Saturday, November 25 2017

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APEC needs to bolster its leadership

Update: November, 11/2017 - 15:00
The 25th APEC Economic Leaders’ Meeting commences on Saturday morning in the central coastal city of Đà Nẵng. — VNA/VNS Photo
Viet Nam News

ĐÀ NẴNG – President Trần Đại Quang has called for APEC member economies to bolster their leadership to find new drivers for growth, trade, investment, connectivity and ensure that benefits from globalisation and economic integration are equally distributed.

“Only by doing so, can we contribute to a peaceful, stable, dynamic, interconnected and prosperous Asia-Pacific,” he told attendees at the 25th APEC Economic Leaders’ Meeting, which commenced on a sunny Saturday in the central coastal city of Đà Nẵng.

Leaders of the 21 economies of the Asia-Pacific Economic Co-operaiton (APEC) were also joined by Managing Director of the International Monetary Fund (IMF) Christine Lagarde at the opening session.

In his opening remarks, President Quang stressed that over the past 25 years, the world and the region have undergone profound changes in economic and international relations, and in the balance of power.

“However, with the strategic vision to promote economic co-operation as the foundation of APEC and a focus on removing barriers to trade and investment, APEC has shown its dynamism, adaptability and self-transformation to become the premier regional economic forum and a driver of global growth and integration,” the President said.

“It has also played a leading role in addressing urgent global challenges. The Bogor Goals of free and open trade and investment and support for the multilateral trade system, as well as growth and connectivity strategies and programmes, have provided a long-term orientation for APEC’s activities and created hundreds of concrete areas for co-operation, for issues including the next generation of trade and investment.”

“We have also responded to the new demands of the digital era” he said, noting that the fourth industrial revolution has created unprecedented opportunities for development and innovation.

The historic global agreements, especially the United Nations’ 2030 Agenda for Sustainable Development, have set the long-term direction for international co-operation on sustainable development.

Addressing the summit, Lagarde reported to APEC Economic Leaders on the prospects of the global and regional economy. She also shared policy implications that suggest new momentum for Asia-Pacific to continue to be a driver of growth and linkages in the coming years.

The summit takes place throughout the day with two sessions under the theme of "Innovative Growth, Inclusion and Sustainable Employment in the Digital Age" and "New Drivers for Regional trade, Investment and Connectivity".

During their working lunch, the leaders also discussed the topic of "Fostering a Shared Future".

A press conference of the 25th APEC Economic Leaders’ Meeting will be held in the International Media Centre in Đà Nẵng later in the afternoon under the chair of President Quang.  VNS

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