The 26th APEC Foreign and Economic Ministerial Meeting concluded onNovember 8 in Beijing , adopting a joint statement and eightdocuments aiming to enhance regional cooperation in various fields.
The documents allow Asia-Pacific economies to boost trade andinvestment in green and renewable energy, customs, infrastructurebuilding, maritime affiliation and corruption prevention.
During the two-day meeting, the ministers heard a report on theimplementation of the World Trade Organisation’s Bali Package, andreviewed APEC’s operations in 2014.
They held thatrising challenges are posing to development and connectivity in theregion as growth speed slows down, Doha negotiation is sluggish, as wellas peace and stability are challenged in many areas.
They agreed on the need to increase APEC contributions to thepromotion of multilateral trade system, regional economic links andconnectivity, economic reform and growth.
APECshould take a leading role in speeding up the implementation of Balidecisions, the post-Bali action programme and the information technologyagreement (ITA), they said.
The ministers reached the consensuson accelerating the implementation of Bogor Goals on the facilitationand liberalisation of trade and investment, and supporting membereconomies in their economic reform and growth maintenance.
Theyalso underscored the importance of the establishment of a Free TradeArea of the Asia-Pacific and concurred to submit to APEC leaders aformation roadmap.
Addressing the event, Vietnamese DeputyPrime Minister and Foreign Minister Pham Binh Minh highlighted regionalcooperation and connectivity as the key trend in the context ofcomplicated regional and international developments.
APEC should continue efforts to reinforce mutual understanding andtrust, while raising its responsibility for common concerns andinterests, ensuring the win-win principle and creating a favourableenvironment for cooperation, linkage and development in the region, hesaid.
He also proposed APEC expand regionalpartnerships and connections and promote its role in building asustainable and transparent regional structure for the common goal ofpeace, stability and prosperity, as well as the legitimate interests ofmember economies.
On the sidelines of theevent, which aimed to complete preparations for the 22nd APECEconomic Leaders’ Meeting on November 10-11, Deputy PM Minh hadbilateral meetings with heads of delegations from APEC economies todiscuss ways to boost bilateral partnership and increase coordination atthe APEC forum and other multilateral cooperation mechanisms.
APEC (Asia-Pacific Economic Cooperation) was founded in 1989 and has21 members, namely Australia, Brunei, Canada, Chile, China, Hong Kong(China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, NewZealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore,Taiwan (China), Thailand, the US and Vietnam.
Representing approximately 40 percent of the world’s population, 55percent of global economic output and 44 percent of total trade, APECaims to boost sustainable economic growth built on the three pillars oftrade and investment liberalisation, business facilitation, andeconomic-technological cooperation.-VNA
The documents allow Asia-Pacific economies to boost trade andinvestment in green and renewable energy, customs, infrastructurebuilding, maritime affiliation and corruption prevention.
During the two-day meeting, the ministers heard a report on theimplementation of the World Trade Organisation’s Bali Package, andreviewed APEC’s operations in 2014.
They held thatrising challenges are posing to development and connectivity in theregion as growth speed slows down, Doha negotiation is sluggish, as wellas peace and stability are challenged in many areas.
They agreed on the need to increase APEC contributions to thepromotion of multilateral trade system, regional economic links andconnectivity, economic reform and growth.
APECshould take a leading role in speeding up the implementation of Balidecisions, the post-Bali action programme and the information technologyagreement (ITA), they said.
The ministers reached the consensuson accelerating the implementation of Bogor Goals on the facilitationand liberalisation of trade and investment, and supporting membereconomies in their economic reform and growth maintenance.
Theyalso underscored the importance of the establishment of a Free TradeArea of the Asia-Pacific and concurred to submit to APEC leaders aformation roadmap.
Addressing the event, Vietnamese DeputyPrime Minister and Foreign Minister Pham Binh Minh highlighted regionalcooperation and connectivity as the key trend in the context ofcomplicated regional and international developments.
APEC should continue efforts to reinforce mutual understanding andtrust, while raising its responsibility for common concerns andinterests, ensuring the win-win principle and creating a favourableenvironment for cooperation, linkage and development in the region, hesaid.
He also proposed APEC expand regionalpartnerships and connections and promote its role in building asustainable and transparent regional structure for the common goal ofpeace, stability and prosperity, as well as the legitimate interests ofmember economies.
On the sidelines of theevent, which aimed to complete preparations for the 22nd APECEconomic Leaders’ Meeting on November 10-11, Deputy PM Minh hadbilateral meetings with heads of delegations from APEC economies todiscuss ways to boost bilateral partnership and increase coordination atthe APEC forum and other multilateral cooperation mechanisms.
APEC (Asia-Pacific Economic Cooperation) was founded in 1989 and has21 members, namely Australia, Brunei, Canada, Chile, China, Hong Kong(China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, NewZealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore,Taiwan (China), Thailand, the US and Vietnam.
Representing approximately 40 percent of the world’s population, 55percent of global economic output and 44 percent of total trade, APECaims to boost sustainable economic growth built on the three pillars oftrade and investment liberalisation, business facilitation, andeconomic-technological cooperation.-VNA
