The 22nd APEC Summit took place in Beijing, China from November 10-11 Shaping the future through Asia-Pacific cooperation In 1994, in Bogor, Indonesia, APEC identified its goal of building the Asia-Pacific as a region of friendliness and free trade and investment through the elimination of tariff barriers to facilitate flows of goods and human resources. This mission was very difficult to a forum consisting of economies with differences in terms of development level and viewpoint. Two decades later, the leaders of 21 APEC member countries met at the 22nd APEC Summit in Beijing, China to continue seeking solutions to boost the implementation of this goal. With plenary sessions held to discuss measures to boost regional economic links, comprehensive integration and infrastructure development, promoting creativity, reforms and economic growth, APEC 22 approved two statements of APEC leaders on the Beijing Agenda for an Integrated, Innovative and Interconnected … [Read more...] about Asia-Pacific: Driving force of global growth and integration
Interconnected economies benefiting from global value chains
Nhan Dan Online would like to introduce to our readers the full text of the Deputy PM at the symposium. Distinguished participants, Ladies and gentlemen, It is my great pleasure to welcome you all to Ha Noi and to join us at this Symposium on the priorities for APEC 2017. It was right here in this National Convention Center - 10 years ago - Viet Nam hosted the APEC Economic Leaders’ Week in November 2006. I am delighted to see many familiar faces from member economies, the business community and international institutions. I wish to thank you all for your ongoing support and cooperation. Let me take this opportunity to once again congratulate colleagues from Peru on the outstanding success of APEC 2016. This could not have been possible without your tireless efforts and able guidance. Viet Nam is honored to be the host of APEC next year. After three decades of renovation, our country today is in a better position to make more meaningful contributions to APEC and to bring tangible … [Read more...] about APEC 2017 to focus on areas that benefit people and businesses in the region
Vilupti Lok Barrineau and Gisèle Yasmeen The Asia-Pacific Economic Cooperation (APEC) is home to 40 per cent of the world’s population, 50 per cent of global trade, and 60 per cent of global GDP. Over the last quarter century, APEC has shaped and transformed the global economy and supported half a billion people in their rise out of poverty. Few Canadians know much about APEC, never mind the fact that Canada was a founding member (in 1989). The organisation, which ultimately strives for regional economic integration, represents enormous opportunities for Canadian businesses as a driver of innovation and sustainable growth across the 21 interconnected member economies, and as a vehicle to promote Canada’s strategic interests in the Asia Pacific. As multilateral organisations go, however, Canada has not been heavily invested in APEC. But that is now changing. This week’s APEC Ministerial Meeting in HCM City will focus on micro, small, and medium enterprises, or … [Read more...] about Expanding role of MSMEs in global sustainable development
THE 25TH APEC ECONOMIC LEADERS’ MEETING Da Nang, Viet Nam 11 November 2017 1. We, the Leaders of APEC, gathered in Da Nang, Viet Nam under the theme Creating New Dynamism, Fostering a Shared Future, determined to take bolder and sustained collective actions to inject new dynamism into APEC cooperation to promote sustainable, innovative and inclusive growth, deepen regional economic integration, realize the full potential of the business sector, particularly micro, small and medium-sized enterprises (MSMEs), and enhance food security and … [Read more...] about The 25th APEC Economic Leaders’ Meeting adopts Đà Nẵng Declaration
Industrial revolutions are momentous events. By most reckonings, there have been only three. The first was triggered in the 1700s by the commercial steam engine and the mechanical loom. The harnessing of electricity and mass production sparked the second, around the start of the 20th century. The computer set the third in motion after World War II. It may seem too soon to proclaim that the fourth industrial revolution, spurred by interconnected digital technology, is upon us, but Mr. Henning Kagermann, Head of the German National Academy of Science and Engineering, did exactly that in 2011, when he used the term Industry 4.0 to describe a proposed government-sponsored industrial initiative. After missing the first three, Vietnam is now hoping to tap into the fourth revolution, though this requires action and not just words. Boundless prospects It’s not by chance that Industry 4.0 is mentioned often in State documents and speeches by government officials. The topic even … [Read more...] about VN tries to harness the change brought about by Industry 4.0.
While both Cambodia and Vietnam share strong growth prospects and risks related to their financial systems, Vietnam’s more diverse economy, stronger institutions, and higher incomes underpin greater shock absorption capacity, Moody’s wrote in an August 15 report. Robust foreign investment flows into manufacturing and steady growth in global demand have driven export-led expansion in both Cambodia and Vietnam. As the countries have become increasingly integrated into global supply chains, their economies have grown rapidly and income levels have risen markedly. Cambodia’s real GDP increased around 7 per cent per year on average over the five years to 2016 while Vietnam’s expanded about 6 per cent per year. Growth is likely to remain robust ahead. Vietnamese exports are spread across a variety of products and markets while garments and textiles and a few other low-value-added … [Read more...] about Moody’s: Diversified economy offers Vietnam greater resilience than Cambodia