PM Nguyen Xuan Phuc delivers opening remarks at MRT 23 Hanoi (VNA) – The 23rd Meeting ofMinisters Responsible for Trade (MRT 23) of the Asia-Pacific EconomicCooperation (APEC) Forum officially opened at the National Convention Centre inHanoi on May 20 in the presence of Vietnamese Prime Minister Nguyen Xuan Phuc.
As one of the most prominentministerial meetings in APEC’s framework, MRT 23 also saw the participation ofministers responsible for trade and senior officials from 21 APEC membereconomies as well as Director-General of the World Trade Organisation (WTO)Roberto Azevedo.
In his opening remarks, PMNguyen Xuan Phuc said sinceits inception in 1989, APEC has always been an important economic driver andgrowth engine of the Asia-Pacific region and the world. APEC has a combined populationof more than 2.8 billion people, approximately 40 percent of the world population.After nearly three decades, APEC member economies have strongly expanded,accounting for approximated 60 percent of the world GDP and 49 percent of theglobal trade. The regional average tariff has been reduced from 11 percent in1996 to 5.5 percent in 2016. Income and living standards have been improved fora large proportion of the population in the region.
These outcomes have provided testament to the effortsof the region for trade liberalisation, trade and investment facilitation aswell as the shared regional stability, development and prosperity, he noted.
However, PM Phuc said, the Asia-Pacific region iswitnessing multiple changes in politics, economy and technology. The IndustrialRevolution 4.0 as well as the emergence of the digital economy has strongimpacts on the lives of citizens from all walks of life. Never before has theworld been so interconnected on such a profound level. Advanced technologies havegenerated many opportunities, but at the same time, brought about substantialeconomic, cultural and social challenges.
The PM went on to say that APEC is aiming for a trulyconnected Asia-Pacific in terms of the people, infrastructure, technology andinformation in order to facilitate economic growth, trade and investment,comprehensive institutional reform in each and every member economy. Moreover, APECcooperation programmes on enhancing connectivity, developing value chains, connectingsupply chains, supporting the business community in general and Micro-, Small-and Medium-Sized Enterprises (MSMEs) in particular, among others, havecontributed significantly to the development and prosperity of the Asia-Pacificregion.
“Characterised by its member economies’ differences interms of development levels as well as diversity in culture, politicalinstitutions, and development policy, APEC should step up economic andtechnical cooperation, experience and information sharing during the process ofpolicy-making and implementation of cooperation programs to enhance theeffectiveness and distinguish APEC cooperation from that of the otherorganizations and forums in the region and the world. We also need to expandcooperation with other regions to ensure increased connectivity and developmentfor all,” he suggested.
However, cooperation plansand their fine goals might still fail to turn into reality when we lack trust,political determination and coordination to safeguard a peaceful environment,ensure security and safety for investment, and the flows of goods in theregion, PM Phuc added.
The government leader told participantsthat Vietnam officially joined APEC in 1998. And since then, APEC has played anincreasingly important role in the economic development of Vietnam. As oftoday, APEC member economies have contributed about 78 percent of the total FDIinflows to Vietnam, 75 percent of the total merchandise trade and 79 percent ofthe total number of tourists to the country. About 80 percent of Vietnamesestudents are studying in APEC member economies. Thirteen APEC members havebecome Vietnam’s strategic and comprehensive partners.
“With its strong determinationand efforts to deepen reform and international integration, Vietnam has madesignificant contributions to APEC’s cooperation. Last time, Vietnam hosted APECin 2006, eleven years ago. And now, we have the great honour to be host of APECYear again with a view to enhancing cooperation with other regional economies fora peaceful, stable, connected and prosperous Asia-Pacific community,” hestressed.
PM Phuc expressed his hopethat MRT 23 would have fruitful and productive discussions to review the implementationof APEC 2017 priorities programmes and approve member economies’ initiatives toreport to the APEC Economic Leaders’ Meeting in November 2017 in order to steer the APECship towards a brighter and more prosperous future for every citizen in theregion.
During the course of thetwo-day meeting, delegates from the APEC member economies are scheduled tofocus discussions on the themes of fostering sustainable,inclusive and innovative growth and strengthening MSMEs’ competitiveness andinnovation; supportingthe multilateral trading system (MTS) and the WTO; deepening regional economicintegration; and towardan APEC Post-2020Vision.-VNA
As one of the most prominentministerial meetings in APEC’s framework, MRT 23 also saw the participation ofministers responsible for trade and senior officials from 21 APEC membereconomies as well as Director-General of the World Trade Organisation (WTO)Roberto Azevedo.
In his opening remarks, PMNguyen Xuan Phuc said sinceits inception in 1989, APEC has always been an important economic driver andgrowth engine of the Asia-Pacific region and the world. APEC has a combined populationof more than 2.8 billion people, approximately 40 percent of the world population.After nearly three decades, APEC member economies have strongly expanded,accounting for approximated 60 percent of the world GDP and 49 percent of theglobal trade. The regional average tariff has been reduced from 11 percent in1996 to 5.5 percent in 2016. Income and living standards have been improved fora large proportion of the population in the region.
These outcomes have provided testament to the effortsof the region for trade liberalisation, trade and investment facilitation aswell as the shared regional stability, development and prosperity, he noted.
However, PM Phuc said, the Asia-Pacific region iswitnessing multiple changes in politics, economy and technology. The IndustrialRevolution 4.0 as well as the emergence of the digital economy has strongimpacts on the lives of citizens from all walks of life. Never before has theworld been so interconnected on such a profound level. Advanced technologies havegenerated many opportunities, but at the same time, brought about substantialeconomic, cultural and social challenges.
The PM went on to say that APEC is aiming for a trulyconnected Asia-Pacific in terms of the people, infrastructure, technology andinformation in order to facilitate economic growth, trade and investment,comprehensive institutional reform in each and every member economy. Moreover, APECcooperation programmes on enhancing connectivity, developing value chains, connectingsupply chains, supporting the business community in general and Micro-, Small-and Medium-Sized Enterprises (MSMEs) in particular, among others, havecontributed significantly to the development and prosperity of the Asia-Pacificregion.
“Characterised by its member economies’ differences interms of development levels as well as diversity in culture, politicalinstitutions, and development policy, APEC should step up economic andtechnical cooperation, experience and information sharing during the process ofpolicy-making and implementation of cooperation programs to enhance theeffectiveness and distinguish APEC cooperation from that of the otherorganizations and forums in the region and the world. We also need to expandcooperation with other regions to ensure increased connectivity and developmentfor all,” he suggested.
However, cooperation plansand their fine goals might still fail to turn into reality when we lack trust,political determination and coordination to safeguard a peaceful environment,ensure security and safety for investment, and the flows of goods in theregion, PM Phuc added.
The government leader told participantsthat Vietnam officially joined APEC in 1998. And since then, APEC has played anincreasingly important role in the economic development of Vietnam. As oftoday, APEC member economies have contributed about 78 percent of the total FDIinflows to Vietnam, 75 percent of the total merchandise trade and 79 percent ofthe total number of tourists to the country. About 80 percent of Vietnamesestudents are studying in APEC member economies. Thirteen APEC members havebecome Vietnam’s strategic and comprehensive partners.
“With its strong determinationand efforts to deepen reform and international integration, Vietnam has madesignificant contributions to APEC’s cooperation. Last time, Vietnam hosted APECin 2006, eleven years ago. And now, we have the great honour to be host of APECYear again with a view to enhancing cooperation with other regional economies fora peaceful, stable, connected and prosperous Asia-Pacific community,” hestressed.
PM Phuc expressed his hopethat MRT 23 would have fruitful and productive discussions to review the implementationof APEC 2017 priorities programmes and approve member economies’ initiatives toreport to the APEC Economic Leaders’ Meeting in November 2017 in order to steer the APECship towards a brighter and more prosperous future for every citizen in theregion.
During the course of thetwo-day meeting, delegates from the APEC member economies are scheduled tofocus discussions on the themes of fostering sustainable,inclusive and innovative growth and strengthening MSMEs’ competitiveness andinnovation; supportingthe multilateral trading system (MTS) and the WTO; deepening regional economicintegration; and towardan APEC Post-2020Vision.-VNA
VNA
