APEC 2017 offers opportunity to boost Vietnam’s trade cooperation, international status

(VOVWORLD) - APEC 2017 is an opportunity for Vietnam to accelerate collaborative action on trade and investment liberalisation, business facilitation, and economic and technical cooperation, said IAPS Dialogue, the online magazine of the Institute of Asia  & Pacific Studies.
APEC 2017 offers opportunity to boost Vietnam’s trade cooperation, international status - ảnh 1

According to the magazine, in the last couple of years Vietnam’s economy has regained its resilience with an average increase of more than 6%, buoyed by a strong domestic demand, rising commodity prices and export-oriented manufacturing. Free trade agreements are what the Vietnamese government is largely looking for to boost its export-driven economy.

Vietnam may use its role as this year’s APEC host to advance its foreign policy and gain numerous benefits. First, the summit, as one of the world’s most notable events, can help to lift Vietnam’s status on the international stage.

Second, APEC 2017 provides a venue for APEC members to hold bilateral meetings on the side-lines to discuss topics other than the official APEC agenda. Third, Vietnam can use its role as APEC chair to advance its economic, political and security agenda. Fourth, Vietnam is a beneficiary of APEC’s trade liberalisation and investment agenda. Finally, thanks to APEC, Vietnam must revise its laws to comply with reform and economic integration commitments. 

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