President Nguyen Xuan Phuc at the event (Photo: VNA) Bangkok (VNA) – President Nguyen XuanPhuc has asked committees and working groups of the Asia-Pacific EconomicCooperation (APEC) forum and APEC Business Advisory Council (ABAC) to enhance dialogues,actively realise the long-term vision for trade and investment in Asia-Pacific, andstrengthen multilateral trade system.
Speaking at a dialogue between leaders of APEC economiesand members of the ABAC in Bangkok on November 18, President Phuc affirmed thatVietnam supports multilateral trade system based on principles and rules, withthe World Trade Organisation (WTO) as the centre.
While a number of new bilateral and regionalmechanisms have been set up, the WTO is still considered a “foundational” multilateralcooperation mechanism that helps maintain stability and equality in internationaltrade and economic relations, contributing to the sustainable economicdevelopment in the world, he said.
The Vietnamese President called on APEC economies to accelerateimportant negotiations in the WTO on fisheries subsidies, agriculture and WTOreform.
Vietnam is ready to work closely with APECmembers to implement outcomes of the 12th WTO Ministerial Conference anddeal with issues that are yet to be agreed in the WTO, he said.
The President told the dialogue that as an openeconomy, Vietnam has signed and implemented 15 free trade agreements with over60 partners. It has also been working closely with APEC members to step upregional economic integration in line with 2040 APEC Vision.
Vietnam welcomes and is engaging in a number ofmultilateral initiatives on micro, small and medium-sized enterprises; tradeand economic empowerment for women. It is also studying more aboutother initiatives, he stated.
He suggested ABAC continue upholding its active role in APEC for an Asia-Pacific region of peace, sustainable development and prosperity for allcitizens.
The dialogue between APEC leaders and ABAC is an annual activity within theframework of the APEC Economic Leaders’ Week, enabling leaders to listen to suggestionsand opinions from with the regional business community.
In a report submitted to APEC leaders, ABAC proposed APEC take a comprehensiveapproach to and cooperate in environment and climate change, clean energytransition and digital transformation, regional economic linkage andintegration; and assist businesses in adaptation with and recovery from thepandemic.
Leaders vowed to consider the proposals of the business community during theprocess of building APEC cooperation orientations, as well as in specificpolicies of each economy in order to bring more practical results to citizensand business community./.
