President Nguyen Minh Triet leads the Vietnamese delegation. President Nguyen Minh Triet receives the American Business Union at APEC 16. President Nguyen Minh Triet attends dialogue between APEC leaders and APEC Business Advisory Council.

The 16^th Summit of the Asia-Pacific Economic Cooperation (APEC 16) Forum convened in Peru’s capital of Lima on November 22^nd and 23^rd, 2008, ended with impressive results. Solutions to firmly hold the global economy from the danger of falling into depression were paid prime attention. Together with successful results gained at the 14^th Summit hosted by Vietnam in 2006, at the 16^th Summit Vietnam again enhanced its role with diverse initiatives and contributions to the forum.

APEC has 21 members, accounting for 59 percent of the world’s population, 52 percent of the world’s land and 70 percent of its natural resources, contributing 57 percent of the world GDP and more than 50 percent of its trade value. Due to its important role in the world, APEC 16 was facing a great challenge in setting up solutions to hold the global economy from falling into depression. However, with great contributions and positive initiatives of strategic significance, APEC 16 has brought in a new hope for stopping the global financial storm. Realities showed that at the time of its convening, APEC 16 became the most important economic and financial forum that created a new impact and at the same time reaffirmed its message in rescuing the world from the economic crisis.

Being a member of APEC, Vietnam is emerging as a phenomenon in economic development in the region and the world as well. After ten years participating in this forum, Vietnam has enjoyed positive impacts to its growth and development in many areas that helped enhancing the country’s internal force. When implementing its pledges for cooperation in APEC’s framework Vietnam ’s exchange of trade and investment with other economies in the region has been expanded. In addition, the cooperative projects within the APEC Fund, even though they are not big in scale, helped enhance Vietnam’s capacity in many areas, particularly in improving the knowledge and experience for integration of those who are involving in this kind of work.

The Heads of States at APEC 16. 

Vietnam’s participation and active contribution to APEC over the past years have made Vietnam ’s image and position a highlight among the APEC member countries and in the world as well. Just to name a few results gained so far: Vietnam successfully organized APEC 14 in 2006 and admirably performed its hosting role during the event. It was an active member in several APEC’s working groups and participated in many activities of the forum, proposed many initiatives for cooperation including holding seminars and training courses to exchange experience and improve capability for APEC member countries.

At the 16^th Summit, once again, Vietnam has been acknowledged by the APEC leaders for its important initiatives and active participation and contribution to making up plans for cooperation in food security.

President Nguyen Minh Triet led the Vietnamese delegation to attend APEC 16. His speeches delivered at the opening and closing ceremonies and his discussion at the closed meetings proved the fact that Vietnam’s initiatives for cooperation and its contribution to the success of the forum is considerable. President Nguyen Minh Triet highly evaluated the APEC members and international financial institutions for their quick and strong measures to prevent the falling of the financial market and minimize the impacts of the crisis. He also requested the large economies to open their markets, restore the confidence and fight against all forms of protectionism, further boost the Doha discussion round soon to reach results as well as continue to pay attention to solve problems relating to poverty, epidemics and environment. In addition, food-producing countries should bring into full play their resources to expand production. President Nguyen Minh Triet also reaffirmed Vietnam ’s readiness in cooperation with the APEC members in the area of food security through technical support, exchange of farming experience and techniques.

In sharing the loads with the APEC developing member countries in implementing the millennial objectives for development, together with the Republic of Korea, Vietnam requested the APEC developed member countries to continue their ODA assistance for the APEC developing member countries. President Nguyen Minh Triet asserted that in the current global economic situation, APEC should further bolster regional integration to contribute solving the crisis. He also affirmed Vietnam ’s strong determination to implement the objective of an open and liberal trade and investment. The Vietnamese President suggested that regional economic integration, though within any framework, should be open and based on APEC’s basic foundation, i.e. to support the World Trade Organisation (WTO) and direct to the implementation of the Bogor objective. He stressed that on this roadmap APEC developing economies should be given preferential advantages on the principles of special and differential treatment, as well as pledges that are suited to their social and economic conditions. President Nguyen Minh Triet expressed Vietnam ’s profound concern about the climatic change and measures to prevent natural disasters. He suggested APEC to set forth measures to strengthen cooperation in those areas.

APEC 16 was a good opportunity for Vietnam to hold high-ranking bilateral meetings and expand relations with APEC members, particularly with the larger countries, promote contacts with the world’s leading business leaders, facilitate trade and attract more investment to Vietnam . Activities held during the Summit were also  good chances for the Vietnamese delegation to provide information of the country’s development, its Party and State’s policies to the international participants, thus helping consolidate the economic partners’ and investors’ trust in Vietnam’s economic prospects after it experienced the hard time of the year 2008.

Story by Vuong Mo - Photos by VNA