APEC forum enhances |
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Over the past 16 years, Vietnam
During its new strategic period,
The country also hosted the sixth APEC Ministerial Meeting on human resources development and a public-private dialogue to address small and medium sized enterprises (SMEs)’ funding difficulties. Nine initiatives will start next year, including opening a centre for workforce development in Vietnam
APEC was founded in 1989 and has 21 member economies: Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan (China), Thailand, the US and Vietnam. It aims to promote economic growth and prosperity in the region.
APEC's goals is to promote sustainable economic growth, trade and investment liberalization based on the three pillars of cooperation- trade liberalization and investment, business facilitation, economic and technical cooperation.
APEC is a unique forum in the region involving developed and developing economies and new and most dynamic industries in the Asia-Pacific region. It represents 40% of the world population, accounting for 55% of GDP and 44% of global trade.
To maintain the role and position of APEC, member economies have made strong commitments to achieve the goal of building a stable and prosperous Asia-Pacific community.
This year marks the 25th anniversary of APEC, which is now the highest-level mechanism for cooperation on a wide range of issues in the Asia-Pacific region, serving as a major platform for discussion on regional cooperation.
Under the theme “Shaping the future through the Asia-Pacific Partnership”, the 22 nd APEC Economic Leaders’ Meeting will focus on issues on connectivity, the establishment of a regional free trade area, and emerging concerns in economic and trade collaboration.
Since the adoption of the Bogor Declaration 20 years ago, the average tariff level in the Asia-Pacific region has dropped by 12%; total regional trade volume increased eight-fold; and nearly 200 cooperation projects are carried out in 30 different fields every year.
Foreign direct investment (FDI) into the region surged to US$10.6 billion in 2011 from only US$2.5 billion in 1994.
Under the theme “Shaping the future through the Asia-Pacific Partnership”, the 22 nd APEC Economic Leaders’ Meeting will focus on issues on connectivity, the establishment of a regional free trade area, and emerging concerns in economic and trade collaboration.
Since the adoption of the Bogor Declaration 20 years ago, the average tariff level in the Asia-Pacific region has dropped by 12%; total regional trade volume increased eight-fold; and nearly 200 cooperation projects are carried out in 30 different fields every year.
Foreign direct investment (FDI) into the region surged to US$10.6 billion in 2011 from only US$2.5 billion in 1994.
During the APEC Summit, representatives from member economies will focus on intra-regional ties, the formation of the FTAAP and measures to augment economic and trade cooperation.