Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Tuesday, December 1, 2020

APEC leaders advance free trade agenda

Updated: 16:36’ - 24/11/2006

Senior officials from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) gathered in Hanoi for their annual meetings from November 12-19, 2006, to discuss a wide range of issues, focusing on trade, under the theme “Towards a Dynamic Community for Sustainable Development and Prosperity.”

The 14th APEC Economic Leaders’ Meeting (AELM-14) was held on November 18-19, where leaders focused discussions on two main topics: advancing trade and investment in a changing world, and fundamentals ensuring dynamism, growth and sustainable development in APEC.

They issued a separate statement on the Doha Development Agenda (DDA) negotiation round, affirming a strong political will, especially emphasizing practical measures to resume the negotiations as soon as possible; endorsed the Hanoi Action Plan to implement the Busan Roadmap towards the Bogor Goals; adopted recommendations to reform APEC together with concrete measures to make APEC more vibrant, dynamic and effective; and committed to continuing to accelerate cooperation to ensure human security in the region.

The leaders also adopted the 18th APEC Ministerial Meeting (AMM) Statement and the statements of other sectorial ministerial meetings held in Vietnam in 2006, including the Meeting of Ministers Responsible for Trade, the Meeting of Ministers Responsible for Avian and Pandemic Influenza, the APEC Finance Ministers’ Meeting, the APEC Small- and Medium-Sized Enterprises Ministerial Meeting, and the APEC Tourism Ministerial Meeting.

The Leaders’ Meeting endorsed the Hanoi Declaration of the AELM-14, affirming the leaders’ unanimity on APEC 2006 outcomes and the orientations for APEC development.

Earlier, a series of events took place within the forum, including the Concluding Senior Officials’ Meeting (CSOM), the APEC Business Advisory Council (ABAC) Meeting, the AMM, and the Chief Executive Officers (CEO) Summit.

The CSOM (November 12-13) discussed issues in economy, trade, investment, human security, counter-terrorism, disaster and pandemic management, cultural cooperation, tourism, anti-corruption, and APEC reforms.

Senior officials endorsed the annual report by the APEC Committee in Trade and Investment (CTI) that includes a second-phase Trade Facilitation Action Plan (TFAP), a Technology Choice Principles Pathfinder initiative and report by the Economic Committee and Budget and Management Committee.

They also approved SOM Chair’s Summary Report on Improvements in the Individual Action Plans (IAPs) in 2006 and another report on the results of Economic and Technical Cooperation (ECOTECH) this year.

APEC highly valued the active and efficient contributions of the ABAC to APEC development, promoting trade and investment liberalization and facilitation and enhancing cooperation among member economies, Vietnamese State President Nguyen Minh Triet said at the 4th ABAC’s meeting (November 14-16).

The ABAC meeting, which was under the theme “Driving forward a prosperous and harmonized APEC community,” identified four sub-themes, namely advancing the Busan Roadmap to achieve the Bogor goals; building prosperity together by strengthening economic, financial and technical cooperation for shared development; fostering a secure and favorable environment for trade and investment and financial flows; and promoting APEC linkage.

The meeting also identified a number of priority issues vital to business interests and the continued economic prosperity of the region for the coming year.

The 18th AMM (November 15-16), meanwhile, endorsed six model measures for regional trade arrangements and free trade agreements (RTAs/FTAs) in trade in goods, technical barriers to trade, transparency, government procurement, cooperation, and trade dispute settlement.

They also endorsed the APEC Reform 2006 Deliverables, which made recommendations to help APEC become more dynamic, effective and responsive to a new environment in the region and the world.

“Towards One Community - Creating New Opportunities for Shared Development” was the theme of the APEC CEO Summit 2006, which gathered more than 1,200 top regional executive officers.

The executives discussed measures to take full advantage of opportunities and overcome difficulties in order to narrow the gap between economies in the region. Their discussions also focused on economic cooperation, investment, business environment, creativity, and difficulties and challenges facing developing countries.

On the sidelines of APEC meetings, six agreements and projects and two loan contracts valued at a total of almost USD 2 billion were signed on November 16 between Vietnam and foreign enterprises, including an agreement between the Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce promoting US-Vietnam trade relations and strengthening support for the Vietnamese business community.-


Send Us Your Comments:

See also:


Vietnam Law & Legal Forum