Vietnam pledges to boost regional economic integration

 Vietnam is committed to working hand in hand with other members of the Asia-Pacific Economic Cooperation (APEC) forum in enhancing regional economic integration towards the prosperity of the Asia-Pacific region.

President Truong Tan Sang was speaking at the first plenary session of the 23rd APEC Summit on November 19 in Manila, the Philippines. 

The region has experienced a rapid transformation, Sang noted while glowingly speaking of the APEC 2015’s efforts to boost quality development. 

He called on APEC member economies to continually foster regional economic integration towards sustainable development goals and focus closer cooperation on reducing poverty, development gap and disaster risk; ensuring food security; and developing sustainable agriculture and green tourism. 

The APEC economies also need to bolster economic and technical cooperation and support for improved capability of developing members, particularly in new-generation economy and trade, the President added. 

APEC members and enterprises should become more involved in sub-regional and regional integration schemes, notably the ASEAN and Mekong, he said.

Highlighting Vietnam's contributions to fostering APEC and regional economic integration, President Sang said Vietnam has learnt major lessons from 30 years of the “Doi moi” (Renewal) process, which show economic growth is fueled by greater integration while the determinant of sustainable and inclusive growth is reform, particularly reforms of economic system, human resources and infrastructure. 

At the first plenary session, themed “Inclusive growth through regional economic integration”, APEC leaders were committed to achieving the Bogor Goals in 2020 towards the establishment of the Free Trade Agreement of the Asia-Pacific (FTAAP) and developing the region as a driving force of regional and global connectivity. 

They affirmed their support for multilateral trade and adopted measures to increase quality development, reform and increase the participation of micro, small and medium enterprises (MSMEs) in global markets to stimulate growth.

VOV