After officially becoming a member of the Asia-Pacific Economic Cooperation (APEC) in November 1998, Vietnam has been an active and responsible member, contributing actively and efectively to the forum in all areas of cooperation.

 

Currently, APEC is a forum converging many leading economic partners of Vietnam, accounting for about 75% of trade, 60% of export value, 80% of import value, 78% of foreign direct investment (FDI), 38% of official development assistance (ODA) and 79% of tourists coming to Vietnam.

On June 15, 1996, the Government of Vietnam submitted an application to join APEC. On November 15, 1998, APEC announced the official admission of three new members, including Vietnam, Russia and Peru. Over the past 22 years, Vietnam has actively participated in and contributed effectively to the development of the forum.

In 2006, Vietnam assumed the role of APEC host for the first time. With more than 100 activities culminating during the APEC Summit Week in mid-November 2006, it was a successful event bearing the mark of Vietnam.

Eleven years later, in 2017 was the second time Vietnam played host to APEC, with 243 organized activities, attracting the participation of more than 21,000 delegates. The role and contribution of Vietnam was particularly appreciated when Vietnam proposed discussions on building the Post-2020 APEC Vision. Vietnam's imprint was also reflected in the first APEC-ASEAN Leaders Dialogue and Vietnam's active contribution to the promotion of the Comprehensive and Progressive Agreement for a Trans-Pacific Partnership (CPTPP) during the 2017 Da Nang Summit.

Prime Minister Nguyen Xuan Phuc and the Vietnamese delegation attend the virtual 27th APEC Economic Leaders' Meeting in Hanoi. Photo: Thong Nhat / VNA   PM Nguyen Xuan Phuc speaks at the virtual 27th APEC Economic Leaders' Meeting. Photo: Thong Nhat / VNA Prime Minister Nguyen Xuan Phuc and leaders of member countries approved APEC Putrajaya Vision 2040. Photo: Thong Nhat / VNA Deputy Prime Minister and Foreign Minister Pham Binh Minh and Deputy Minister of Industry and Trade Tran Quoc Khanh attend the 31st Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting held via video conference. Photo: Lam Khanh / VNA

Since joining APEC, Vietnam has been one of the members actively proposing and successfully participating in over 80 initiatives in almost all areas of trade, investment, technical cooperation, and health. At APEC forums, Vietnam always shows a constructive voice, contributing to ease disputes between economies in many sensitive fields.

In 2020, Vietnam has actively contributed to nearly 100 APEC meetings and conferences both in person and online. At the same time, the country is proactively participating in and contributing to building many important relationships in APEC, such as, the Post 2020-APEC Vision. This is one of the important proposals of Vietnam. Vietnam has also assumed the role of Vice Chairman of the APEC Vision Group, the Post 2020-APEC Energy Vision, the APEC Structural Reform Program for the period of 2021-2025 as the Working Group Leader.

Participating in the APEC Summit in 2020, Vietnam's position has been further enhanced, especially in the role of ASEAN Chairman 2020 and a non-permanent member of the Security Council of the United Nations. Vietnam continues to implement the policy of international integration, promoting multilateral foreign relations.

Through APEC cooperation, Vietnam has expanded its market, promoted trade, investment, tourism, science and technology, and strengthened friendships and bilateral cooperation with member economies, especially with the US, China, Russia, and Japan.

Vietnam had successfully produced test kits that help quickly diagnose a Covid-19 infection, supporting many countries in APEC to prevent and control the COVID-19 pandemic. Photo: VNP  Participating in APEC is an opportunity for Vietnamese textile and garment businesses to have opportunities to interact with investors. Photo: VNA  VinEco has 14 clean vegetable farms and a system of labs and aims to export its produce to APEC countries. Photo: VNP  Vietnam Oil and Gas Group promotes exporting to APEC countries. Photo: Files  The Vietnamese aviation industry is trying to recover after the COVID-19 pandemic. Photo: VNA

With the practical and important contribution of Vietnam to APEC during 22 years of membership, Vietnam is increasingly trusted and appreciated by APEC members.

 Also through APEC, Vietnam gave a strong message to the world business community about its  open policy on trade and investment, contributing to promoting cooperation between Vietnamese businesses and APEC businesses, increasing confidence and helping encourage the APEC business community to do business and invest in Vietnam.

Story: VNP - Photos: VNA & Files