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12/11/2017 - 16:47

CONCLUDING APEC 2017 HIGH-LEVEL WEEK:

APEC member economies are oriented towards the development of self-reliant and inclusive APEC

After one working day with two sessions on "Innovative growth, inclusive development and sustainable work" and "New impetus for trade, investment and regional linkages", the 25th APEC Economic Leaders' Meeting came to a successful end.

APEC economies have reached consensus in many areas

Closing a series of important events

This is the final activity closing the series of events in the framework of the APEC 2017 High-level Week held in Da Nang city hosted by Vietnam.

Attending the meeting were the leaders and heads of 21 APEC member economies. IMF Managing Director Christine Lagarde attended the first confidential session as a guest.

Prior to that, during the opening session, the President and Chair of the 25th APEC High-level Meeting Tran Dai Quang stressed that in the past 25 years, the world and the region had profound changes in economy, international relations, and correlation of forces. However, with the strategic direction of taking economic cooperation as a foundation, removing barriers to trade and investment as the focus, we can be happy with the results achieved.

The contents the host country proposed were supported by US President

APEC has demonstrated its dynamism, adaptability and transformation to become a regional leading economic forum, a driver for growth and economic integration, and demonstrates its leadership in dealing with global urgent challenge. The Bogor Goals on openness and liberalization in trade and investment, the advocacy of multilateral trading systems, strategies and programs on growth and connectivity have become the long-term orientation of the operation of the APEC, opening up hundreds of specific areas of cooperation, including new trade and investment issues, to meet the emerging needs of the digital age.

The President confirmed that we are seeing faster and more complicated moves than forecast. Security situation and political world becomes more unstable. After exactly 10 years since the global financial crisis, the world economy is on the way to recover and continues to adjust to the profound changes. But economic links in the region are being hampered by global uncertainties about free and open trade.

However, the world economy has improved. The fourth Industrial Revolution offers unprecedented opportunities for growth and innovation. Global agreements, especially the sustainable development agenda to 2030, have a long-term, historical significance for promoting international cooperation for sustainable development.

APEC economic leaders express their determination to "foster a shared future"

The context requires APEC to affirm and promote its pioneering role in finding new dynamism for growth, trade and investment, connectivity, as well as ways for people to benefit equally from globalization and economic linkage. Only then will we be able to contribute to the creation of a peaceful, stable, dynamic, connected and prosperous Asia-Pacific region.

Mission of the economies

At the closing press conference, in front of crowded national and international press, President Tran Dai Quang affirmed: "The conference has approved the Da Nang Declaration on creating new dynamism, together fostering a shared future. This is the most important outcome of the APEC summit and APEC 2017. The conference were unanimous on promoting the economic, political and social inclusiveness, affirming the determination of the member economies towards the development of self-reliant and inclusive APEC. To improve the quality of growth, the urgent need is to strengthen education and adaptation to the industrial revolution 4.0.

The meeting also welcomed the adoption of the APEC framework for facilitating cross-border e-commerce, in order to facilitate APEC's effective development of network economy, digital economy and supply chain, global value chain. The meeting reaffirmed its commitment to fulfilling the Bogor Goals on trade and investment liberalization; facilitation of investment, business and service; enhancing economic and technical cooperation, continuing its efforts towards the formation of the Asia-Pacific free trade area, emphasizing the important role of APEC in supporting an inclusive, transparent, equal, law-based, free, multilateral trading system.

In order to create new impetus for sustainable and inclusive growth, the conference spent considerable time discussing in depth policies and measures to develop micro, small and medium enterprises in a green, sustainable and creative direction, promoting creative start-ups, supporting industries, sustainable agricultural development, adaptation to climate change, food security, water, energy, rural and urban development, structural reform, capacity building, reduction of risk and natural disasters, empowerment of women, and development of sustainable tourism.

"The fact that more than 10,000 APEC delegates, leaders of world and regional leading organizations, especially international organizations, 3,000 APEC-focused journalists are vividly demonstrating APEC's stature as well as the importance of the APEC 2017 Summit," said President Tran Dai Quang.

Story and photos: Anh Phong – Le Thao

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