In commemorating the 20th anniversary of Vietnam's joining the Asia-Pacific Economic Cooperation Forum (APEC), Vietnam has reviewed the past journey, thus striving to further contribute to the common future of the Asia-Pacific community for peace, stability, dynamism, creativity, cohesion and prosperity.
Vietnam’s strategic vision of international economic integration
Vietnam’s achievements in economic development and international integration in the past 20 years have confirmed that the policy of joining APEC was correct and timely, showing the strategic vision of the Party and State. It is the leading economic cooperation mechanism in Asia and the Pacific, where major economic, trade and technology centers around the world converge, accounting for 39% of the population, contributing 59% of GDP, and over 49% of world trade. APEC has brought many benefits in terms of strategy, economics, trade and investment, contributing to the overall development of the country.
First of all, APEC is a forum gathering 14 of 28 strategic partners, comprehensive partners and the most important economic and trade partners of Vietnam, which account for 75% of export turnover, 78% of total direct investment and 79% of international tourists in Vietnam. In addition, 14 out of 16 free trade agreements (FTAs) that Vietnam has signed or is negotiating, concerns 17 APEC members. These figures clearly demonstrate the importance of APEC for the socio-economic development and international integration of Vietnam.
Secondly, APEC membership has significantly enhanced Vietnam’s position in the international arena. As an APEC member, Vietnam has an equal voice with many leading global economies in the building and formation of regional economic and commercial rules and regulations. This is important for Vietnam in implementing proactive policies, actively integrating into international integration and raising the level of multilateral foreign relations.
Thirdly, the APEC forum is an important channel for Vietnam to promote bilateral ties, helping deepen ties with partners, and consolidating the peaceful environment for national development. Notably, the success of historic bilateral visits and dozens of bilateral meetings, and bilateral talks under the framework of the 2017 APEC Summit continue to lay the groundwork for lifting Vietnam’s bilateral relationship with many partners in the region.
Fourthly, joining APEC and carrying out commitments on door opening for trade and investment and business facilitation has helped push reform and the completion of institutions and policies in the country towards meeting international commitments. It also creates the prerequisite for Vietnam to participate in larger playing fields with higher-level commitments, such as the World Trade Organisation (WTO) and FTAs, including new-generation FTAs with high standards. The implementation of international commitment also gives the country the leverage to realise its resolve to build a facilitating and action-oriented government of integrity in order to serve the people and businesses.
Fifthly, as an APEC member, Vietnam has received help to enhance its capacity in international integration. The implementation of its commitments, synchronisation of policies, and APEC’s support projects have helped improve the international integration capacity for Vietnam. Cooperation programmes on enhancing student exchanges, promoting tourism and exchanging people have brought great opportunities for people, especially the younger generation.
Lastly, APEC brings great potential and opportunities for Vietnamese enterprises in accessing markets and advanced technology, in addition to favourable investment and business environments, convenient transport, and in seeking strategic partners.
Finally, unlike many other mechanisms, APEC offers huge potential and opportunities for Vietnamese businesses. APEC supports enterprises, especially small and medium-sized enterprises, in approaching markets, enjoying a favorable investment environment, business conditions and travel conditions, seeking strategic investors and approaching advanced technology and management standards.
Vietnam’s imprints
Over the past 20 years, Vietnam deployed many activities and made proactive contributions to the APEC Forum, contributing to peace, stability, co-operation and regional economic links, and maintaining the APEC’s role as the leading economic linkage mechanism in Asia-Pacific.
Vietnam is among the few APC members to have hosted APEC summits twice, in 2006 and 2017.
At the High-level Week in November, 2006, in Hanoi, for the first time, APEC leaders identified the formation of the Free Trade Area of the Asia-Pacific (FTAAP). This was an important decision, laying the foundations for a strategic vision of economic connectivity across the region. Results of the 2016 APEC in the spirit of "Towards a Dynamic Community for Sustainable Development and Prosperity" have contributed to boosting APEC cooperation in the direction of becoming more efficient and dynamic.
After 11 years, Vietnam was selected to host APEC for the second time. Hosting APEC brought Vietnam both opportunities and challenges, especially in the context of 2017, which was considered one of the most difficult times for the Forum, with the emergence of protectionism, populism, and anti-globalisation as well as the challenges of climate change, social inequality, and population ageing.
In the context of difficulties, with wisdom, determination and a consensus, Vietnam successfully organised the 2017 APEC year with nearly 250 events, especially the 25th APEC Economic Leaders' Meeting in Da Nang. Vietnam's role and contribution were particularly highlighted when Vietnam chaired the discussion on developing a new vision for the APEC Forum after 2020. In addition, Vietnam’s imprint was reflected through the success of the first informal dialogue between APEC and ASEAN leaders and Vietnam’s active contributions to the formation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on the occasion of the APEC High-level Week in Da Nang.
It can be said that the success and imprints of the two times of hosting the APEC summits affirmed the active and responsible contributions of Vietnam in fostering regional economic integration, maintaining the role of Asia-Pacific as a driving force of global economic growth.
Secondly, Vietnam is also among the most active members in proposing ideas and projects, authoring more than 100 projects in various fields. Many initiatives of Vietnam have been judged to be practical and responsive to common concerns.
Thirdly, Vietnam has made significant contributions to the management of APEC's operations through holding many positions in APEC committees and working groups, such as Executive Director of the APEC Secretariat (2005-2006), Chairman / Vice-Chairpersons of various committees and many main working groups.
Fourthly, the role of Vietnamese enterprises in APEC cooperation has been increasingly enhanced. The Vietnamese business community also actively participates in and makes many recommendations to APEC leaders and ministers.
APEC – Forum to improve multilateral foreign affairs
In a super-connected world, Asia-Pacific continues to be leading dynamic development centre of the world, with its important geo-economic location and important geopolitical strategy, it continue to be the driving force of global economic growth and connection, and a major political centre of the world. As the leading economic linkage mechanism in Asia-Pacific, APEC continues to proactively promote trade, investment, connectivity, promote leadership in global economic governance, implement the 2030 Sustainable Development Goals and respond to the common challenges. In the fourth decade of development, in the face of rapid and profound changes of the world and region, under the strong influence of the forth industrial revolution, APEC is changing vigorously, increasingly expanding its scope of cooperation in a more practical way, for the benefit of the people and businesses.
After more than 30 years of renovation and international integration, Vietnam has entered a stage of strategic development with its new position and stature, continuing to innovate comprehensively, and integrate deeply into the international arena and raise the level of multilateral foreign relations. Asia-Pacific and APEC are continuing to be one of the main points in implementing the country's foreign policy in the new period.
With a 20 year membership in APEC, Vietnam will continue to improve its contribution to the Forum. Vietnam will work with other members to promote the implementation of long-term commitments and strategies for the completion of the Bogor Goals by 2020, growth strategies, and overall connectivity, in addition to promoting the realisation of the results of the 2017 APEC Summit. As Vice Chairperson of the APEC Vision Group, Vietnam will actively contribute to the realisation of Vietnam’s initiative in 2017 - Shaping the APEC Vision for the post 2020 period.
Implementing the guidelines of 12th National Party Congress on active international integration, contribute to the shaping of multilateral institutions and the Directive of the Secretariat on promoting and uplifting multilateral diplomacy, Vietnam will continue to accompany APEC in the next development period, join hands in building a strategic vision on an Asian-Pacific community of peace, stability, dynamism, innovation, and prosperity.
