President Luong Cuong proposed '3 key points' that APEC needs to focus on

On the morning of October 31 (local time), at the Gyeongju International Convention Center (South Korea), President Luong Cuong attended and delivered a speech at the first session of the APEC 2025 Leaders' Meeting.

Speaking at the conference, President Luong Cuong emphasized the urgent need to increase connectivity and enhance the resilience of APEC economies , especially developing economies, against external shocks and the adverse impacts of technology.

South Korean President Lee Jae Myung welcomes President Luong Cuong

PHOTO: VNA

Accordingly, the President proposed "3 key points" that APEC needs to focus on.

First, APEC needs to address major bottlenecks in the region's supply chain and infrastructure through effective digitalization of customs clearance processes; upgrading and synchronizing transport, logistics, and information technology infrastructure; harmonizing cross-border data and payment regulations; and narrowing the technology gap between economies.

Second, it is necessary to promote trade and investment cooperation through efforts to realize the Asia- Pacific Free Trade Agreement, implement multilateral trade agreements of the World Trade Organization such as the Trade Facilitation Agreement, and reduce non-tariff barriers.

President Luong Cuong attends the 32nd APEC

PHOTO: VNA

Third, it is necessary to support the private sector, especially small and medium-sized enterprises, in accessing capital, technology, markets, and improving management capacity to adapt and develop in the digital age.

The President stressed that in the context of macroeconomic instability, a solid microeconomic foundation plays a key role for long-term growth and regional development lessons have also affirmed the very important role of the private sector.

President Luong Cuong affirmed that, as host of APEC 2027, Vietnam will closely coordinate with economies within and outside APEC to strengthen economic connectivity, promote green growth, and create a favorable environment for cooperation and development, for a peaceful, stable and prosperous Asia-Pacific region.

In his opening speech at the conference, South Korean President Lee Jae Myung emphasized that this conference is an opportunity for leaders to have open and constructive exchanges to promote trade and investment, enhance dialogue and mutual understanding, and work towards the goal of common development and prosperity in the region.

APEC leaders and guests also stressed the importance of inter-regional economic integration and connectivity; called for increased experience sharing and policy dialogue among regions; stepped up trade and investment promotion and facilitation; and built safe, flexible and sustainable supply chains.

Source: https://thanhnien.vn/chu-tich-nuoc-luong-cuong-de-xuat-3-trong-tam-ma-apec-can-tap-trung-185251031150209497.htm