An overview of the third APEC Senior Officials’ Meeting (Source: VNA)In his opening remarks, Deputy Minister of Foreign Affairs Bui Thanh Son, APEC 2017 SOM Chair, highlightedthe strong outlook for the Asia-Pacific, as he heard at the recent thirdmeeting of the APEC Business Advisory Council (ABAC3).
“But this bright prospect of growth, and also that of trade, hinges on thepolicy choices and actions by economies,” he said.
As suggested at ABAC3, the main reasons for global trade declaration include,among others, weak investment, slower trade liberalisation and reducedformation of cross-border production chains, Son said.
He, therefore, underscored the need to look carefully into the APEC work to seewhat can be done.
[Host Vietnam makꦦes good impressions in APEC SOM3]
APEC has done quite well so far, particularly with major actions committed bytrade ministers, the APEC SOM 2017 Chair said, noting that progress has beenmade in all committees, working group and sub-fora, as well as in a number ofnew initiatives.
To date, over 200 meetings have been held across the numerous workstream ofAPEC. Over the past ten days alone, a series of almost 80 meetings have beenorganised, including many significant, high-level events, he said.
“The Food Security Week in Can Tho which concluded with the High-Level PolicyDialogue on Food Security and Sustainable Agriculture in response to ClimateChange produced important results, including the Can Tho Statement and twoAction Plans on Food Security and on Rural-Urban Development,” he said.
“The High-Level Meeting on Health and the Economy, with the participation ofmany Health Ministers, sought ways to boost patient-first investment and buildcapacity for healthcare financing and access in the region, for the ultimateaim of ensuring a healthy and productive workforce,” Son added.
This SOM 3 is expected to cover a lot of work, including to review the work ofthe Economic Committee (EC), the Committee on Trade and Investment (CTI), theAPEC Steering Committee on Economic and Technical Cooperation (SCE), and theBudget and Management Committee (BMC), and build on the inter-sessional work tofinalise the proposed outcome documents for potential submission to theministers and leaders, he said.
According to Son, host Vietnam, will also update APEC member economies on thepreparations for the APEC Leaders’ Week in the central city of Da Nang, as wellas major events in the lead up, including the Women and the Economy Forum andthe SME Ministerial Meeting.
The SOM 2017 Chair expressed his belief that with theircombined wisdom and hard work, good will and determination, the APEC economieswill secure good outcomes of this meeting and lay the crucial groundwork for asuccessful Leaders’ week.
The two-day meeting will look into APEC committees’ work in support of the APEC2017 priorities and SOM-level issues.
The delegates will also discuss next steps to develop the APEC Post-2020Vision, including the possibility of a Leaders’ statement on APEC Toward 2020and Beyond.-VNA
VNA
