Vietnam Commits to Advancing APEC Cooperation
Lima, The Gulf Observer: Vietnamese State President Lương Cường reaffirmed Vietnam’s commitment to actively contributing to the Asia-Pacific Economic Cooperation (APEC) while addressing the 31st APEC Economic Leaders’ Meeting in Lima, Peru. His remarks underscored both the challenges and opportunities in the global economic landscape and emphasized Vietnam’s role in fostering regional and global collaboration.
Global Economic Landscape
President Cường noted that geopolitical conflicts, trade frictions, and macroeconomic instability have dampened global growth prospects. However, he praised the Asia-Pacific region for maintaining a stable growth trajectory, serving as the engine of global economic progress. He acknowledged the rising pressures of protectionism, supply chain disruptions, and polarization but emphasized the necessity of bolstering international economic cooperation.
Key Challenges and Opportunities
Cường highlighted significant challenges such as development and digital divides and environmental issues, while also pointing to transformative technologies and green transitions as avenues for innovative solutions and enhanced cooperation.
Vietnam’s Proposals for Strengthening APEC
The Vietnamese leader proposed several key actions to enhance APEC’s role:
- Promote Trade and Investment: Strengthen the rules-based multilateral trading system and advance towards realizing a Free Trade Area of the Asia-Pacific.
- Inclusive Growth: Focus on digital transformation and green transition with people-centered approaches. He stressed the need to bridge the digital divide and prioritize support for vulnerable communities through investments in green and digital infrastructure.
- Institutional Reforms: Advocate for APEC’s structural reforms to enhance agility and foster collaboration with businesses and communities.
President Cường affirmed Vietnam’s active collaboration with APEC partners on the APEC Structural Reform Agenda for 2026–2030 to improve operational effectiveness.
Outcomes of the APEC Summit
The leaders adopted a joint statement and endorsed Peru’s two flagship initiatives:
- The Lima Roadmap to Promote the Transition to Formal and Global Economy.
- The Ichma Statement on a New Look to Advance the Free Trade Area of the Asia-Pacific.
The summit also announced upcoming hosts for APEC: the Republic of Korea in 2025, China in 2026, and Vietnam in 2027.
Conclusion of the Visit
President Cường concluded his successful participation in the APEC Economic Leaders’ Week and official visits to Chile and Peru, marking Vietnam’s steadfast commitment to regional and global cooperation.
