Hanoi (VNA) – Representatives from APEC member economies gathered at asymposium in Hanoi on May 19 to share experience in promoting trade andinnovation and explore activities that APEC can undertake to boost innovativegrowth in the region.

The APEC Symposium on Trade and Innovation is held as part of the APECMinisters Responsible for Trade (MRT) Meeting.

In hisopening remarks, Minister of Industry and Trade Tran Tuan Anh highlighted that trade,among other important enablers, plays a very essential role in determining oneeconomy’s innovation policy and strategies.

In return, innovation in general and innovation commercialisation in particularcontribute to promoting trade among economies, which reflects an intertwinedand reciprocal relation between trade and innovation, he said.

“Being aware of both opportunities and challenges that innovation resultsin, APEC member economies have made great efforts in pursuing innovation tofoster sustainable and innovative growth,” according to the minister.

He cited that in 2014, APEC Leaders declared the APEC Accord on InnovativeDevelopment, Economic Reform and Growth that underscores innovative developmentthrough promoting cooperation in science and innovation; facilitate voluntarytransfer, dissemination and commercialisation of technology; promote the useand commercialisation of intellectual property and ensure IPR protection andenforcement; and improve the environment for innovation.

Also, the 2015 APEC Strategy for Strengthening Quality Growth reiteratesinnovation as one of most important drivers of economic growth in the APECregion, he added. 

So as to make this a reality, economies need tofacilitate freer flows of capital, people, ideas, technologies, goods, andservices across borders in ways that promote competition, he noted.

Afrom wise approaches to trade and investment, it is also important forgovernments to embrace critical core innovation principles to lay the tracksfor businesses to run on, he said, adding based on the sound policies,businesses can harness all their capability and sources to foster innovationand develop. 

During the event, delegateswill share their experience and insights into the importance and impacts oftrade and investment in promoting innovation through various means.

They arescheduled to discuss the roles of trade policies in creating an environmentthat enable innovation and other enablers of innovation such as financialmarkets, education systems, effective policies for research and development,efficient, science-based and international harmonised regulatory systems, andprotection of intellectual property rights, and taxation.

Therewill be a dialogue between trade ministers and the business community on howtrade and other policies can be used to help provide the enabling conditionsfor innovation, and how governments can help promote the commercialisation ofinnovation in APEC economies, especially developing ones.

Thewinners of the MSME (Micro, Small and Medium Enterprises) App Challenge will beannounced at the symposium. 

Thecontest involved software developers from APEC economies, over the course of 24hours (from May 18), building a mobile site or app that helps MSMEs andhousehold export using the internet.-VNA