Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh (R) attends the 31st APEC Ministerial Meeting (Source: VNA) Hanoi (VNA) – Vietnamese Deputy Prime Minister and ForeignMinister Pham Binh Minh attended the 31st Asia-Pacific Economic Cooperation(APEC) Ministerial Meeting held via videoconference on November 16 eveningunder the chair of Malaysian Minister of International Trade and IndustryMohamed Azmin Ali.
During the first session on improving trade and investment,foreign and economic ministers of APEC economies appreciated the efforts to controlthe COVID-19 pandemic, maintain cooperation, ensure the flows of essentialgoods and services, and boost regional economic linkages.
They agreed to further advance economic integration in theregion, in a manner that is market-driven, including through the work on theFree Trade Area of the Asia-Pacific (FTAAP) agenda which will contribute tohigh quality and comprehensive regional undertakings.
They stressed the importance of a rule-based multilateraltrading system and backed the World Trade Organisation (WTO)’s reform efforts.
Many of them spoke highly the significance of the RegionalComprehensive Economic Partnership (RCEP) Agreement freshly signed at the 37th ASEAN Summit and Related Summits.
The ministers also discussed orientations for APECcooperation in the time to come, and agreed to beef up cooperation in trade andinvestment, sustainable and inclusive growth, and digital economic development.
In the second session on inclusiveness, digital economy andsustainable innovation, the participants showed their support for the promotionof digital platform, structure reform, sustainable and inclusive developmentand innovation.
It is essential to ensure social welfare, increaseresilience, boost inclusive economic recovery and minimise the COVID-19 pandemic’simpacts on developing economies.
APEC needs to pay attention to food security and thesustainable management of natural resources, as well as increasing women’sempowerment and supporting micro-, small- and medium-sized enterprises, theministers said.
Speaking at the meeting, Deputy PM and Minister of ForeignAffairs Pham Binh Minh said that the COVID-19 shows mutual dependence betweeneconomies.
He stressed the need for APEC members to uphold the spiritof solidarity and responsibility to help the Asia-Pacific region soon overcomecurrent challenges and continue leading the global economic recovery.
Minh suggested APEC continue promoting its pioneering rolein stepping up open and free trade and investment, regional economic connectivityand people-centered economic growth.
The Vietnamese delegation also made proposals to helpcontrol the pandemic and boost economic recovery, ensure the sustainability ofsupply chains, and improve the self-reliance against future crises and shocks.
As a non-permanent member of the UN Security Council for the2020-2021 tenure and the ASEAN Chair in2020, Vietnam once affirmed its continued efforts to, together with theinternational community, enhance multilateral cooperation, including within theframework of APEC.
The 31st APEC Ministerial Meeting approved ajoint statement of the ministers affirming the determination of 21 APEC membereconomies to continue joining hands in building a self-reliant and prosperousAsia-Pacific region./.
VNA
