APEC discusses development of Asia-Pacific Free Trade Area
The development of the Free Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies were the main focus of a workshop in Ho Chi Minh City on August 26.
Participants at the workshop discussing the ree Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies (Photo: VNA)
HCM City (VNA) – The development of the Free Trade Area of theAsia-Pacific (FTAAP) and cooperation in trade facilitation between the PacificAlliance (PA) and APEC member economies were the main focus of a workshop in HoChi Minh City on August 26. The four-sessionworkshop looked into the PA as a building block of the FTAAP; the PA and itsties within the Pacific region; and contributions of the PA to the APEC interms of micro, small and medium-sized enterprises, trade facilitation andservices.
Speaking with Vietnam News Agency reporters, PyzhikovNikita, a delegate from Russia, said the FTAAP must be a standard and transparentagreement.
“To ensure that the agreement will be transparent, weshould work together in establishing a framework of this agreement,” he said,underlining the need to organise more similar events to clarify the role ofeach party in the realisation of the FTAAP.
Tang Guoquiang, International Co-Chair of the PacificEconomic Cooperation Chair, said the FTAAP plays an important role in economicdevelopment, trade and investment facilitation in Asia-Pacific, which has beenaffirmed in many research studies and reports.
Lauding Vietnam’s rapid economic growth rate, he saidVietnam is a good example in the Asia-Pacific region.
Vietnam can bring into full play its role in buildingthe FTAAP and the country can benefit from the area, he said.
As an economic community of four Latin Americancountries, including Chile, Colombia, Peru and Mexico, the PA has been workingsince 2011 to deepen the integration of these econo💮mies and to define jointactions to strengthen economic ties with the Asia-Pacific, on the basis ofexisting bilateral trade agreements between countries. -VNA
The SOM Steering Committee on Economic and Technical Cooperation, along with several other APEC committees and groups will meet on August 25 as part of the third SOM Meeting.
Vietnamese Deputy Prime Minister Trinh Dinh Dung called on member economies of the Asia-Pacific Economic Cooperation (APEC) forum to cooperate and support each other in building and developing sustainable and green agriculture adaptable to climate change.
The APEC Economic Committee (EC) convened its second plenary meeting and the fifth meeting of the Friends of the Chair (FotC) on August 25, discussing the making of regulations and policies to boost development in APEC member economies.
Outcomes of the Food Security Week, which took place in Can Tho from August 18-25, have contributed to materialising one of the four priorities of the APEC Year 2017.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Participants at the workshop discussing the ree Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies
