(VOVworld) – President Tran Dai Quang has said hosting APEC Year 2017 is a priority in Vietnam’s foreign policy. Mr. Quang told delegates at the just-concluded APEC Summit in Peru that Vietnam will to its best to fulfill this role, contributing to APEC’s development and prosperity. Vietnam, as host of the next APEC Year, faces a golden opportunity for its strategic development.

President Tran Dai Quang addressed the closing ceremony of APEC CEO Summit in Peru on November 20 (Photo:VNA)

APEC Year 2017, themed “Creating a new driving force for a common future”, will culminate in the Asia-Pacific Economic Cooperation (APEC) Summit in Danang city in November. It will be attended by leaders of 21 member economies, thousands of delegates, business people, and journalists. This is the second time in 10 years that Vietnam will host an APEC Summit, which helps Vietnam expand its foreign relations and attract investment from APEC businesses.

Opportunity to boost trade, investment

APEC, whose members include the US, China, and Japan, accounts for 59% of global GDP and 48% of global trade. Certain APEC members are Vietnam’s leading, strategic partners who generate 80% of total foreign investment, 79% of foreign trade value, and 70% of foreign tourists to Vietnam. The majority of Vietnam’s Free Trade Agreements (FTA) are with APEC members. Vietnamese goods penetrating the strongest markets enjoy decreasing tariffs under the APEC trade liberalization guidelines.

Vietnam considers hosting APEC Year 2017 an opportunity to boost trade and investment. Vietnam, inspired by the World Bank’s Doing Business report, which measures regulatory quality and efficiency, has proposed hosting a Doing Business Vietnam meeting. The event will see Vietnam launch an overall campaign on trade and investment promotion. Vietnam will send a message that with or without the Trans-Pacific Partnership (TPP) agreement Vietnam will continue to work with Asia-Pacific countries and consider them its leading partners. A second event, the maiden APEC Start-up forum, will take place in Ho Chi Minh City. Vietnam expects the forum to be a turning point on its path to become a start-up country.

Promoting tourism advantages

This year, APEC members will implement long-term strategies for quality growth, structural reforms of small and medium-sized enterprises, and service cooperation. During the next APEC year, Vietnam will redouble its efforts towards renewal and integration by introducing a new plan for economic restructuring and growth model reform.

Blessed by nature, Vietnam boasts tourism advantages, which will be promoted to APEC members. Heads of states and CEOs will receive statues of Mother Au Co, a fairy who married the dragon Lac Long Quan and bore an egg sac that hatched a hundred children who became the ancestors of the Vietnamese people. The original of the statue will be planted at Danang beach, the venue of the APEC meetings. Vietnam hopes its message of family bonding and love will help heal the world, while boosting business and tourism cooperation.