President Luong Cuong attends the first session of the APEC Leaders' Meeting

(Dan Tri) - President Luong Cuong attended and spoke at the first session of the APEC 2025 Leaders' Meeting.

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

South Korean President Lee Jae Myung welcomes President Luong Cuong (Photo: Lam Khanh - VNA).

With the theme “Towards a resilient, connected and far-reaching region”, the meeting discussed two major groups of issues: promoting trade and investment in the context of global uncertainty and enhancing public-private cooperation to unlock the potential of the private sector, towards inclusive and sustainable growth.

In his opening speech, 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.

The IMF Managing Director reported to leaders on the global outlook, calling on APEC economies to focus on four priorities: ensuring public finance, especially public debt; maintaining financial stability, addressing macroeconomic imbalances; creating an open business environment, facilitating private enterprise development; and strengthening regional cooperation to address imbalances between economies.

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.

Accordingly, the President proposed three key areas that APEC should 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.

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.

Source: https://dantri.com.vn/thoi-su/chu-tich-nuoc-luong-cuong-du-phien-thu-nhat-hoi-nghi-cac-nha-lanh-dao-apec-20251031143313160.htm