The Asia-Pacific Economic Cooperation (APEC) Public-Private Dialogue on Services took place in Nha Trang city, the central province of Khanh Hoa on February 23.
Khanh Hoa (VNA) – TheAsia-Pacific Economic Cooperation (APEC) Public-Private Dialogue on Servicestook place in Nha Trang city, the central province of Khanh Hoa on February 23.
Opening the event, deputy head ofthe Ministry of Industry and Trade’s Multilateral Trade Policy Department PhamQuynh Mai said trade and services play an increasingly important role in globaltrade and economic growth of each nation and region.
Commodity trade and manufacturingincreasingly rely on services, such as distribution, telecommunication andfinance, among others, she said, citing that economies with high rate of tradeand services in their gross domestic product (GDP) prove to perform better thanthose strong in agriculture and manufacturing.
In 2015, APEC leaders endorsedthe APEC Services Competitiveness Roadmap (ASCR) at the 24th APECEconomic Leaders’ Meeting with a view to creating a fair and transparentservice environment in the region until 2025.
Member economies targeted thatAPEC would achieve an over 6.8 percent service growth and the percentage rateof added value of the services sector in regional GDP will be higher than theworld’s average level.
To that end, APEC needs to exertfurther efforts to realise ASCR with closer liaison between APEC committees andworking groups. During the roadmap implementation, the business community andother sectors’ feedback play an important role in building policies and workingprogrammes.
At the event, policymakers and businessrepresentatives discussed ways to intensify APEC cooperation in major servicessuch as distribution, transport and logistics.
The dialogue, as part of thefirst APEC Senior Officials’ Meeting (SOM-1) underway in Nha Trang, is expectedto provide a platform for the APEC Group on Services and other forums tocontinue building capacity support programmes for its members, particularly developingeconomies in the above fields.-VNA
Vietnam’s customs sector wants to cooperate with APEC member economies and receive financial and technological support from them to develop the sector’s competence.
Representatives of the 21 APEC economies have agreed to cooperate in preventing base erosion and profit shifting (BEPS) at a seminar on the implementation of a BEPS action plan in Nha Trang city.
The first APEC Senior Officials’ Meeting (SOM 1) went on in Nha Trang city on February 22 with activities seven committees, working groups and forums of APEC.
The first Senior Officials’ Meeting (SOM1) of APEC 2017 and related meetings ongoing in Nha Trang city in the central province of Khanh Hoa entered their sixth working day.
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At the event (Source: VNA) 
