Minister of Industry and Trade Vu Huy Hoang has affirmed Vietnam’s consistent policy towards regional and international economic integration at the APEC Ministerial Meeting in Surabaya , East Java, Indonesia on April 20-21.
Hoang, who led the Vietnamese delegation to the event, voiced Vietnam’s support for the World Trade Organisation and the resolve to soon conclude the Doha talks.
The minister emphasised the need for all APEC members to achieve the Bogor goals by 2020 through specific initiatives and the settlement of trade and investment barriers.
He said Vietnam gives priority to the contents of APEC cooperation regarding the connection of supply chains, support for small and medium-sized enterprises and infrastructure development.
Vietnam has made several proposals at the event such as creating favourable conditions for support industries, sharing experience in capital allocation for the development of renewable energies, which have received support of many APEC members.
The initiatives are part of the country’s efforts to boost trade and investment cooperation in the region and make the full use of APEC’s capacity enhancement programme for developing members.
On the sidelines of the event, the Vietnamese delegation attended a ministerial-level meeting of Trans-Pacific Partnership (TPP) economies, during which a roadmap was reached for negotiations in the coming time, including several ministerial-level rounds.
They also agreed to back Japan ’s joining the TPP, raising the total number of TPP economies to 12, which together make up 40 percent of the world GDP .
Hoang also held bilateral talks with ministers and heads of delegations of several economies, including Russia , the Customs Union of Russia, Belarus and Kazakhstan , the US , China , the Republic of Korea , Canada , New Zealand and Hong Kong .
The meetings aim to strengthen bilateral cooperation and handle economic, trade and industrial issues between Vietnam and the partners, as well as accelerating negotiations and implementation of FTAs among them.
The APEC Ministerial Meeting wrapped up with pledges to continue their back of the multilateral trade system within the framework of the World Trade Organisation (WTO), stepping up regional connectivity, pursuing Bogor goals and promoting sustainable and equal growth.
They adopted a joint statement, affirming their consensus on collective solutions to cope with challenges that may harm the regional economy.
A joint statement on enhancing the multilateral trade system through the ninth WTO Ministerial Conference in Bali was also issued at the event.
In closing the event, Indonesian Minister of Industry and Trade Gita Wirjiwan said APEC is being seen as a new momentum for global economic growth and an important forum that supports the trade system on the basis of openness, freedom and equality.
When the global economic growth contracted from 3.9 percent in 2011 to 3.2 percent in 2012, APEC’s GDP grew by 4.1 percent during the same period, he said.
The flow of foreign direct investment (FDI) into APEC member economies has increased, he said, noting that trade within APEC increased by 3.9 percent compared with a shrink of 1.9 percent for the rest of the world.
Last year, APEC exports raised by 2.6 percent to 8,700 billion USD at a time when many powers such as the US and the EU suffered serious impacts of the global financial and public debt crises, he said.
The APEC members include the current 11 TPP members — Australia , Brunei , Canada , Chile , Malaysia , Mexico , New Zealand , Peru , Singapore , the United States and Vietnam .
The others are Russia, China, the Republic of Korea, Japan, Taiwan, Hong Kong, Papua New Guinea, Indonesia, the Philippines and Thailand.-VNA
Hoang, who led the Vietnamese delegation to the event, voiced Vietnam’s support for the World Trade Organisation and the resolve to soon conclude the Doha talks.
The minister emphasised the need for all APEC members to achieve the Bogor goals by 2020 through specific initiatives and the settlement of trade and investment barriers.
He said Vietnam gives priority to the contents of APEC cooperation regarding the connection of supply chains, support for small and medium-sized enterprises and infrastructure development.
Vietnam has made several proposals at the event such as creating favourable conditions for support industries, sharing experience in capital allocation for the development of renewable energies, which have received support of many APEC members.
The initiatives are part of the country’s efforts to boost trade and investment cooperation in the region and make the full use of APEC’s capacity enhancement programme for developing members.
On the sidelines of the event, the Vietnamese delegation attended a ministerial-level meeting of Trans-Pacific Partnership (TPP) economies, during which a roadmap was reached for negotiations in the coming time, including several ministerial-level rounds.
They also agreed to back Japan ’s joining the TPP, raising the total number of TPP economies to 12, which together make up 40 percent of the world GDP .
Hoang also held bilateral talks with ministers and heads of delegations of several economies, including Russia , the Customs Union of Russia, Belarus and Kazakhstan , the US , China , the Republic of Korea , Canada , New Zealand and Hong Kong .
The meetings aim to strengthen bilateral cooperation and handle economic, trade and industrial issues between Vietnam and the partners, as well as accelerating negotiations and implementation of FTAs among them.
The APEC Ministerial Meeting wrapped up with pledges to continue their back of the multilateral trade system within the framework of the World Trade Organisation (WTO), stepping up regional connectivity, pursuing Bogor goals and promoting sustainable and equal growth.
They adopted a joint statement, affirming their consensus on collective solutions to cope with challenges that may harm the regional economy.
A joint statement on enhancing the multilateral trade system through the ninth WTO Ministerial Conference in Bali was also issued at the event.
In closing the event, Indonesian Minister of Industry and Trade Gita Wirjiwan said APEC is being seen as a new momentum for global economic growth and an important forum that supports the trade system on the basis of openness, freedom and equality.
When the global economic growth contracted from 3.9 percent in 2011 to 3.2 percent in 2012, APEC’s GDP grew by 4.1 percent during the same period, he said.
The flow of foreign direct investment (FDI) into APEC member economies has increased, he said, noting that trade within APEC increased by 3.9 percent compared with a shrink of 1.9 percent for the rest of the world.
Last year, APEC exports raised by 2.6 percent to 8,700 billion USD at a time when many powers such as the US and the EU suffered serious impacts of the global financial and public debt crises, he said.
The APEC members include the current 11 TPP members — Australia , Brunei , Canada , Chile , Malaysia , Mexico , New Zealand , Peru , Singapore , the United States and Vietnam .
The others are Russia, China, the Republic of Korea, Japan, Taiwan, Hong Kong, Papua New Guinea, Indonesia, the Philippines and Thailand.-VNA
