Vietnam offers commitments to beef up APEC co-operation

State President Tran Dai Quang reassured businesses that APEC leaders pay heed to their issues and are working towards implementing suitable solutions

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At this afternoon’s plenary dialogue between APEC leaders and the APEC Business Advisory Council (ABAC), State President Tran Dai Quang stated that issues of interest for the business community, such as regional economic connectivity, boosting flows of trade and investment, micro-, small-, and medium-sized enterprises (MSMEs), inclusive development, foodstuff security, and APEC’s post-2020 vision, also draw special attention from APEC leaders who are seeking suitable solutions.

Quang stated that APEC member economies committed to boost the implementation of the Bogor Goals, with a bigger focus on the sectors of services, investment, and non-tariff measures.

“APEC will also further increase the implementation of plans that were earlier adopted, especially the APEC Connectivity Blueprint, the Supply Chain Connectivity Framework, and a roadmap on services co-operation for the 2016-2025 period. APEC will also deal with emerging issues, such as cross-border e-commerce and the digital economy,” Quang said.

According to Quang, APEC leaders will discuss orientations for accelerating the completion of the Bogor Goals by 2020, strengthening multi-lateral trade systems, boosting regional trade pacts, and seeking to reach the Free Trade Area of the Asia-Pacific (FTAAP).

APEC leaders also shared the business community’s interest in increasing the participation of MSMEs in the global market, providing better access to financial packages for enterprises, and empowering women to engage in economic activities.

“The greater participation of enterprises in general and of women in particular serve as a new driving force to boost sustainable and inclusive growth,” the Vietnamese president said.

“We commit to create efficient policies and legal frameworks for a better business and investment climate for enterprises,” he continued.

APEC leaders have also asked their committees and agencies to devise long-term co-operation frameworks to boost the economic, financial and social inclusiveness, food security, energy security, and labour force competitiveness in the digital age. These issues are decisive factors to create inclusive, innovative, and sustainable growth.