Hanoi (VNA) – Instead of waiting, theAsia-Pacific Economic Cooperation (APEC) forum should take the initiative inshaping its future, according to Deputy Foreign Minister Bui Thanh Son –Chairman of APEC Senior Officials’ Meetings 2017 (SOM).

He made the remark during an interview withVietnam News Agency, noting that the future of APEC is an issue high on theagenda, as the deadline for the Bogor Goals realisation is nearing while scepticismabout globalisation and free trade benefits is emerging in certain placesaround the world.

The Bogor Goals were set two decades ago, andthere are only three years left before the deadline for their realisation. Atthe freshly concluded second SOM (SOM 2), APEC member economies reiterated theresolve to promote regional economic connectivity and implement the set tradeand investment liberalisation targets. They also agreed to speed up theliberalisation of services and investment, and reduce nontariff barriers – thefields in which there hasn’t been substantial progress to achieve the BogorGoals.

Son said cooperation in APEC is a long-termprocess with the common goal of development and prosperity in the region. Atthis SOM 2, member economies also discussed measures for maintaining APEC as adriving force of growth and economic connectivity in the region in the newcontext.

Delegates agreed to combine the realisation ofthe Bogor Goals with ensuring the sustainability in development and that peopleand businesses can contribute to and benefit from achievements in theintegration and economic connectivity process. They also agreed to improve themember economies’ adaptability to and creativity in the digital era. These arethe factors helping to raise the role of APEC, he noted.

The deputy minister said one of the fourpriorities for APEC cooperation in 2017 proposed by Vietnam, which is deepeningregional economic integration, is useful for the realisation of the BogorGoals.

To carry out this priority, Vietnam, as host ofAPEC 2017, suggested many initiatives to help orient APEC’s long-termcooperation in the next decades. Those initiatives included the organisation ofthe Multi-Stakeholder Dialogue on APEC Toward 2020 and Beyond on May 16. Theevent attracted much attention from APEC members and international and regionalorganisations, creating a consensus on the need to accelerate the realisationof the Bogor Goals and build a post-2020 vision for APEC.

Vietnam has also worked with other APEC membereconomies to promote many cooperation initiatives in certain spheres, includinga proposal on building documents on facilitating trade and cross-bordere-commerce, Son added.

The official said to shape the future of APEC,it is of critical importance to consolidate APEC’s position as the leadingeconomic cooperation forum in the region, a pioneer in promoting integration,connectivity, and free trade and investment, bringing prosperity to businessesand people.

APEC has an advantage of being flexible andnon-binding, allowing it to discuss new contents. Therefore, it can continueinitiating new ideas for cooperation and connectivity in the Fourth IndustrialRevolution, he said.

The deputy minister expressed his belief thatAPEC will keep developing in a more sustainable fashion on the basis ofeconomic, financial and social inclusion. It will continue to have a strongrole and voice to ensure that all people can participate in and benefit fromattainments of trade and investment liberalisation, and that no one is leftbehind in globalisation.-VNA