hoa province, on March 2, with the attendance of delegates from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) Forum.
First APEC Senior Officials Meeting opens in Nha Trang ảnh 1APEC 2017 SOM Chair Bui Thanh Son (middle) (Photo: VNA)
Khanh Hoa (VNA) – The first APECSenior Officials Meeting (SOM1) kicked off in Nha Trang city, south centralKhanh Hoa province, on March 2, with the attendance of delegates from 21 membereconomies of the Asia-Pacific Economic Cooperation (APEC) Forum.

In his opening speech, Vietnamese PermanentDeputy Foreign Minister, APEC 2017 SOM Chair Bui Thanh Son said despite some positive prediction, global and regional economicgrowth remains slow. Global trade is weak, and investment is subdued, while thereare many uncertainties in the world.

But the Asia-Pacificregion remains the engine of economic growth and integration, and a pioneer inadvancing trade and investment liberalisation. “I believethat APEC has all the resources, potentials and capabilities to overcome thesechallenges, and turn them into impetus for further growth and development. As agrouping of dynamic economies, our region can and will continue to move aheadon the path of development and prosperity,” he stressed.

Son said at SOM1, delegates will hearreports and recommendations that have come out of APEC committees and working group discussions, and exchange views on how to advance APEC’s agendain the four priority areas to help APEC affirm its relevance and role as thepremier regional economic forum.

The APEC 2017 SOM Chair expected thatdelegates will have an in-depthdiscussion on ways to promote the inclusiveness of APEC, to ensure that growth,globalisation and free and open trade and investment that APEC ischampioning will be beneficial to all people and do not leave anyone behind.

In the morning session, APEC 2017 SOMChair Bui Thanh Son highlighted the priorities for APEC 2017 and briefed on thekey outcomes of the Informal Senior Officials Meeting (ISOM) which was held inHanoi last December.

The Chair of the Finance Senior OfficialsMeeting is to brief on the work of the Finance Ministers Process in 2017,including the outcomes of the Finance and Central Bank Deputies Meetingconvened in Nha Trang city on February 23-24.

The Chair of the APEC Business AdvisoryCouncil (APAC) is scheduled to present the ABAC process and plans for 2017,including the outcomes of the ABAC-SOM Dialogue that was organised in Bangkok, Thailand,on February 21-22.

The Chair of the Economic Committee (EC) isto report on the outcomes of the EC’s first meeting, including the EC’spriorities for 2017, and the implementation of the IAPs under the Renewed APECAgenda for Structural Reform (RAASR).

Also in the morning session, SOM1 is also expectedto discuss how to ensure that growth benefits all, including improving socialinclusion, promoting full and productive employment, economic empowerment ofwomen, youth and people with disabilities.-VNA

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