Vietnam supports APEC in trade liberalization

Vietnam supports APEC in taking the lead in the liberalization and facilitation of trade and investment to reach the Bogor goal and be instrumental in the creation of an Asia-Pacific free trade area.

Vietnamese President Nguyen Minh Triet announced this at the opening session of the third meeting of the APEC Business Advisory Council (ABAC) in the central city of Danang on August 25, where he stressed the importance of the meeting, as it will prepare and submit recommendations to APEC leaders at their summit later this year.

Vietnamese President Nguyen Minh Triet (R) greets delegates at the APEC Business Advisory Council meeting in Danang Aug. 25 (Photo: VNA)

Mr. Triet confirmed that although still a developing economy, Vietnam has been working to create a business environment suitable for both Vietnamese and foreign investors.

He also emphasized that “Vietnam is actively integrating into the world while fulfilling its bilateral and multilateral commitments.”

The President told the participants that Vietnam is also introducing measures and policies to boost domestic production, stimulate consumption and reduce economic decline. These have produced initial results that will help the national economy to achieve an estimated growth rate of 5 percent this year.

Taking the floor, the ABAC 2009 Chair, Teng Theng Dar, stated that in the context of the current state of the region’s economy, governments and businesses need to work together to address issues of concern to facilitate investment in the Asia-Pacific region.

He noted the necessity for business communities to share with their governments their issues of concern and put forward recommendations on how to facilitate business environment in the region.

The ABAC Chair expressed his belief that businesses in the region will continue to be supported by legislators so they will be able to establish a strong private-public relationship.

According to the ABAC Chair, the council will continue to strive towards the Bogor Goal for a single community and will priorities regional economic integration, retain a sustainable development model, enhance capacity building and expand regional links in the remaining months of this year.

This ABAC meeting will include many meetings between different working and consultancy groups before it finalizes its conclusions and finishes on August 27.

Source: Vietnam News Agency

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