Politics

Vietnam calls for enhanced cooperation in APEC amid global challenges

Vietnamese Minister of Foreign Affairs Bui Thanh Son on November 17 stressed the need to enhance cooperation among member economies of the Asia-Pacific Economic Cooperation (APEC), especially in the context of the global economy facing various risks and challenges.
Vietnam calls for enhanced cooperation in APEC amid global challenges ảnh 1Vietnamese Minister of Foreign Affairs Bui Thanh Son at the meeting. (Photo:VNA)
Bangkok (VNA) – Vietnamese Minister ofForeign Affairs Bui Thanh Son on November 17 stressed the need to enhancecooperation among member economies of the Asia-Pacific Economic Cooperation(APEC), especially in the context of the global economy facing various risksand challenges.

Addressing the 33rd APEC Ministerial Meeting (AMM) inBangkok, Son said the first priorities should be intensifying the resilienceand competitiveness of the economies, ensuring a favourable environment forinternational trade and investment, and shifting towards the sustainable andinclusive growth model.

He, therefore, suggested accelerating the EnhancedAPEC Agenda for Structural Reform to improve the business environment, spurgrowth, promote innovation and increase productivity.

The minister also proposed facilitating trade andinvestment links between the economies; improving transport and logisticsconnectivity; forging cooperation in climate change response, sustainable naturalresources management, technological application in farming, and energysecurity; paying more attention to labour training, public health care, and supportto micro, small and medium sized enterprises.

Son said it is necessary for the economies' coordination to pool resources in service of infrastructure development, especially indeveloping economies, and draw lessons from the COVID-19 pandemic to minimisedisruptions in people's travelling as well as operations of regional supplychains.

Present at the meeting, Deputy Minister of Industryand Trade Tran Quoc Khanh noted some key issues in the APEC cooperation to ensureopen trade and investment, and sustainable development in 2022.

He said the economies should step up capacity-buildingactivities and information sharing to help developing peers bolster cooperationand narrow gaps, towards the materialisation of the Free Trade Area of Asia-Pacific.

APEC needs to prioritise support to businesses andpeople in accessing new, cutting-edge technologies in order to raise their competitivenessin the digital ecosystem, thus promoting digital transformation in the region, he noted.

The conference reviewed the implementation of theAotearoa Plan of Action towards the Putrajaya Vision 2040, and featured in-depthdiscussions on balanced, sustainable and inclusive growth and regional reconnection,among others./.
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