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Vietnam Today

APEC Ministers Responsible for Trade meeting concludes

Released at: 08:27, 22/05/2017 APEC Viet Nam 2017

APEC Ministers Responsible for Trade meeting concludes

Photo: APEC2017.vn

Ministers voice their strong support for the necessity of maintaining APEC's role as a driving force of regional economic growth and connectivity.

by Nguyen Quoc

The two-day 23rd APEC Ministers Responsible for Trade Meeting (MRT 23), the first ministerial meeting of APEC Year 2017 and the only one held in Hanoi, wrapped up on May 21.

Minister of Industry and Trade Tran Tuan Anh, who chaired MRT 23, was quoted by the Vietnam News Agency as telling a press conference after the meeting that practical outcomes produced by MRT 23 will contribute to boosting the process of realizing APEC Year 2017’s themes and priorities and laying the foundation for the next steps towards the APEC Economic Leaders’ Week in November.

Delegates voiced their strong support for the necessity of maintaining APEC’s role as a driving force of regional economic growth and connectivity, he said, and as an incubator of ideas for regional cooperation and connectivity as well as for prosperity in the Asia-Pacific.

They also agreed to continue working on the completion of the Bogor Goals on trade liberalization and investment to 2020.

The meeting demonstrates APEC’s determination to continue building a sustainable, transparent, multilateral trading system, he added, taking the law as an important base and foundation for international trade.

It also represents APEC’s support of the 11th WTO Ministers Meeting to be held in Buenos Aires, Argentina, in December.

The meeting reviewed the development of several initiatives and priorities during APEC 2017, including the further implementation of the Lima Declaration on the Asia-Pacific Free Trade Area, the development of a cross-border e-commerce facilitation framework, support for industry initiatives, and a draft action plan on economic, financial, and social promotion in the APEC region.

The APEC ministers also examined the building of the APEC Framework for Human Resources Development in the Digital Age and the APEC vision for the post-2020 era, which will be submitted to the 29th APEC Ministerial Meeting and the 25th Economic Leaders’ Meeting for approval.

Several events were held on the sidelines of the meeting, including the APEC App Challenge, to help small and medium-sized enterprises (SMEs) participate more actively in regional markets, and an international symposium on trade and innovation attended by ministers and representatives of the business community in the region.

The meeting also adopted a Chair Statement, the minister said.

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