The logo of APEC Vietnam 2017 (Photo: VNA) Hanoi (VNA) – Cambodia’s daily KhmerTimes, one of the two largest English newspapers in Cambodia, on November 6 rana story entitled “Vietnam to host APEC summit amid challenges” by Chheang Vannarith, a SoutheastAsia analyst based in Singapore and Cambodia.
He noted that the worldeconomic order is under stress due to widening inequality, climate change,disruptive technology, rising protectionism, transactional politics andpopulist politics. However, regional economic integration is thriving amid slowglobal growth.
More attention and investment is needed toaccelerate governance reform for an inclusive, resilient and sustainablesociety. Innovation in the public sector is critical to improving stateperformance and adaptation to emerging challenges, the author wrote.
The Asia Pacific Economic Cooperation (APEC)forum is so far the largest economic cooperation mechanism in the Asia-Pacificregion, which shares 59 percent of world GDP, 48 percent of global trade and 53percent of global foreign direct investment (FDI).
Vietnam, who became the member of APEC in 1998,will be hosting the APEC Economic Leaders’ Meeting this week in Da Nang, acoastal city in the central part of Vietnam.
Notably, Vietnam has signed free tradeagreements with 18 members of APEC, in which the US, China, Japan, the Republicof Korea, Hong Kong, Malaysia and Singapore are the main export markets, theauthor pointed.
“After more than 30 years of reform andextensive regional and international integration, Vietnam today is a highlyopen and dynamic economy, projected to become one of the 10 fastest growingeconomies in the world,” he quoted Vietnamese President Tran Dai Quang.
The main challenges ofthe upcoming APEC summit are how to foster open and inclusive global andregional economic governance, how to ensure open and fair regional tradearrangements, how to overcome the challenges stemming from climate change andthe fourth industrial revolution and how to link trade with the realisation ofthe UN sustainable development goals.
Under the theme “creating new dynamism,fostering a shared future”, there are four priority areas – promotingsustainable, innovative and inclusive growth, deepening regional economicintegration, strengthening competitiveness and the innovation of Micro, Smalland Medium Enterprises (MSMEs) and enhancing food security and sustainableagriculture in response to climate change.
Looking ahead, the global economic centre ofgravity remains in the Asia-Pacific, concluded the author.-VNA
“After more than 30 years of reform andextensive regional and international integration, Vietnam today is a highlyopen and dynamic economy, projected to become one of the 10 fastest growingeconomies in the world,” he quoted Vietnamese President Tran Dai Quang.
The main challenges ofthe upcoming APEC summit are how to foster open and inclusive global andregional economic governance, how to ensure open and fair regional tradearrangements, how to overcome the challenges stemming from climate change andthe fourth industrial revolution and how to link trade with the realisation ofthe UN sustainable development goals.
Under the theme “creating new dynamism,fostering a shared future”, there are four priority areas – promotingsustainable, innovative and inclusive growth, deepening regional economicintegration, strengthening competitiveness and the innovation of Micro, Smalland Medium Enterprises (MSMEs) and enhancing food security and sustainableagriculture in response to climate change.
Looking ahead, the global economic centre ofgravity remains in the Asia-Pacific, concluded the author.-VNA
VNA
