APEC creates a turning point for global trade, investment
VOV.VN - Meetings within the framework of the first Senior Official Meeting of APEC (SOM-1) are taking place in Nha Trang city, Khanh Hoa province. The meetings will determine APEC activities throughout 2017 which will change global growth, trade and investment.
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In 2016, global economic growth fell to 2.2%, the lowest level since the 2008-2009 crisis. Achievements of globalization have not been equally distributed among regions and economies sparking protests against trade liberalization around the world, especially in the US and Europe. There is a growing trend toward protectionist policies. Under the theme “Creating new dynamism, fostering shared future” for APEC Year 2017, the 21 APEC economies want to create a new momentum for further growth.
Making APEC cooperation more effective
Suggested by Vietnam, priorities for APEC 2017 include promoting APEC development and cooperation and accomplishing the Bogor goals on trade and investment liberalization by 2020. Vietnam and the other APEC economies will focus on sustainable growth, competitiveness and innovation among micro, small and medium enterprises especially those led by women, greater connectivity, narrower gaps, enhanced food security, and self-reliant communities.
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Raul Salazar, Head of Peru’s Senior Officials Meetings delegation (Source: APEC 2016) |
Vietnam’s proposed priorities for APEC Year 2017 received strong support from APEC members. Promoting micro, small, and medium sized enterprises, especially ones led by women is expected to create a turning point.
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Mr. Allan Bollard, Executive Director of APEC International Secretariat (Source: APEC 2016) |
Opportunities for Vietnam to promote business cooperation
APEC Year 2017 creates an opportunity for Vietnam to introduce its image, attract tourists and establish business relations with regional and global partners among the 1,000 businesses who come to Vietnam for the APEC Meetings.
Mr. Hoang Van Dung, Chairman of the APEC Business Advisory Council of Vietnam, said “Since 2016, Vietnam has expanded its cooperation with APEC members and other foreign partners. Hosting APEC 2017 creates an opportunity for Vietnam to find new investors and create the competitiveness of Vietnamese enterprises, 98% of which are small or medium sized”.