APEC Economic Leaders' Meeting concluded with milestone achivements

The APEC Economic Leaders' Meeting has been closed with a long line of successful initiatives agreed on

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Vietnamese State President Tran Dai Quang stated at the press conference on the 25^th APEC Economic Leaders’ Meeting that it lived up to the theme of “CreatingNew Dynamism, Fostering a Shared Future” and has been quite successful.

“The meeting has adopted the Danang Declaration, which is the most important outcome of the APEC Economic Leaders' Week and the APEC 2017,” he stressed.

He stated that APEC leaders agreed to continue facilitating trade, investment, and services, while strengthening economic co-operation.

“Efforts must be made to establish the Free Trade Area of the Asia-Pacific (FTAAP),” President Quang said. “The APEC is also making efforts to accomplish the Bogor Goals and embark upon the fourth development decade.”

“In order to further enhance the role and status of the APEC, we welcome the establishment of the APEC Vision Group in order to support senior officials in determining the organisation’s orientations and future after 2020,” he said. “This is a resilient forum able to deal with global challenges and be highly adaptable in face of the changing world. This also mirrors the strong determination of the member economies to construct a peaceful, stable, dynamic, united, and prosperous Asia-Pacific community, where people and enterprises are considered the most important.”

This morning, the 25th APEC Economic Leaders’ Meeting was kicked off under the chairmanship of Vietnamese President Tran Dai Quang. The meeting saw the participation of APEC Economic Leaders and heads of delegation. Christine Lagarde, managing director of the International Monetary Fund, also participated in the opening session as a guest.

Quang stressed that over the past 25 years, the world and the region have undergone profound changes in economic and international relations, as well as the balance of power. “However, with the strategic vision to promote economic co-operation as the foundation of the APEC and a focus on removing barriers to trade and investment, we can be happy with what we have achieved so far.”

The APEC has shown its dynamism, adaptability, and capacity to transform to become the premier regional economic forum and a driver of global growth and integration. It has also played a leading role in addressing urgent global challenges.

The Bogor Goals of free and open trade and investment, supporting the multilateral trade system, as well as the growth and connectivity strategies and programmes, have provided long-term orientations for the APEC’s activities and unfolded hundreds of concrete areas of co-operation, including the next generation of trade and investment issues as well as responding to the new demands of the digital era.

On the regional and global landscape, President Quang stated that within the past year, the world has witnessed changes more rapid and complex than expected. Security and political stability has been compromised. Exactly 10 years after the global economic and financial crisis, the world economy is recovering and continues to adjust itself in face of profound changes.

Yet, regional economic integration has been impeded by global uncertainties affecting free and open trade. The Fourth Industrial Revolution has created unprecedented opportunities for development and innovation. The historic global agreements, especially the 2030 Agenda for Sustainable Development, have set the long-term directions for international co-operation on sustainable development.

“This requires the APEC to uphold its leadership in finding new drivers for growth, trade, investment, connectivity and ensure that benefits from globalisation and economic integration are equally distributed. Only by doing so can we contribute to a peaceful, stable, dynamic, interconnected, and prosperous Asia-Pacific,” stated the Vietnamese president.