DaNang (VNA) – Inclusive growth is becoming an important content thathas topped recent agendas of the Asia-Pacific Economic Cooperation (APEC)forums as it aims to have no one left behind during the development process.

Attheir meeting in Vietnam’s Da Nang city this weekend, APEC leaders are expectedto discuss the host country’s initiative on inclusive growth. If adopted, thiswill be a new step forward in the forum’s development process.

APECwas established on November 6, 1989, in Canberra, Australia with the mainpurpose of fostering sustainable economic development and prosperity in theAsia-Pacific region.

Toachieve the target, over the past 28 years, APEC has implemented a series ofmeasures, including trade and investment liberalisation, and has seensignificant results.

Accordingto a report of the APEC Policy Support Unit (PSU), in the past more than twodecades, APEC’s economic growth rate was also higher than the rest of theworld.

ThePSU forecasts that during 2017-2018, the region’s GDP growth rate is likely toreach 3.8 percent, higher than the global rate.

Overthe past time, people’s living conditions have been improved as well. Thenumber of poor people in region decreased by over 802 million during 1993-2002 whilethe number of extremely poor ones went down 83.5 percent, from 842 million to139 million people.

However,PSU statistics show that the region’s unemployment rate stood at 4.9 percent in2013, higher than the 4.4 percent of 2007, which meant that trade andinvestment liberalisation had caused structural unemployment.

Economistspredict that structural unemployment may increase in the time ahead and manypeople are facing the risk of being left behind in the hunt for jobs due tonegative impacts of globalisation and the fourth industrial revolution.

DeputyForeign Minister Bui Thanh Son, who is APEC 2017 SOM Chair, said: “economicgrowth plays an important role in raising people’s living conditions, but it isnot a final goal”.

Therefore,APEC needs a strategic and comprehensive approach to inclusive growth, he said,adding that an all-round APEC action plan in three pillars will generate greatbenefits.

Inan interview granted to Vietnam News Agency reporters on the sidelines of thefourth APEC Business Advisory Council (ABAC) Meeting, David Toua from Papua NewGuinea, ABAC Chair 2018, stated: “Inclusive growth is very important to manyeconomies within APEC so many of the 21 economies support inclusive growth verystrongly”.

Papua New Guinea will be including inclusive growth in its priorities for 2018as the APEC host, following what Vietnam has been treating as priorities, heaffirmed.-VNA