Vietnamese President Tran Dai Quang (Photo: VNA) Hanoi (VNA) - President Tran Dai Quang wrote an article entitled "APEC Vietnam 2017 - Fostering a shared future in a changing world" just ahead of the APEC 2017 Economic Leaders' Week, which is taking place in the central city of Da Nang from November 6-11 with the focal event being the 25th APEC Economic Leaders' Meeting. Following is the full text of the article.
APECVIETNAM 2017 – FOSTERING A SHARED FUTURE IN A CHANGING WORLD
Prof.Dr. Tran Dai Quang
Presidentof the Socialist Republic of Vietnam
Chairof the 25th APEC Economic Leaders' Meeting
Twenty eight years ago, the Asia - PacificEconomic Cooperation (APEC) forum came into being. Ever since, APEC has beengrowing vigorously, living up to the role as the region’s premier economic forum.In a globalized and changing world and a dynamic Asia - Pacific, APEC is facingboth new opportunities and challenges. As the host of APEC 2017, it is Vietnam'smandate to work with other member economies to transform the APEC Economic Leaders’commitments into tangible results and bring APEC closer to the people andbusiness community, thereby realizing the strategic vision for an Asia - Pacificof sustainable and inclusive development in the 21st century.
Presidentof the Socialist Republic of Vietnam
Chairof the 25th APEC Economic Leaders' Meeting
Twenty eight years ago, the Asia - PacificEconomic Cooperation (APEC) forum came into being. Ever since, APEC has beengrowing vigorously, living up to the role as the region’s premier economic forum.In a globalized and changing world and a dynamic Asia - Pacific, APEC is facingboth new opportunities and challenges. As the host of APEC 2017, it is Vietnam'smandate to work with other member economies to transform the APEC Economic Leaders’commitments into tangible results and bring APEC closer to the people andbusiness community, thereby realizing the strategic vision for an Asia - Pacificof sustainable and inclusive development in the 21st century.
APEC in its Third Decade: Achievementsand Milestones
The birth of APEC in 1989 took placeat a time when the world was undergoing profound changes, opening a new chapterin the history of economic cooperation in Asia - Pacific, transforming theregion from a divided one into an increasingly interconnected market toward thecommon goals of raising the people's living standard and increasing prosperity.
On the basis of cooperationcharacterized by consensus, voluntarism, mutual benefit and mutual respect,APEC is a meaningful cooperation forum for member economies to strengthendialogue and understanding, thus making important contribution to peace, stability and development in Asia - Pacific.Therefore, for the member economies, developed or developing, Asia - Pacificand APEC are always a top priority in their global strategy.
Despite global economic turbulences, APEC has continued to prove its vitality andresilience as well as its role as a key driver of global economic growth andintegration. Such vitality does not only stem from its wealth of younglabor force and rich natural resources. More importantly, it is the politicaldetermination and efforts that every member economy itself has exerted topromote innovation and reforms. These achievements along with APEC's progressin trade and investment liberalization, especially the realization of the BogorGoals, have upheld APEC's role as the premier regional economic forum,contributing nearly 60 percent and 50 percent of global GDP and traderespectively.
APEC has also proven its pioneering roleas an incubator of ideas and a coordinator of regional economic linkages. Anumber of major economic integration arrangements have originated from APEC andits member economies. The Trans-Pacific Partnership (TPP) and the RegionalComprehensive Economic Partnership (RCEP) are vivid examples. APEC members havealso embarked on the road to implement connectivity blueprints, facilitating businesstravelers and promoting investment for infrastructure development, among manyothers. APEC economic integration, therefore, has increasingly deepened, havingmade more meaningful contribution to the reinforcementof the values and relevance of the multilateral trading system.
Through its three decades of inception and development, APEC has step bystep proved its indispensable role in the global economic architecture.Together with other multilateral cooperation mechanisms including the ASEAN Community,bilateral and multilateral free trade agreements, connectivity initiatives, andglobal value and supply chains, APEC will continue to make great contributionto peace, prosperity and development in the Asia - Pacific region.
APEC - The Opportunities and Challenges in a ChangingWorld
The course of economic growth and integration in the Asia - Pacific is beingpresented with opportunities thanks to deepened globalization, the FourthIndustrial Revolution, particularly digital technology, Artificial Intelligence, Internet of Things, among others. The increasinginterdependence and connectivity in the region as well as the need to addressglobal challenges also open up new opportunities for member economies to fostercooperation and integration.
While regional and global economic recovery is firming, given theinternational economic integration slowdown, mid-term and long-term risks,rising protectionism, widening development gap and emerging traditional as wellas non-traditional security challenges, the regional security and development environmenthas become ever more uncertain and unpredictable.
Against such a backdrop, Vietnam andother member economies are facing challenges in pursuing the mission, valuesand commitments of APEC. It includes promoting trade and investmentliberalization and facilitation, supporting the open multilateral tradingsystem and cooperation on the basis of equality, mutual benefit and respect; exertinggreater efforts for an Asia - Pacific of peace, stability and prosperity, inwhich all people and businesses have equal opportunities to contribute to andenjoy the fruits of economic growth and connectivity.
In addition to the aforementionedchallenges, there are also new opportunities. Building on its achievements,APEC is now in an excellent position to actively contribute to maintaining the Asia- Pacific’s role as a driver for global economic growth and integration. KeyAPEC members will continue to be the world’s leading economic, trade andtechnological centers in the coming decades. With over 150 bilateral andmultilateral free trade agreements that APEC members are party to, includingefforts toward the eventual establishment of a Free Trade Area of the Asia - Pacific(FTAAP), the region will have vast potentials in terms of market, technologyand financial resources. APEC also enjoys favorable conditions to bring intofull play its role in a multi-layered international landscape thanks to itsflexible, non-binding and voluntary principles, thus enabling member economiesto reach a common voice and consensus, even on a number of issues wheredifferences remain.
Reality shows that in order to turnchallenges into opportunities, APEC member economies must have strong resolvewith concrete actions.
APEC Vietnam 2017: Fostering a Shared Future
The APEC Economic Leaders’ Meeting in Da Nang, a beautiful, modern,dynamic and hospitable coastal city, has an important mission in creating newdynamism for APEC cooperation, integration and growth. This is also anopportunity for APEC member economies to further deepen and elevate theircooperation toward building an Asia - Pacific partnership of sustainable andinclusive development in the 21st century. In the spirit ofconstructive cooperation for mutual benefit and under the theme “Creating NewDynamism, Fostering a Shared Future”, APEC Economic Leaders will discussdirections for the forum on the following issues:
First, create new dynamism forsustainable, innovative and inclusive growth of APEC member economies. These effortsshould be linked with the Fourth Industrial Revolution; equipping the laborforce with new skills for work in the digital age; accelerating structural reform;promoting innovation, start-up and business competitiveness, particularly amongMSMEs. Member economies should also work hard to build a resilient andinclusive APEC community; promote sustainable urban - rural development, ensurefood - water - energy security, reduce disaster risks, enhance women’s economicempowerment and create a better environment for vulnerable groups. These effortswould help increase APEC’s growth quality.
Second, promote trade and investment liberalization and strengthenregional connectivity; accelerate BogorGoals’ achievement by 2020, deepen regional integration and connectivity, andwork toward the eventual realization of FTAAP to enhance trade and investmentflows in the Asia - Pacific and foster linkages among APEC member economies. Itis also necessary for APEC to promote an open, transparent, non-discriminatoryand inclusive multilateral trading system. The reality of world trade requiresmembers to enhance cooperation on issues relating to supply chains, value chains,e-commerce, continued capacity building and regulatory coherence. This is thepre-requisite for the forum to continue its role as the driver of economicintegration in the multi-layered global landscape.
Third, contribute to consolidating APEC’s pioneering role in globaleconomic governance and in tackling common challenges; raising APEC’s adaptabilityto the changing environment and its leadership in advancing reform, innovation;and increasing APEC’s cooperation efficiency to generate tangible benefits forthe people and businesses in the region. APEC also needs to contribute to theactive implementation of global commitments, particularly the 2030 Agenda for SustainableDevelopment and the Paris Agreement on Climate Change.
Fourth, to prepare for APEC’s 4th decade of development, weneed to discuss the steps taken to develop the post-2020 strategic vision forthe forum. This vision needs to further uphold APEC’sleading role in promoting integration, connectivity, sustainable and inclusive qualitygrowth, restructuring, internet/digital economy, education, quality humanresources development, reduced development gap, etc. This is also the developmentneeds of member economies and the common trend of international cooperation inthe 21st century.
Fully aware of the importance of the close relations between Vietnam andAPEC, Vietnam has always made active and responsible contributions to the workof the forum over the past 20 years. Entering the phase of comprehensivereforms, by hosting APEC 2017, Vietnam wishes to reaffirm its foreign policy ofdiversification, multilateralization of international relations and intensiveinternational integration; being a reliable friend and partner of theinternational community. We will continue to work with other APEC membereconomies in building a peaceful, stable, dynamic, interconnected andprosperous Asia - Pacific community.-VNA
The birth of APEC in 1989 took placeat a time when the world was undergoing profound changes, opening a new chapterin the history of economic cooperation in Asia - Pacific, transforming theregion from a divided one into an increasingly interconnected market toward thecommon goals of raising the people's living standard and increasing prosperity.
On the basis of cooperationcharacterized by consensus, voluntarism, mutual benefit and mutual respect,APEC is a meaningful cooperation forum for member economies to strengthendialogue and understanding, thus making important contribution to peace, stability and development in Asia - Pacific.Therefore, for the member economies, developed or developing, Asia - Pacificand APEC are always a top priority in their global strategy.
Despite global economic turbulences, APEC has continued to prove its vitality andresilience as well as its role as a key driver of global economic growth andintegration. Such vitality does not only stem from its wealth of younglabor force and rich natural resources. More importantly, it is the politicaldetermination and efforts that every member economy itself has exerted topromote innovation and reforms. These achievements along with APEC's progressin trade and investment liberalization, especially the realization of the BogorGoals, have upheld APEC's role as the premier regional economic forum,contributing nearly 60 percent and 50 percent of global GDP and traderespectively.
APEC has also proven its pioneering roleas an incubator of ideas and a coordinator of regional economic linkages. Anumber of major economic integration arrangements have originated from APEC andits member economies. The Trans-Pacific Partnership (TPP) and the RegionalComprehensive Economic Partnership (RCEP) are vivid examples. APEC members havealso embarked on the road to implement connectivity blueprints, facilitating businesstravelers and promoting investment for infrastructure development, among manyothers. APEC economic integration, therefore, has increasingly deepened, havingmade more meaningful contribution to the reinforcementof the values and relevance of the multilateral trading system.
Through its three decades of inception and development, APEC has step bystep proved its indispensable role in the global economic architecture.Together with other multilateral cooperation mechanisms including the ASEAN Community,bilateral and multilateral free trade agreements, connectivity initiatives, andglobal value and supply chains, APEC will continue to make great contributionto peace, prosperity and development in the Asia - Pacific region.
APEC - The Opportunities and Challenges in a ChangingWorld
The course of economic growth and integration in the Asia - Pacific is beingpresented with opportunities thanks to deepened globalization, the FourthIndustrial Revolution, particularly digital technology, Artificial Intelligence, Internet of Things, among others. The increasinginterdependence and connectivity in the region as well as the need to addressglobal challenges also open up new opportunities for member economies to fostercooperation and integration.
While regional and global economic recovery is firming, given theinternational economic integration slowdown, mid-term and long-term risks,rising protectionism, widening development gap and emerging traditional as wellas non-traditional security challenges, the regional security and development environmenthas become ever more uncertain and unpredictable.
Against such a backdrop, Vietnam andother member economies are facing challenges in pursuing the mission, valuesand commitments of APEC. It includes promoting trade and investmentliberalization and facilitation, supporting the open multilateral tradingsystem and cooperation on the basis of equality, mutual benefit and respect; exertinggreater efforts for an Asia - Pacific of peace, stability and prosperity, inwhich all people and businesses have equal opportunities to contribute to andenjoy the fruits of economic growth and connectivity.
In addition to the aforementionedchallenges, there are also new opportunities. Building on its achievements,APEC is now in an excellent position to actively contribute to maintaining the Asia- Pacific’s role as a driver for global economic growth and integration. KeyAPEC members will continue to be the world’s leading economic, trade andtechnological centers in the coming decades. With over 150 bilateral andmultilateral free trade agreements that APEC members are party to, includingefforts toward the eventual establishment of a Free Trade Area of the Asia - Pacific(FTAAP), the region will have vast potentials in terms of market, technologyand financial resources. APEC also enjoys favorable conditions to bring intofull play its role in a multi-layered international landscape thanks to itsflexible, non-binding and voluntary principles, thus enabling member economiesto reach a common voice and consensus, even on a number of issues wheredifferences remain.
Reality shows that in order to turnchallenges into opportunities, APEC member economies must have strong resolvewith concrete actions.
APEC Vietnam 2017: Fostering a Shared Future
The APEC Economic Leaders’ Meeting in Da Nang, a beautiful, modern,dynamic and hospitable coastal city, has an important mission in creating newdynamism for APEC cooperation, integration and growth. This is also anopportunity for APEC member economies to further deepen and elevate theircooperation toward building an Asia - Pacific partnership of sustainable andinclusive development in the 21st century. In the spirit ofconstructive cooperation for mutual benefit and under the theme “Creating NewDynamism, Fostering a Shared Future”, APEC Economic Leaders will discussdirections for the forum on the following issues:
First, create new dynamism forsustainable, innovative and inclusive growth of APEC member economies. These effortsshould be linked with the Fourth Industrial Revolution; equipping the laborforce with new skills for work in the digital age; accelerating structural reform;promoting innovation, start-up and business competitiveness, particularly amongMSMEs. Member economies should also work hard to build a resilient andinclusive APEC community; promote sustainable urban - rural development, ensurefood - water - energy security, reduce disaster risks, enhance women’s economicempowerment and create a better environment for vulnerable groups. These effortswould help increase APEC’s growth quality.
Second, promote trade and investment liberalization and strengthenregional connectivity; accelerate BogorGoals’ achievement by 2020, deepen regional integration and connectivity, andwork toward the eventual realization of FTAAP to enhance trade and investmentflows in the Asia - Pacific and foster linkages among APEC member economies. Itis also necessary for APEC to promote an open, transparent, non-discriminatoryand inclusive multilateral trading system. The reality of world trade requiresmembers to enhance cooperation on issues relating to supply chains, value chains,e-commerce, continued capacity building and regulatory coherence. This is thepre-requisite for the forum to continue its role as the driver of economicintegration in the multi-layered global landscape.
Third, contribute to consolidating APEC’s pioneering role in globaleconomic governance and in tackling common challenges; raising APEC’s adaptabilityto the changing environment and its leadership in advancing reform, innovation;and increasing APEC’s cooperation efficiency to generate tangible benefits forthe people and businesses in the region. APEC also needs to contribute to theactive implementation of global commitments, particularly the 2030 Agenda for SustainableDevelopment and the Paris Agreement on Climate Change.
Fourth, to prepare for APEC’s 4th decade of development, weneed to discuss the steps taken to develop the post-2020 strategic vision forthe forum. This vision needs to further uphold APEC’sleading role in promoting integration, connectivity, sustainable and inclusive qualitygrowth, restructuring, internet/digital economy, education, quality humanresources development, reduced development gap, etc. This is also the developmentneeds of member economies and the common trend of international cooperation inthe 21st century.
Fully aware of the importance of the close relations between Vietnam andAPEC, Vietnam has always made active and responsible contributions to the workof the forum over the past 20 years. Entering the phase of comprehensivereforms, by hosting APEC 2017, Vietnam wishes to reaffirm its foreign policy ofdiversification, multilateralization of international relations and intensiveinternational integration; being a reliable friend and partner of theinternational community. We will continue to work with other APEC membereconomies in building a peaceful, stable, dynamic, interconnected andprosperous Asia - Pacific community.-VNA
VNA
