Prime Minister Nguyen Xuan Phuc attends the online 27th Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit, November 20, 2020 (Photo: Laborer newspaper)

The official theme of this year’s APEC is “Optimizing Human Potential Towards a Resilient Future of Shared Prosperity: Pivot. Priorities. Progress.” Its three priorities are improving trade and investment, creating an inclusive digital economy through technology, and promoting creative sustainability.

APEC cooperation momentum

2020 is special to APEC as it marks the end of 25 years of working toward the 1994 Bogor Goals on free trade and investment and is a moment to review the results of long-term cooperation programs and building the Post-2020 Vision of APEC. Malaysian Trade Minister Azmin Ali said the Vision will be based on the achievement of the Bogor Goals and will outline a long-term strategy for the region over at least the next two decades. “This underscores the will and conviction of the Asia-Pacific to continue to resist the force of protectionism, in whatever form they may come,” he said.

APEC  Summit 2020 is taking place with the world battling the COVID-19 pandemic. Senior officials from the 21 economies who met last week to prepare for the Summit agreed that joint policies adopted by APEC will be decisive in the fight against pandemic. Ms. Rebecca Fatima Sta Maria, Executive Director of the APEC Secretariat, said the region faced economic uncertainty and other challenges that threaten its prosperity and well-being before, but nothing like the threat of this pandemic.

The Vietnamese delegation attend the 31st APEC Ministerial Meeting (AMM) (Photo: baoquocte.vn)

Vietnam’s contributions

Vietnam became an APEC member in 1998 and is one of the few members to twice host the APEC Summit in 2006 and 2017. Deputy Prime Minister and Foreign Minister Pham Binh Minh said, “Vietnam has a clear policy of international integration. We are no longer simply participating, but taking a leading role in the region. Our earnest wish during integration is to play an active role.”

Vietnam, the ASEAN Chair for 2020 and a non-permanent member of the UN Security Council, has been supporting and closely coordinating with APEC host Malaysia and other APEC members to ensure that cooperation momentum is sustained despite the pandemic and that all APEC meetings will issue a joint statement, affirming a cooperative spirit.

Vietnam has participated in and contributed opinions to some100 APEC meetings and conferences, both in person and online, including 9 ministerial events like The Tourism Ministers Meeting, the Trade Ministers Meeting, the High-level Meeting on Health and the Economy, and the High-Level Policy Dialogue on Food Security.

As Vice Chairman of the APEC Vision Group (AVG), Vietnam has helped draft important documents of APEC like the Post-2020 Vision of APEC, the Post-2020 Energy Vision, and the APEC Structural Reform Program from 2021 to 2025. Vietnam’s ideas have been incorporated in the Bogor Goals Progress Reports, the APEC Strategy for Strengthening Quality Growth  Reports, and the Mid-Term Review of the Master Plan on Connectivity from 2015 to 2025.

APEC’s 21 members account for 40% of the world's population, half of global trade, and 60% of global GDP. Vietnam has worked closely with other economies to build a strategic vision for a peaceful, stable, dynamic, creative, cohesive, and prosperous Asia-Pacific community.