Vietnam actively contributes to an open and sustainable APEC

President Luong Cuong affirmed that Vietnam will continue to make positive contributions and effectively implement the orientations and visions of APEC cooperation.

On the morning of November 16th, local time in Lima, Peru, President Luong Cuong attended the 31st Asia- Pacific Economic Cooperation (APEC) Leaders' Meeting. The meeting was attended by leaders and heads of delegations from 21 member economies, as well as the Managing Director of the International Monetary Fund (IMF). With the theme "Empowerment. Inclusion. Growth," the meeting affirmed the commitment to realizing the Putrajaya Vision 2040 for an open, dynamic, resilient, and peaceful Asia-Pacific community, ensuring that all citizens participate in and benefit from sustainable and inclusive economic growth. The meeting also emphasized the priority of maintaining APEC as a dynamic and resilient cooperation forum, based on fundamental principles such as voluntariness, non-binding commitments, and consensus.

President Luong Cuong and other leaders attend the 31st APEC Summit.

PHOTO: VNA

Leaders agreed to strengthen cooperation to enhance the resilience of APEC economies; promote digital transformation across the region, develop digital infrastructure and skills, and facilitate e-commerce; effectively respond to climate change; and create more jobs, empower women and vulnerable groups economically, thereby narrowing the development gap. Speaking at the conference, President Luong Cuong pointed out three major contrasts in the current global economic landscape: Geopolitical tensions and macroeconomic instability are impacting global growth, yet the Asia- Pacific region remains the engine of global growth. Protectionism, fragmentation, and polarization are increasing, but the need for economic cooperation and integration remains very strong. The development gap and global environmental issues continue to be major challenges; however, the development of disruptive technologies and the increasingly profound and comprehensive trends of digital transformation and green transformation are bringing about many innovative solutions and cooperation opportunities. To ensure APEC continues to stand firm in the face of challenges and effectively seize opportunities, the President proposed three major cooperation directions for APEC in the coming period: First, continue to promote trade and investment liberalization, strengthen the rules-based multilateral trading system. Create and maintain seamless economic linkages. Further facilitate the cross-border flow of finance, technology, knowledge, and labor. Form and develop resilient and sustainable supply chains. Second, promote cooperation programs and initiatives on inclusive growth and inclusive technology. Place people at the center of the digital and green transformation process. Prioritize solutions to bridge the digital divide, supporting disadvantaged communities in remote areas to access digital technologies and the fruits of innovation. Invest heavily in green and digital infrastructure, and cooperate in sharing new technologies to address global issues, especially climate change. Thirdly, continuously enhance global institutional and governance capacity. Promote structural reforms and improve APEC institutions towards a streamlined, dynamic, adaptable, and forward-looking approach, ready to create new growth drivers. Encourage the broad participation and contributions of businesses and citizens – the subjects, objectives, and centers of APEC cooperation.

President Luong Cuong delivered an important speech at the 31st APEC Summit.

President Luong Cuong also affirmed that, in its role as host country of APEC 2027 and a member of the APEC Structural Reform Program Building Group for the 2026-2030 period, Vietnam will continue to actively contribute and effectively implement APEC cooperation orientations and visions. Following the discussion, the conference unanimously adopted the APEC Leaders' Joint Statement along with two key initiatives of host country Peru: the Roadmap to Promote Transition to a Formal and Global Economy and the Declaration on a New Vision for the Asia-Pacific Free Trade Area (FTAAP). The leaders also welcomed South Korea's hosting of APEC 2025, China's hosting of APEC 2026, and Vietnam's hosting of APEC 2027. * Also on November 16th, on the occasion of attending the APEC 2024 Summit Week, President Luong Cuong met with South Korean President Yoon Suk Yeol and held a meeting with Japanese Prime Minister Ishiba Shigeru. During the meeting, President Luong Cuong respectfully invited President Yoon Suk Yeol to revisit Vietnam and thanked him for the invitation to visit South Korea at a suitable time. Both sides agreed to arrange visits through diplomatic channels. On the afternoon of November 16th, local time, President Luong Cuong and the high-level Vietnamese delegation departed from Jorge Chavez International Airport in Lima, returning home, successfully concluding their trip to attend the APEC 2024 Summit and their official visits to the Republic of Chile and the Republic of Peru.

A powerful message about a Vietnam entering a new era.

In an interview with the press, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed that President Luong Cuong's official visit to Chile and Peru, and his participation in the APEC 2024 High-Level Week in Lima, Peru, was a great success. The Deputy Prime Minister and Minister of Foreign Affairs stated that the official visit to Chile and Peru demonstrated Vietnam's consistent foreign policy, valuing relations with countries with traditional friendships, especially in the Latin American and Caribbean region, creating a foundation for expanding cooperation with other Latin American countries. According to the Deputy Prime Minister and Minister of Foreign Affairs, President Luong Cuong had a rich, substantive, and effective work program in Chile and Peru. Both countries gave the President a thoughtful, respectful, and warm welcome. During the visit, many important documents were signed, contributing to strengthening political trust and creating new momentum for multi-sectoral cooperation, while also creating new impetus and opening up many opportunities for cooperation between Vietnam and Chile and Peru in many traditional fields and expanding into new, potential areas. Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son stated that President Luong Cuong attended all activities of the APEC leaders, held numerous bilateral meetings with high-ranking leaders of Vietnam's important partners, and exchanged views with chairmen and CEOs of major corporations. The President also delivered an important speech at the APEC Business Summit 2024, sharing insightful assessments of regional and global trends, opportunities, and challenges, as well as proposing major directions for APEC to continue playing a leading role as a driving force of global economic growth, ensuring that people are at the center of the economic development process. Highly appreciated by APEC leaders, the President's speeches emphasized the fundamental principles of APEC, multilateralism, free trade, and affirmed the importance of solidarity and consensus among members. Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son affirmed that the President's remarks at the APEC High-Level Week once again conveyed a strong message about Vietnam entering a new era, an era of national progress, a dynamic, innovative Vietnam, and a leading destination for international investors. In addition, Vietnam will continue to proactively participate in APEC cooperation, aiming for strategic goals such as digital transformation, renewable energy development, climate change adaptation, and preparation for APEC Year 2027. (Dau Tien Dat)