ADB expert highlights APEC role in world trade liberalisation
APEC 2017: ADB expert highlights APEC role in world trade liberalisation
Jayant Menon, lead economist of the Asian Development Bank (ADB), has highlighted the role of the Asia Pacific Economic Cooperation (APEC) in liberalising the world trade system.
Hanoi (VNA) - JayantMenon, lead economist of the Asian Development Bank (ADB), has highlighted therole of the Asia Pacific Economic Cooperation (APEC)in liberalising the world trade system.
“At a time when there appears to be a backlash against globalisation, withrising protectionism pressures throughout the world, institutions such as WorldTrade Organisation and APEC have an even more important role to play inensuring the world trading system remains free and open,” Menon said in arecent interview with China’s Xinhua News Agency.
In a study titled "the Asian Economic Integration Report 2017," theADB examines recent regional integration trends and says that growing trade andinvestment linkages in Asia and the Pacific help improve the region's economicresilience to uncertainties in the global economic and trade policyenvironment.
Attention has now shifted tothe Regional Comprehensive Economic Partnership (RCEP) free trade agreementthat the 10 member states of the Association of Southeast Asian Nations (ASEAN)and its dialogue partners are hoping to establish in the next couple of years,he said.
Once RCEP is established, hesaid the next step would be to broaden it towards greater regional economicintegration through the Free Trade Agreement in the Asia-Pacific (FTAAP) thatincludes all 21 economies of APEC.-VNA
The Asia-Pacific Economic Cooperation (APEC) Economic Leaders Week is a crucial opportunity for businesses throughout central Vietnam to seek trade partners and export markets as representatives of foreign firms flock to the APEC business forums from November 5-11, Da Nang businesspeople and officials said.
The APEC Economic Leaders Meeting, one of the most important politic-diplomatic events of Vietnam in recent years, affirms the country’s active international integration policy and promotes its prestige and position in the international arena, said a Russian expert.
All preparations for the APEC 2017 Economic Leaders’ Week have been already completed, ensuring the success of the most important political-diplomatic event of Vietnam this year.
Throughout the course of nearly three decades, the Asia-Pacific Economic Cooperation (APEC) forum has increasingly affirmed its leading role in the global growth and connectivity.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
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Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
Illustrative image (Source: VNA)
