SOM 2 wraps up in Hanoi with various fine outcomes

Delegates at the press conference

The Meeting took place at a time when the regional economic situation had shown signs of recovery, said Deputy Minister Bui Thanh Son.

SOM APEC Chairman 2017 Bui Thanh Son stressed that, during SOM2 activities and events, APEC has identified policies and measures to improve competitiveness, skills, training and retraining for the workforce in the digital age. This was one of the most important results at a ministerial level of the APEC Year 2017 in Vietnam.

At the same time, he also released important contents that had been agreed by senior officials at the Meeting. The members have strongly advocated the need to maintain APEC's role as the driving force of regional economic growth and linkage in the region, serving as the incubator of regional cooperation initiatives for common prosperity of the Asia-Pacific region.

The Meeting agreed to continue promoting the accomplishment of the Bogor Goals on trade and investment liberalization by 2020. The participants agreed that the implementation of the Bogor Goals should be linked to the creation of equal opportunities for every citizen and business to contribute to and benefit from the fruits of regional economic growth and integration, and join global efforts for sustainable development. At the same time, APEC needs to improve its adaptability and creativity, in the context of the fourth technology revolution.

The Meeting also showed support for the High Level Policy Dialogue on Human Resource Development on May 15 when the participants agreed to adopt the Human Resource Development Framework in the digital age. The Dialogue, which was based on Vietnam’s idea, contributed to promoting APEC's efforts to develop skilled and qualified human resources to meet the new digital technology requirements of the regional job market. It also mad great contributions to the implementation of APEC's strategies for quality growth. Vietnam is prioritizing human resources development to meet the high demand for human resources of the digital age.

Deputy Minister of Foreign Affairs Bui Thanh Son

Within the two days of SOM2, senior officials also heard brief reports on the outcomes of the APEC Multilateral Dialogue towards 2020 and the future. The event was initiated by Vietnam and organized jointly by the host country the APEC International Secretariat and the PECC. The outcomes of the Dialogue and the PECC recommendations are the basis for senior officials to discuss the preparatory steps to shape a vision for APEC towards 2020 and the future. This issue will submitted and further discussed at the APEC’s Ministers Responsible for Trade Meeting on May 20 and 21.

A new content discussed at the Meeting was a proposal to promote inclusive development in economic, financial and social areas in order to contribute to implementing the APEC Leaders' Declaration at the Conference in Lima, Peru in 2016 and APEC long-term plans for quality growth, connectivity, structural reform, and business facilitation.

The Meeting also spent time listening to the committees and working groups reporting on progress in developing a number of important cooperation documents in specific areas, including micro, small and medium enterprises; food security and sustainable agriculture; structural reform; facilitation of e-commerce and network economy. Delegates were also updated on the implementation of APEC's long-term programs and action plans on structural reform, connectivity, and enhancement of service competitiveness, helping enhance dynamism and cohesion among APEC’s member economies.

Delegate responding to reporters' questions

Finally, the delegates spent time discussing preparations, in terms of both organization themes, for the upcoming APEC Ministerial activities including the APEC’s Ministers Responsible for Trade Meeting; High-level Policy Dialogue on Sustainable Tourism; Week of Food Security and Advanced Policy Dialogue on Food Security and Sustainable Agriculture Development in Adaptation to Climate Change or Advanced Policy Dialogue on Women and the Economy.

According to Deputy Minister Bui Thanh Son, on this occasion, many initiatives and capacity building activities were implemented by members in the spheres of urbanization, human resources development, education, women's participation in certain occupations and food safety.

In the conclusion of the press conference, Deputy Minister Bui Thanh Son emphasized that SOM 2 and related meetings marked the halfway progress of the APEC Year 2017 in Vietnam. At the same time, he believed that the results achieved at SOM 2 would serve as an important basis for APEC members to continue their discussions at ministerial meetings to be scheduled in the coming months, contributing to the APEC cooperation process in 2017.