Da Nang (VNA) – Vietnam’sPresident Tran Dai Quang underscored the need for APEC to affirm and uphold itsleadership in seeking new drivers for growth, to contribute to apeaceful, stable, dynamic, interconnected and prosperous Asia-Pacific whilechairing the 25th APEC Economic Leaders' Meeting.

In his opening remarks at the Meeting in the central city of DaNang on the morning of November 11, President Quang stressed that over the past25 years, the world and the region have undergone profound changes in economicand international relations, and the balance of power.

“However, with the strategic vision to promote economic cooperation as thefoundation of APEC and a focus on removing barriers to trade and investment, wecan be happy with what we have together achieved so far,” he said.

“APEC has shown its dynamism, adaptability and self-transformation to becomethe premier regional economic forum and a driver of global growth andintegration. It has also played a leading role in addressing urgent globalchallenges.”

“The Bogor Goals of free and open trade and investment, andsupport for the multilateral trade system, as well as the growth andconnectivity strategies and programs, have provided long-term orientations forAPEC’s activities, and unfolded hundreds of concrete areas of cooperation,including the next generation trade and investment issues. These have also responded to the new demands of the digital era.”

[25th APEC Economic Leaders’ Meeting opens]

He shared that within the past year, the world has witnessedchanges more rapid and complex than expected. The world security and politicalsituation has seen unstable developments. Exactly 10 years after the globaleconomic and financial crisis, the world economy is recovering and continues toadjust itself in face of profound changes. Yet, regional economic integrationhas been impeded by global uncertainties facing free and open trade.

Given that context, the world economy has recovered. The Fourth IndustrialRevolution has created unprecedented opportunities for development andinnovation. The historic global agreements, especially the 2030 Agenda forSustainable Development, have set the long-term directions for internationalcooperation on sustainable development, he noted.

“This requires APEC to uphold its leadership in finding newdrivers for growth, trade, investment, connectivity and ensure that benefitsfrom globalization and economic integration are equally distributed. Only by sodoing, can we contribute to a peaceful, stable, dynamic, interconnected andprosperous Asia-Pacific,” he stressed.

On the opening session, the 25th APEC Economic Leaders' Meeting sawparticipation from APEC Economic Leaders and Heads of Delegation. The ManagingDirector of the International Monetary Fund (IMF) Christine Lagarde alsoparticipated in as guest.

After the President's remarks, Christine Lagarde reported to APECEconomic Leaders on the prospects of the global and regional economy. She alsoshared policy implications that suggest new momentum for Asia-Pacific tocontinue to be a driver of growth and linkages in the coming years.

APEC Economic Leaders then had the first Retreat Session, under the theme of"Innovative Growth, Inclusion and Sustainable Employment in the DigitalAge".

In the afternoon, the meeting will continue with the Second Retreat, under thetheme of "New Drivers for Regional trade, Investment andConnectivity". Between the two Retreat, APEC Economic Leaders will have aworking lunch, discussing the topic of "Fostering a Shared Future".-VNA