Vietnam calls for enhanced cooperation in APEC amid global challenges

Vietnamese Minister of Foreign Affairs Bui Thanh Son at the meeting. (Photo:VNA)

Bangkok (VNA) – 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.

Addressing the 33rd APEC Ministerial Meeting (AMM) in Bangkok, Son said the first priorities should be intensifying the resilience and competitiveness of the economies, ensuring a favourable environment for international trade and investment, and shifting towards the sustainable and inclusive growth model.

He, therefore, suggested accelerating the Enhanced APEC Agenda for Structural Reform to improve the business environment, spur growth, promote innovation and increase productivity.

The minister also proposed facilitating trade and investment links between the economies; improving transport and logistics connectivity; forging cooperation in climate change response, sustainable natural resources management, technological application in farming, and energy security; paying more attention to labour training, public health care, and support to micro, small and medium sized enterprises.

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

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

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

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

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

VNA