APEC needs to place people and businesses at the center of development

Speaking at the Dialogue, President Tran Dai Quang stressed APEC is preparing to enter the 4th decade in the context of a rapidly changing world. Specifically, the world is striving to achieve the Millennium Development Goals by 2030. The 4th industrial revolution, especially digital technology, is changing the global economy picture.

Moreover, the process of extensive economic integration and technological change with automation and artificial intelligence are transforming industries faster than economies could self-adjust.  At the same time, the rise of middle-class and aging demographics pose new demands for regional economic growth and linkages.

Toward 2020, the realization of the Bogor Goals becomes more important when the skepticism about globalization and the benefits of free trade are appearing in some parts of the world. Globalization is a dispensable and irreversible trend, but we can fully contribute to re-shaping the globalization process which is more humane, inclusive and sustainable.

This is the time APEC economies have to commit to maintaining market openness, promoting regional economic integration and supporting a progressive globalization process.

The State President stress “the key to APEC’s new success is to place people and businesses at the center of development”, hence APEC needs to promote sustainable, inclusive and innovative growth, allowing all segments of society to participate in and enjoy the fruits of development and shared prosperity.

The State President also asked the information work to promote disseminating to public about the benefits of globalization, free trade and investment, in order to join hand to promote a sustainable development.

President Tran Dai Quang urged delegates attending the dialogue to clarify specific measures and areas of cooperation to accelerate the realization of the Bogor Goals by 2020; APEC’s goals and timeframe for the post-2020 period as well as its cooperation pillars; and steps that should be taken to develop a post-2020 Vision for APEC.

Speaking at the Dialogue, Ambassador Don Campbell, Co-Chair, PECC stressed the Bogor Goals was set out by APEC leaders from 25 years ago with the purpose to promote free trade and investment in the Asia-Pacific region. He believe each country has their own reasons to join APEC, but the fundamental proposition underlying this region is that the prosperity of our economies is inextricably bound together.

At the Dialogue, delegates have discussed issues surrounding APEC’s challenges and opportunities in the new age, as well as the goals and visions of APEC towards 2020 and in the future.

The APEC Multi-Stakeholder Dialogue on APEC Toward 2020 and Beyond is Vietnam’s initiative in APEC 2017, aims to creating a forum to exchange ideas to build up APEC vision after 2020, in order to identify specific steps and formulate reports to ministers and seniors leaders in November.