APEC: President Thưởng highlights need to maintain liberalisation of trade and investment in Asia-Pacific

November 18, 2023 - 15:31
APEC members need to be open, sincere, and have constructive dialogue to increase understanding, narrow differences, and create consensus, Vietnamese President Võ Văn Thưởng said at the APEC Economic Leaders’ Meeting


The APEC Economic Leaders’ Meeting in San Francisco took place on November 17 (US time). — VNA/VNS Photo Thống Nhất

SAN FRANCISCO — President Võ Văn Thưởng highlighted three lessons from APEC’s success for the future while addressing the APEC Economic Leaders’ Meeting that opened in San Francisco, the US, on November 17 (US time).

President Thưởng said APEC is a leading regional cooperation and connection forum that brings substantive benefits to people. Three lessons can be drawn from APEC’s success for the future. They are the openness and goodwill of all parties to understand and overcome differences, find common voice and promote common interests, the vision and strategic thinking of generations of leaders that have correctly positioned the role of Asia and the Pacific and APEC, and the support and companionship of the business community and people.

Regarding APEC’s operations, the President emphasised maintaining and consolidating important achievements on the liberalisation and facilitation of trade and investment in the Asia-Pacific region and the globe, creating cooperation frameworks supporting member economies to take advantage of development opportunities and promote growth momentum, and cooperating to build a resilient region, each resilient economy, ready to respond to challenges.

He said that APEC members need to be open, sincere, and have constructive dialogue to increase understanding, narrow differences, and create consensus.

The President stressed that after 25 years of joining APEC, with its desire to continue contributing to the APEC process, Việt Nam proposes to host activities of the APEC Year 2027.

APEC leaders highly appreciated and strongly supported Việt Nam's proposal, and agreed to add it into the meeting’s joint statement.

President Võ Văn Thưởng addresses the APEC Economic Leaders’ Meeting. — VNA/VNS Photo Thống Nhất

At the meeting, delegates evaluated 30 years of APEC cooperation and directions for the new period, and highlighted the forum's important contributions to promoting global economic growth over recent decades.

Regarding trade, investment and connection cooperation, they committed to promoting a free, open, transparent and inclusive trade and investment environment, maintain markets open and resolve supply chain disruptions.

They affirmed to continue supporting the rules-based multilateral trade system with the central role of the World Trade Organisation, underlined the importance of establishing a non-discriminatory digital ecosystem for companies and consumers, and agreed to accelerate the implementation of the Internet economic roadmap/APEC digital economy.

They also agreed to reduce and eliminate fossil fuel subsidies and accelerate the transition to clean energy to achieve the global goal of reducing greenhouse gas emissions to zero.

On the occasion, the meeting approved the major principles on just energy transition and food security in APEC cooperation, the framework and action plan to reduce natural risks, and agreed to speed up the implementation of the biogreen circular economy model and integrate sustainable and inclusive contents in APEC activities.

President Võ Văn Thưởng, his wife and the high-ranking Vietnamese delegation left San Francisco on November 17 evening, concluding their trip to attend the APEC Economic Leaders’ Week in the United States. — VNS