APEC-G20 Align Trade and Growth Priorities

Viet Nam Prime Minister Nguyen Xuan Phuc, representing APEC during the Group of 20 leaders’ summit in Hamburg, delivered a strong message of support for international cooperation to address trade and growth challenges in the unsettled global environment.
“Creating a new and more powerful momentum for growth from innovation is essential to maintain dynamic development,” declared Prime Minister Phuc, in his remarks to G20 leaders.

Prime Minister Phuc noted that APEC economies and G20 countries are both working to realize deeper, next generation economic integration and trade. This includes efforts to promote regional connectivity, limit protectionism and strengthen the global trading system while ensuring that greater benefits reach all corners of society.
“The fourth industrial revolution and global network connections have boosted labor productivity and created new industries and jobs, and also posed many challenges,” said Prime Minister Phuc. “We believe that the G20 and APEC can coordinate and share ideas and good practices for a multidimensional approach, in all global, regional and domestic aspects, on this matter.”
This includes APEC initiatives to open up channels that can enable small businesses to modernize and participate in trade and global markets.
“Governments need to provide a favorable institutional and financial environment for small and medium enterprises, especially to encourage innovative startups, application of digital business models and participation in global value chains,” Prime Minister Phuc said.
Viet Nam joined the G20 members to draft the declaration endorsed at the conclusion of the G20 leaders’ summit.
Press-release at the APEC official web-site