Vietnam and member economies of the Asia-Pacific Economic Cooperation(APEC) Forum have pinned high hopes for their 22nd summit taking placein Beijing, China from November 5-11, marking the organisation’s 25 thanniversary.
APEC has been highly beneficial for Vietnamsince its admission in 1998, including lower tariffs, a steady supply ofproduction materials and a convergence of managerial and technologicalexpertise.
The organisation is the largest source ofinvestment and official development assistance in Vietnam,representing around 65 percent of the country’s foreign directinvestment, Director General of the Multilateral Economic CooperationDivision under the Foreign Ministry Nguyen Nguyet Nga told the VietnamNews Agency in Beijing, adding that 75 percent of tourist arrivalsoriginated from the Asian-Pacific region.
Nga said regionalpeace and stability are crucial as the interests of Asian-Pacificeconomies are closely intertwined, adding that the region will remainthe most significant contributor to Vietnam’s economic progress in thenear future.
Established in 1989, APEC has achieved a numberof successes, including three rounds of tax reductions, a three-foldincrease in internal trade, and the introduction of the APEC businesstravel card, which has made inter-regional travel easier.
Looking back, Vietnam has made a number of worthwhile contributions tothe organisation in terms of economy, trade and people-to-peopleexchanges. During the 2006 APEC summit hosted by Vietnam, membersdeclared to look into the long-term prospects of the Asian-Pacific FreeTrade Area (FTAAP) as well as a series of realistic reforms.
Vietnam has also contributed to APEC’s concerted efforts to addressnatural disasters in the Asian-Pacific region, where 70 percent of theworld’s catastrophes occur.
At the sixth APEC ministerialmeeting on human resources development, Vietnam put forward a number ofproposals for the 2015-2018 period.
Vietnam is also partnering with APEC member economies to host the 25th APEC Economic Leaders’ Meeting in 2017.
The 21-member organisation comprises 12 countries currentlynegotiating the Trans-Pacific Partnership agreement, includingAustralia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand,Peru, Singapore, the United States and Vietnam, along with China, HongKong, Indonesia, the Republic of Korea, Papua New Guinea, thePhilippines, Russia, Taiwan and Thailand.-VNA
APEC has been highly beneficial for Vietnamsince its admission in 1998, including lower tariffs, a steady supply ofproduction materials and a convergence of managerial and technologicalexpertise.
The organisation is the largest source ofinvestment and official development assistance in Vietnam,representing around 65 percent of the country’s foreign directinvestment, Director General of the Multilateral Economic CooperationDivision under the Foreign Ministry Nguyen Nguyet Nga told the VietnamNews Agency in Beijing, adding that 75 percent of tourist arrivalsoriginated from the Asian-Pacific region.
Nga said regionalpeace and stability are crucial as the interests of Asian-Pacificeconomies are closely intertwined, adding that the region will remainthe most significant contributor to Vietnam’s economic progress in thenear future.
Established in 1989, APEC has achieved a numberof successes, including three rounds of tax reductions, a three-foldincrease in internal trade, and the introduction of the APEC businesstravel card, which has made inter-regional travel easier.
Looking back, Vietnam has made a number of worthwhile contributions tothe organisation in terms of economy, trade and people-to-peopleexchanges. During the 2006 APEC summit hosted by Vietnam, membersdeclared to look into the long-term prospects of the Asian-Pacific FreeTrade Area (FTAAP) as well as a series of realistic reforms.
Vietnam has also contributed to APEC’s concerted efforts to addressnatural disasters in the Asian-Pacific region, where 70 percent of theworld’s catastrophes occur.
At the sixth APEC ministerialmeeting on human resources development, Vietnam put forward a number ofproposals for the 2015-2018 period.
Vietnam is also partnering with APEC member economies to host the 25th APEC Economic Leaders’ Meeting in 2017.
The 21-member organisation comprises 12 countries currentlynegotiating the Trans-Pacific Partnership agreement, includingAustralia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand,Peru, Singapore, the United States and Vietnam, along with China, HongKong, Indonesia, the Republic of Korea, Papua New Guinea, thePhilippines, Russia, Taiwan and Thailand.-VNA
