APEC: PECC general meeting focuses on regional growth prospects

Under the theme “Vision for an Asia-Pacific Partnership for the 21st Century", the event on May 15 comprised four sessions on prospects of the Asia-Pacific’s partnership and of the region’s growth and trade connectivity, new development driving forces, and the regional agenda on digital economy.

Former director of the World Trade Organisation Pascal Lamy analysed emerging trends in the global trade which he said require governments to cooperate closer to harmonise policies, regulations and help people better understand open trade and related social security policies.

Participants highlighted demand for forming more partnerships and seeking driving forces for the liberation of trade, regional connectivity, and inclusive, sustainable and innovative growth. 

They valued the role of micro-, small- and medium-sized enterprises, and services and investment in the regional economy.

A number of opinions focused on new trends arising from the third wave of globalization in the digital age/internet economy, where data and information are resources for and driving forces of growth.

Participants said with the principles of win-win cooperation and flexible dialogue mechanism, APEC and the PECC have built a favourable framework for regional economies to discuss new cooperation contents.

They praised APEC collaboration with regional and international organisations, asking regional cooperation mechanisms to push ties toward inclusive and sustainable development and build a vision for the Asia-Pacific partnership. 

The Pacific Economic Cooperation Council is consisted of an international secretariat based in Singapore and a network of 23 official member committees, mostly from APEC economies.  

Vietnam joined the council in September 1995.