VN – Key link of APEC economic network

State President Truong Tan Sang (M) - Photo: VNA

Mr. Sang made the point on November 11 in Beijing, China at the 22nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.

 

Viet Nam, said State President Sang fully supports the measures serving to fulfill the Bali commitments and Bogor goals and the facilitation and liberalisation of trade and investment.

 

The State President called for stronger efforts to achieve the United Nations Millennium Development Goals, devise a post-2015 development agenda and address global challenges to guarantee effective regional connections.

 

APEC should intensify economic and technical cooperation while joining and supporting regional initiatives to boost interconnections, including the Association of Southeast Asian Nations and the Greater Mekong Subregion, he said.

 

With negotiations on 15 free trade deals expected to end by 2020, Viet Nam is set to become a key link in an expansive economic network, including 21 APEC member economies, the State President stressed.  

 

Earlier, in his opening speech, Chinese President Xi Jinpingemphasized that the ongoing Summit set an important historical hallmark in the 25 years of APEC development and 20 years of implementation of the Bogor goals. China would contribute US$10 million to capacity development projects in APEC’s developing economies.  

 

Since its establishment 25 years ago, APEC has reduced tariffs from 16.9% to 5.7%, and increased internal trade six-fold to US$ 9.9 trillion.

 

A large number of leaders assessed that APEC cooperation has been implemented effectively and contributed significantly to the bloc’s member economies in such areas asclimate change, food and energy security, maritime issues, and green growth.

 

Participants agreed to boost APEC’s role as a forum for sustainable economic growth and prosperity, and an open trade and investment environment in the Asian-Pacific region./.