Vietnam calls for initiatives to ensure efficient functioning of APEC supply chains

Asia-Pacific Economic Cooperation (APEC) economies needs to continue promoting free and open trade and investment, undertake initiatives to ensure regional supply chains to function smoothly and efficiently, and facilitate the movements of essential goods, Minister of Trade and Industry Nguyen Hong Dien has said.
Vietnam calls for initiatives to ensure efficient functioning of APEC supply chains ảnh 1Minister of Trade and Industry Nguyen Hong Dien speaks at the virtual APEC Ministers Responsible for Trade Meeting on June 5. (Photo: VNA)
Hanoi (VNA) – Asia-Pacific Economic Cooperation(APEC) economies needs to continue promoting free and open trade andinvestment, undertake initiatives to ensure regional supply chains to functionsmoothly and efficiently, and facilitate the movements of essential goods,Minister of Trade and Industry Nguyen Hong Dien has said.

He made the statement at the virtual APEC MinistersResponsible for Trade (MRT) Meeting chaired by Damien O’Connor, New Zealand’sMinister for Trade and Export Growth, on June 5. The meeting focused on tradeand investment’s role in ensuring widespread and equitable access to COVID-19vaccines and essential goods, and how to prevent disruption of global supplychains.

To gain positive economic growth and social stability,APEC economies should stay united and determined to maintain free and opentrade and investment, strengthen regional economic integration, and enhanceAPEC’s leading role in Asia-Pacific, Dien said.

He urged the APEC member economies to focus discussionson finalizing an action plan for the APEC Putrajaya Vision 2040 this year,which would lay basis for intra-bloc cooperation over the next two decades.

As COVID-19-induced social distancing rules and travelrestrictions remain in place in many economies, e-commerce and digitaltransformation play an increasingly important part in economic development anddaily life. The Vietnamese minister proposed APEC to bolster collaboration ininnovation, digital trade and the Internet; ensure effective digitalinfrastructure and connectivity; building digital capability for its businessesand workforce, particularly disadvantaged groups such as women and people withdisabilities.

Vietnam calls for initiatives to ensure efficient functioning of APEC supply chains ảnh 2Damien O’Connor, New Zealand’s Minister for Trade and Export Growth, chairs the 27th APEC Ministers Responsible for Trade Meeting on June 5. (Photo: VNA)
He singled out the pressing issue of COVID-19 vaccineproduction and distribution, which is considered the most effective way toprotect the community’s well-being. Vietnam supports cooperation within APECthat ensures safe, effective, fair and timely production and supply of COVID-19vaccines; minimise intellectual property barriers to COVID-19 vaccines; andfoster information exchange and technology transfer for the vaccine production,he said.

In that spirit, he continued, Vietnam backed the adoptionof a APEC MRT Statement on COVID-19 Vaccine Supply Chains.

He further noted that Vietnam is ready to cooperate withother APEC economies in addressing challenges posed by the pandemic anddeveloping a post-pandemic economic recovery plan that provides supports foraffected enterprises and maintain social welfare./.
VNA

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