Speaking to reporters prior to SOM I, Deputy Prime Minister Vu Khoan said the National Committee for APEC 2006 asked ministries, sectors and localities to make thorough preparations to make SOM I a success.

During the first working day of SOM I, a series of meetings and seminars were held, including a meeting of the Sub Committee on Standards and Conformance (SCSC), a dialogue of the Joint Advisory Committee for Mutual Recognition Arrangement on Conformity Assessment for Electrical and Electronic Equipment (JAC EEMRA), a meeting of the Investment Experts’ Group (IEG), the Life Sciences Innovation Forum (LSIF), a dialogue the of Electronic Commerce Steering Group (ECSF) and a symposium on Information Privacy Protection in E-Government and E-commerce. These conferences will run until March 2 before the SOM 1 conference officially opens. Many forums immediately obtained good results. The Life Sciences Innovation Forum reached a consensus on measures to implement seven key issues, particularly co-operation in combating infectious diseases such as bird flu, trafficking and the production of fake medicine.

Members of the Sub Committee on Standards and Conformance (SCSC) discussed measures to streamline the customs procedures of APEC economies. One solution agreed to by APEC members was the implementation of non-paper commerce for developed members in 2005 and for developing members by 2010.

At the symposium on Information Privacy Protection in E-Government and E-commerce, participants shared experiences in building action plans for APEC-member economies to realise a common privacy policy and legal framework, as well as technical support, which were endorsed at the Ministerial Meeting held in Chile 2004. Meanwhile, the Investment Experts’ Group discussed measures to attract more investment to APEC economies.

It’s worth noting that the number of delegates participating the SOM 1 and related meetings surpassed the organising board’s plan, including 84 participants from the US and 80 from Japan. According to organisers, a similar situation has never occurred in previous APEC summits. This demonstrated that APEC-member economies paid special attention to the Year of APEC to be hosted by Vietnam. Furthermore, issues under discussion at SOM 1 will provide directions and create foundations for following conferences to discuss and approve before being submitted to APEC leaders and ministers in November 2006. The 14th APEC Summit is a significant event for the APEC process as it marks remarkable progress in implementing the Bogor Conference’ goals of free and open trade and investment in the Asia-Pacific region by 2010 for industrialised economies and 2020 for developing economies, as well as outlines directions for the next periods.

APEC is the premier forum for facilitating economic growth, co-operation, trade and investment in the Asia-Pacific region. APEC has 21-member economies, which are home to more than 2.6 billion people, generate 70 percent of global economic growth and represent 57 percent of world GDP and approximately 47 percent of world trade.

For Vietnam, APEC-members play a very important role, making up 80 percent of the national trade, 75 percent of foreign direct investment (FDI) and more than 50 percent of the country’s official development assistance (ODA).

As the youngest member of APEC, since November 1998, Vietnam has proved successful in the integration process and supported APEC’s efforts to boost the Doha trade negotiation round and give priority to boosting co-operation and providing assistance to developing countries. In 2005, Vietnam performed its function well as deputy head of APEC’s special group to combat corruption. The country is expected to implement the role as head of the group in 2006 successfully.

Preparations for the Year of APEC 2006 have been made since 2004. Vietnam has set up a professional working group and selected a logo for the summit. Last August, Prime Minister Phan Van Khai decided to establish the National Committee for APEC 2006 under the chairmanship of Deputy Prime Minister Vu Khoan. Earlier, an international conference to prepare for the Year of APEC 2006 was organised to provide subjects and priorities for the summit, focusing on building a dynamic, sustainably developed and prosperous community.

It is an honour for Vietnam to host the APEC 2006 Summit. This shows the country’s determination to continue to open up its economy and integrate deeper into the global economy, helping to resolve the challenges posed for APEC and create better changes for the regional economic community.