Vietnamese President proposes three APEC priorities

Speaking at the first session of the 2025 APEC Economic Leaders' Meeting on October 31 (local time) at the Gyeongju Hwabaek International Convention Center (HICO) in South Korea, President Luong emphasized the urgent need to strengthen connectivity and resilience among APEC economies—particularly developing ones—to withstand global uncertainties and technological disruptions.

He proposed three main priorities for the forum:

First, APEC should address bottlenecks in regional supply chains and infrastructure by promoting digital customs procedures, upgrading and harmonizing transport, logistics, and IT infrastructure, standardizing cross-border data and payment systems, and narrowing the technological gap among member economies.

Second, the forum should boost trade and investment cooperation through the effective implementation of the Asia-Pacific Free Trade Agreement and other multilateral frameworks under the World Trade Organization, such as the Trade Facilitation Agreement, while reducing non-tariff barriers.

Third, greater support should be directed toward the private sector—especially small and medium-sized enterprises—to improve access to capital, technology, and markets, as well as strengthen management capacity to thrive in the digital era.

President Luong stressed that amid global macroeconomic instability, maintaining a solid microeconomic foundation is essential for sustainable growth, noting that regional development experiences have underscored the vital role of the private sector.

He reaffirmed that, as the host of APEC 2027, Viet Nam will work closely with both APEC and non-APEC economies to foster regional integration, promote green growth, and create a favorable environment for cooperation and development—contributing to a peaceful, stable, and prosperous Asia-Pacific region.

The session brought together leaders and heads of delegation from the 21 APEC member economies, along with special guests such as the Crown Prince of Abu Dhabi (United Arab Emirates) and the Managing Director of the International Monetary Fund (IMF).

Held under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper," the session focused on two key areas: advancing trade and investment amid global uncertainty, and enhancing public–private cooperation to unlock private-sector potential for inclusive and sustainable growth.

In his opening remarks, President of the Republic of Korea Lee Jae Myung underscored that the meeting provides an important platform for open and constructive dialogue to enhance trade, deepen mutual understanding, and promote shared prosperity across the region.

IMF Managing Director Kristalina Georgieva presented an update on the global economic outlook, urging APEC economies to focus on four key areas: ensuring fiscal sustainability, particularly in managing public debt; maintaining financial stability and addressing macroeconomic imbalances; fostering a transparent business environment to support private-sector development; and strengthening regional cooperation to reduce disparities among economies./.