(VOVWORLD) - Vietnamese State President Luong Cuong emphasized the significance of strengthening connectivity and fortifying the resilience of APEC economies, particularly developing economies, against external shocks and negative effects of technology, as he addressed the APEC Economic Leaders' Meeting in the Republic of Korea on Friday.
 President Luong Cuong at the APEC Economic Leaders’ Meeting in the RoK (Photo: VNA/Lam Khanh) |
The Vietnamese President joined leaders and heads of delegations from other member economies in discussing measures to advance trade and investment amid global volatility and foster the public-private partnership to unlock the private sector’s potential for inclusive and sustainable growth.
President Cuong proposed APEC settle major bottlenecks in regional supply chains and infrastructure by effectively digitizing customs clearance procedures; upgrading transport, logistics, and IT infrastructure; harmonizing cross-border data and payment regulations; and narrowing technological gap between economies.
 RoK President Lee Jae Myung welcomes President Luong Cuong. |
The region, he said, should push ahead trade and investment collaboration by concretizing the multilateral trade agreements under the World Trade Organization (WTO), while supporting the private sector, particularly small and medium-sized enterprises, in accessing capital, technologies, and markets.
President Cuong stressed that in the context of macroeconomic instability, a solid microeconomic foundation serves as the cornerstone for long-term growth, noting the region's development trajectory has affirmed the pivotal role of the private sector.
As the host of APEC 2027, Vietnam will work closely with other member economies and partners to deepen regional economic integration, promote green growth, and foster a favorable environment for cooperation and development to build an Asia-Pacific region of peace, stability, and prosperity, he said.