Dates set for APEC summit in Hanoi

11:07, 22/07/2005

The summit meeting of senior Asia-Pacific leaders will be held in Hanoi for two days from November 18-19 next year, it was decided at an international symposium to prepare for the event yesterday, July 21.

 
Deputy Prime Minister Vu Khoan.
The summit meeting of senior Asia-Pacific leaders will be held in Hanoi for two days from November 18-19 next year, it was decided at an international symposium to prepare for the event yesterday, July 21.

Vietnam will also host a series of meetings between APEC ministers and working groups.

 

Vietnam will also host a series of meetings between APEC ministers and working groups

 

All are expected to contribute to APEC’s goals for free trade and investment through increased co-operation.

 

Deputy Prime Minister Vu Khoan opened the two-day symposium in Hanoi by telling its more than 150 participants that 2006 would be a milestone for the entire Asia Pacific Economic Community because:

 

It marked the completion of the first phase of the goals for APEC set at its Bogor meeting; it could see the introduction of policies and would set directions for the next phase; and it might meet APEC’s goals to promote trade by reducing the cost of transactions by five per cent.

 

For Vietnam , 2006 would be the year of the 10th Vietnam Communist Party Congress at which the next five-year development policy would be decided.

 

Vietnam had become an active member of both international and regional co-operative groups and was in the final stage of its-negotiations to enter the WTO, said the deputy prime minister.

 

"We will keep striving to eliminate the challenges facing APEC," he said.

 

"We will also commit to what has been pursued by APEC’s previous host economies."

 

These were:

 

The meeting of the Bogor Goals of which the liberalisation of trade and investment and co-operation in economy and technology were the pillars;

 

Creating and securing a sustainable and safe business environment; providing health and energy security; reducing corruption and protecting intellectual property rights; and Creating one economic community for the Asia-Pacific.

 

Today, the symposium will discuss the theme and priorities for APEC Vietnam 2006; assess the forum’s development during the past decade and analyse the new global situation and its impact on the group.

 

Participants, who represent 21 economies, will also define the immediate and strategic interests of APEC.

 

APEC membership

 

Vietnam was admitted to APEC in November 1998.

 

As its newest member, Vietnam has spared no effort to actively participate in and contribute to implementing the Bogor Goals; narrowing the gap between APEC members; striving for common prosperity in the region while honouring the group’s principles of voluntarism, flexibility and consensus.

 

Founded in 1989, APEC’s original members were the US , Japan , Australia , New Zealand , Canada , the Republic of Korea , Thailand , the Philippines , Singapore , Brunei , Indonesia , and Malaysia .

 

APEC membership now represents 52% of the world’s land area, 59% of worlds population, and 70% of its natural resources.

 

Its members contribute about 57% of the global GDP and 46% of the world trade.

 

Australia will host the APEC summit in 2007 and Peru in 2008.

 

(Source: Viet Nam News)