KALYAN KUMAR MAHATA
The true appellation of Apu. A Creative Commons license.
Issued by the APEC Secretariat
Ha Noi, Viet Nam, 9 November 2014 – Greater
integration between APEC economies is laying a path for the realization
of their long-term goal of a Free Trade Area of the Asia-Pacific to
boost job creation and sustained growth, said Viet Nam President Truong
Tan Sang in an interview ahead of the 2014 APEC Economic Leaders’
Meeting that will coincide with the 25th anniversary of APEC’s
founding.
“APEC
economies have always kept pace with new trends and advanced economic
cooperation and integration mechanisms,” said President Sang. “Through
our efforts, we are moving towards the establishment of a Free Trade
Area of the Asia-Pacific, as agreed by APEC Leaders in Ha Noi in 2006.”
President
Sang pointed to Viet Nam’s participation in Regional Comprehensive
Economic Partnership and Trans Pacific Partnership negotiations which
the region’s Leaders identified as possible steps to a Free Trade Area of the Asia-Pacific, or FTAAP, when they met in Yokohama in 2010.
APEC Ministers in Beijing
on Saturday adopted a roadmap and launched a collective strategic study
for achieving an eventual FTAAP. These measures will be reviewed by
Leaders when they meet here on Monday and Tuesday. New technical
capacity building measures to ensure the region’s diverse economies are
equipped to successfully negotiate and implement larger, more complex
free trade agreements will also be considered.
“Developing
economies will have an increasingly important role to play in the
coming time,” President Sang noted, in reference to their participation
in emerging regional undertakings. “The ASEAN-led mechanism, together
with APEC, is a strong foundation toward a more democratic and equal
architecture in the region.”
President
Sang explained that more open, integrated markets are essential to
facilitating the exchange of goods, services and innovative ideas that
drive growth while opening the door to new economic opportunities and
higher living standards to more people across the Asia-Pacific.
Regional
integration initiatives are moving beyond the scope of “traditional
trade” and increasing the need for cooperation to keep them on-track, he
added. Improving information-sharing, transparency and conditions for
the adoption of measures such as “good regulatory practices” that level
the playing field for businesses will be among the elements in focus in
Beijing.
“The
realization of APEC’s economic and commercial commitments have
positioned member economies, including Viet Nam, to accelerate reform
and adjustment to regulations and policies in compliance with
international commitments,” Sang said. “As a result, the business and
investment environment continues to improve.”
“I’m
sure that the other Leaders will agree with me that all of us want to
show a stronger commitment for strengthening connectivity, advancing
regional economic integration and greater growth,” President Sang
concluded. “The member economies also need to further promote
innovative, sustainable and inclusive development. If all members could
achieve all these goals, I believe APEC will embrace a brighter
future.”
The
22nd APEC Economic Leaders’ Meeting will take place on 10-11 November.
It will overlap with day two of the APEC CEO Summit, organized by the
private sector, on 10 November.
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