The first APEC Senior Officials meeting under Viet Nam’s presidency
The first APEC Senior Officials meeting under Viet Nam’s presidency was held in Ha Noi on December 8-9, 2016.
The participants discussed the policy priorities for reinvigorating trade and growth in 2017 among the APEC economies, which together account for half of trade and 60 per cent of GDP globally.
“Economic growth of APEC and beyond is strongly hit by weakening commodity prices, global trade and the tightening of monetary and fiscal policies,” said Viet Nam’s Deputy Prime Minister Pham Binh Minh. “The risks that can arise from the advancement of new technologies are increasing and may widen the development of disparity among economies.”
“We need to strengthen inclusive and resilient communities where people and businesses are placed in the center,” he explained to the Asia-Pacific’s trade policy community. “Efforts must be made to improve resilience to economic volatilities and financial shocks, as well as disasters and epidemics.”
Senior Officials had consultations with representatives from the region’s business community, policy researchers and civil society on ways to address these issues as anti-globalization and protectionist pressures mount.
They also considered the findings of APEC’s newly concluded two-year collective strategic study on realizing a Free Trade Area of the Asia-Pacific as well as the region’s new roadmap on the development of services—its fastest growing sector and biggest source of employment. This includes emerging opportunities to integrate small businesses into digital trade, among other areas critical to boosting trade and sustainable growth that benefits more of the region’s 3 billion people.
Press-release at the official APEC web-site