Vietnam champions APEC values

Vietnam’s State President Truong Tan Sang urged APEC businesses to promote their social responsibility       Photo: VNA

Established in November, 1989 at a ministerial-level meeting in Australia’s capital Canberra by 12 member economies, APEC has become bigger with 21 member economies including nine economies belonging to the G20.

APEC occupies 59, 50, over 50 and 57 per cent of the world’s population, territory, gross domestic product (GDP) and trade volume, respectively.

APEC has actively hoisted trade and investment liberalisation and facilitation, such as the Bogo Declaration issued in 1994. Under this declaration, trade and investment liberalisation is boosted by developed economies in 2010 and by developing economies in 2020.

After nearly 20 years, the average tariff level of member economies was pruned from 16.9 per cent in 1989 to 6.6 per cent in 2008, lower than the average 10.4 per cent level of the World Trade Organization’s member economies. The regional trade transaction cost has also reduced remarkably, with two, 5 per cent reductions in 2006 and 2010. APEC member economies’ economic links have also been increasingly cemented.

In recent years, for boosted sustainable development, APEC cooperation has been expanded to many other new sectors like climate change, energy and food security, water resources, education and enhancement of women’s role in socio-economic development. APEC is currently implementing its new growth strategy, with five comprehensive areas of balance, uniformity, stableness, renewal and safety.

APEC was organised for the first time in Russia this year. More than 700 leading companies from the region converged in Vladivostok to discuss with leaders  about solutions to global emerging challenges. Ministers of foreign and economic affairs also actively worked to lift APEC cooperation in all fields.

The “Integrate to Grow, Innovate to Prosper”-themed 20th APEC’s activities will send a strong message about APEC’s determination in contributing to the world’s growth and prosperity.

Russian friends were doing their best to welcome leaders and friends from all member economies to create a new stamp in APEC cooperation. The stamp will surely be an orientation for APEC to reap more successes.

Vietnam’s active contributions to APEC cooperation

In November 1998, Vietnam became an official APEC member, a milestone in the country’s diplomatic policy and international integration. Vietnam’s joining APEC reflects the strategic vision of its Party and government.

APEC is an important forum, bringing strategic and practical benefits, both economically and politically, to Vietnam. It is the place where Vietnam can enhance its role and ameliorate its status and image internationally as a developing and dynamic nation which is active in international economic integration. APEC is also an effective channel for Vietnam to intensify its bilateral cooperation with the forum’s member economies, including some top strategic partners.

During its 14 years in APEC, Vietnam has been an active and responsible member, with its most salient success in chairing the 14th APEC Summit in November, 2006 with over 100 events organised. The Hanoi Action plan to implement the APEC’s Bogo Target and overall reformatory measures adopted in this summit have greatly contributed to making new impetuses for APEC.

Moreover, Vietnam has also taken the initiative in proposing and hosting over 70 initiatives and activities in almost all sectors, from commerce, investment and economic-technical cooperation to emergency preparedness, healthcare and anti-terrorism.

One of Vietnam’s most outstanding things in 2012 is that it has been for the first time assigned by APEC members to be the co-chair of APEC Task Force for Emergency Preparedness. Vietnam has successfully organised some APEC activities, including the 45th APEC Information and Communications Task Force in central Danang city, the 3rd APEC Air Cargo Security Workshop and APEC Business Advisory Council Meeting in Ho Chi Minh City. At the same time, Vietnam has also actively boosted APEC’s prioritised areas suitable to its interests, like economic links, food security, water resources security, coping with natural calamities and sustainably protecting sea resources.

With the success of the 11th National Congress of the Communist Party of Vietnam, the country is embarking on a new strategic development stage, which is to continue its comprehensive renewal, economic restructuring and active international integration.

The Asia-Pacific and APEC are increasingly important to Vietnam. It is because this region closely pertains to the country’s development in all areas, like economy, foreign affairs, security and development. Along with these things and the comprehensive strategic partnership with Russia which is hosting the 20th APEC, Vietnam has been doing its utmost, together with Russian friends and other APEC members, to positively contribute to the success of this year’s APEC Summit, for the sake of peace, cooperation, development and prosperity in the Asia-Pacific region.