APEC to foster multilateral trade network: President Quang at 24th High-level Week of APEC
PSNews-The second session of the 24 High-level Week of the Asia-Pacific Economic Cooperation (APEC) was attended by leaders from 21 member economies at the Lima Convention Center, Peru. The Vietnamese delegation was led by State President Tran Dai Quang.
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Delivering the opening speech, Pablo Kuczynski, President of Peru, stressed the need to promote liberation of trade and investment amid an increasing trend of protectionism and difficulties faced with multilateral trade systems.
The world and region continue to encounter increasing challenges in terms of economics, politics and security, and the world’s economic recovery remains slower than predicted, according to APEC leaders.
Regional and global trade has experienced the slowest growth rate since the global economic and financial crisis. The meeting agreed to strengthen the multilateral trade system; promote liberalization of trade and investment, and structural reforms; support micro, small and medium enterprises (MSME); and foster value chains and connect together global supply chains.
Speaking at the meeting, Vietnamese President Tran Dai Quang stressed, APEC member countries increase efforts to fulfill the Bogo Goals by 2020 for regional trade growth. Vietnam welcomes the 2016 - 2025 Roadmap on the competitiveness of the services sector on the basis of different levels of development of APEC members, the President noted.
At the same time, APEC members should consolidate the multilateral trade system, including early realizing the WTO’s Trade Facilitation Agreement and committing to fight protectionism of all kinds, he suggested.
President Quang emphasized considered that APEC should seek new trends, proactively initiate, coordinate and promote economic cooperation mechanisms and integration at various levels, including the ASEAN Economic Community, TPP, RCEP and FTAAP.
The Vietnamese leader proposed APEC member countries to concentrate on effectively implementing the new agenda on structural reforms and Strategy for the quality of growth, development of human resources and high-quality infrastructure.
Mr. Quang pointed out the need to further support MSME, especially in their accessing markets, financial flows and technologies. Vietnam advocates green initiatives launched by MSME, and enterprises led by women.
The Vietnamese President revealed that Vietnam continues to promote its reform process in a comprehensive and synchronous manner, and step up restructuring linked with renewing its growth model. With its comprehensive international integration, Vietnam is expected to serve as an important link in the broad economic network with 59 partners, including 18 APEC members.
