Socialist Republic of Vietnam

The 14th APEC Economic Leaders’ Week has started in Hanoi on November 12. The event is of great importance for APEC member countries in seeking deeper co-operation in various fields, said President Nguyen Minh Triet in an interview granted to Nhan Dan newspaper.

Q: After 18 years of development, the Asia-Pacific Economic Co-operation (APEC) forum has overcome many challenges to become the world’s most dynamic economic region. Could you tell about the significance of the achievements recorded by APEC in recent years?

A: In 2005, APEC reviewed the mid-term implementation of the Bogor goals with two important landmarks as boosting trade liberalisation and opening up markets among developed economies by 2010 and with developing economies by 2020. Member economies acknowledged that APEC has made remarkable progresses in reducing tariff and non-tariff barriers and transaction costs, increasing the bloc’s trade turnover, creating more jobs, boosting investment, reducing transaction costs, simplifying administrative procedures for granting of investment licenses, customs clearance and immigration permits, and providing favourable conditions for enterprises to invest in the APEC region. Therefore, the Bogor Goals are no longer a distant vision but they are increasingly becoming real.

However, from now till 2010 and 2020, APEC is likely to face a lot of difficulties and challenges due to new changes in the business and investment environment; the blocking Doha round and the strong development of regional free trade agreements and bilateral free trade agreements (FTAs/RTAs); and the far-reaching impacts of globalisation which are widening the gap between the rich and the poor as well as the development levels. These required APEC to carry out reforms and adjustments and accelerate the implementation process. At the 13th APEC Summit held in Busan (Republic of Korea), APEC leaders approved “The Busan Roadmap towards Bogor Goals” aimed at speeding up the implementation of decisions, trade liberalisation commitments and trade and investment facilitation while ensuring the Bogor Goals will be fully implemented as planned.

The orientation and roadmap have been defined and the decisive issue is now in action. It is expected that APEC leaders will adopt the Hanoi Action Plan at this 14th APEC Meeting in order to implement the Busan Roadmap with a focus on taking specific measures and actions, increasing co-operation and efficiency, and to bring into full play APEC’s advantages in implementing all the set targets.

A: November 2006 marks Vietnam’s eight years of joining APEC. What is your assessment of the country’s participation in APEC’s activities. What about the development of Vietnam-APEC relationship and the results of co-operation between Vietnam and APEC member economies?

A: Joining APEC is an important step in Vietnam’s process of integration into the region and the world as APEC includes the most developed economies in the world with high technical and scientific standards, modern technologies, advanced management methods and huge resources of foreign currency reserves. It is undeniable that that many APEC member economies have become Vietnam’s leading partners in trade, investment and official development assistance (ODA). It can be confirmed that economies in APEC at present and the new members in the future are always important partners of Vietnam and this is also the country’s consistent policy in the process of integrating deeper into the region and the world at large.

Over the past eight years since Vietnam joined APEC, we can be proud that Vietnam has made important contributions to boosting co-operation among APEC member economies in many fields despite the country’s low development level, inexperience in integration and limitation in human resources. Through such contributions, Vietnam has built long-term and co-operative relations with APEC in general and with each APEC member economy in particular, taking advantage of different resources for national development.

In a more general view, participating in APEC has contributed an important part to raising Vietnam’s prestige and status in the region and the world as well as at major political and economic centres. At APEC 2006 in Hanoi, the high-level visits to Vietnam by leaders of China, the US, Russia, Japan and Chile will help create new motive force to push bilateral co-operation relations in deeper, sustainable and long-term development.

With these achievements, Vietnam needs to continue to promote the available advantages in the relations with APEC member economies, make full use of any opportunities and resources to serve national development so as to early lift the country out of underdevelopment and create a foundation to become an industrial country by 2020 as defined at the 10th Party Congress.

A: As host of the 14th APEC Meeting, Vietnam has well organised many APEC meetings and related activities during the Year of APEC 2006. What will Vietnam do to promote the success of the Year of APEC 2006 and join other APEC member economies in building “a dynamic community for sustainable development and prosperity”?

A: Each APEC meeting has common features in accordance with APEC norms, but it also reflects the specific traditional and cultural values of the host. The theme of APEC Vietnam 2006 is “Towards a dynamic community for sustainable development and prosperity.” To concretise the theme into practical results, Vietnam has put forth important initiatives to be submitted to the 14th APEC Economic Leaders’ Meeting for approval including the Hanoi Action Plan to implement the Busan Roadmap, a detailed plan on APEC reforms and a programme to cut trade transaction fees by 5% for the 2007-2010 period.

These are major contents of intensive co-operation which will take a couple of years to implement. Therefore, Vietnam has actively co-operated with member economies, including Australia – host of APEC 2007 and Peru – host of APEC 2008, to identify priorities, long-term solutions and appropriate orientations so as to ensure a continuity and inheritance in implementing such initiatives, programmes and projects after they are approved at APEC 2006.