APEC ministers to discuss market opening, regional economic integration

Foreign and trade ministers from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) forum gathered in Port Moresby (Papua New Guinea) on November 15 to discuss ways to further open markets and regional economic integration.
apec ministers to discuss market opening regional economic integration

Delegates also said the ministers are expected to study measures to realize an APEC-wide free trade agreement called the Free Trade Area of the Asia-Pacific (FTAAP), covering about half of global trade and 60 percent of the world economy.

The FTAAP would be based on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) -- an 11-nation, high-standard FTA that will come into force Dec. 30 -- and the Regional Comprehensive Economic Partnership (RCEP), a 16-nation Asian FTA whose negotiations are ongoing. Both the TPP and RCEP do not involve the United States.

The ministerial meeting paves the way for a two-day APEC summit starting November 17 in the Papua New Guinea capital, an event that will bring together Japanese Prime Minister Shinzo Abe, Chinese President Xi Jinping, Australian Prime Minister Scott Morrison, US Vice President Mike Pence, among other regional leaders.

Vietnam’s Prime Minister Nguyen Xuan Phuc will also attend the summit.

APEC comprises 21 economies, namely Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.

Source: VNA

Related News

Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it requires enterprises to meet international standards.
Ministry of Finance responds to information on proposal to tax real estate

Ministry of Finance responds to information on proposal to tax real estate

VCN - Responding to the hot issue of public concern regarding the proposal to tax real estate transactions to prevent speculation in the real estate market, at the press conference for the third quarter of 2024 held by the Ministry of Finance on September 27, Deputy Minister Nguyen Duc Chi gave the Ministry’s viewpoint.
Frozen durian - new growth potential for durian industry

Frozen durian - new growth potential for durian industry

VCN - The official export of frozen durian to China will help optimize raw material sources for businesses, stabilize prices and increase the export value of this fruit from Vietnam.
Despite recovery, wood and product exports face new challenges

Despite recovery, wood and product exports face new challenges

VCN - The market is recovering positively, the number of wood orders that businesses receive is increasing, especially with the main export market of the United States, the export value in the first 8 months of the year increased by 26.2% compared to the same period in 2023.

Latest News

100 most valuable Vietnamese brands on the limelight

100 most valuable Vietnamese brands on the limelight

This year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.
Need to quickly act to catch up with the "green" trend

Need to quickly act to catch up with the "green" trend

VCN - With the movement from the global level to Vietnam's main markets, as well as the strong commitment of the Vietnamese Government, the trend of "compulsory green/sustainable transformation" has become clear to Vietnamese businesses instead of voluntary as before. However, the level of readiness of businesses is not high.
Businesses cooperate to develop advanced technology

Businesses cooperate to develop advanced technology

VCN- In order to foster development of the high-tech sector, one of factors is close cooperation between businesses to improve competitiveness and promote innovation.
Export target for 2024 set at US$400 billion

Export target for 2024 set at US$400 billion

VCN - Since the beginning of the year, Vietnam's export activities have continued to recover. It is forecasted that the total export turnover for the entire year may reach a historic milestone of US$400 billion.

More News

Thai Binh intensifies cooperation with Russian localities

Thai Binh intensifies cooperation with Russian localities

A delegation from the northern province of Thai Binh, led by Chairman of the provincial People’s Council Nguyen Tien Thanh, on October 10 met with representatives of the Moscow Chamber of Commerce and Industry, along with several Russian businesses.
Ho Chi Minh City partners with nine provinces to boost import and export activities

Ho Chi Minh City partners with nine provinces to boost import and export activities

VCN - Ho Chi Minh City (HCMC) and nine provinces in the northern and north-central regions are cooperating in socio-economic development, leveraging each region's advantages and potential to boost import and export activities.
Vietnam

Vietnam's second rice brand enters picky Japanese market

Japonica - AAN has become the second Vietnamese rice brand to have entered Japan, with a ceremony held on October 9 to debut the produce.
Enterprises need to be ready to respond to trade defense

Enterprises need to be ready to respond to trade defense

VCN - According to the Department of Trade Defense, through the process of protecting the rights of Vietnamese manufacturing and exporting enterprises in each trade defense case, the outcome of the appeal depends largely on the quality of coordination between the parties involved.
Foreign investors interested in green development, semiconductor industry in Vietnam

Foreign investors interested in green development, semiconductor industry in Vietnam

Green, clean development and semiconductor chip production are among the sectors in Vietnam that foreign investors are interested in, according to VinaCapital CEO and Founding Partner Don Lam.
Vietnam’s stainless steel exports under dual investigation

Vietnam’s stainless steel exports under dual investigation

The US Department of Commerce (DOC) has initiated an anti-dumping and countervailing duty investigation into corrosion-resistant steel (CORE) imported from Vietnam, alongside nine other countries and territories.
F&B industry to reach 30 billion USD in 2024

F&B industry to reach 30 billion USD in 2024

The Ministry of Industry and Trade (MoIT) forecasts that the revenue of the food and beverage (F&B) industry will grow by 10.92% this year, reaching more than 720 trillion VND (29.8 billion USD).
Self-sufficiency in raw materials critical for garment, footwear

Self-sufficiency in raw materials critical for garment, footwear

Vietnam needs breakthrough solutions to upgrade the value chains of the garment and footwear industries with the focus on achieving self-sufficiency in raw materials to increase added value and develop sustainably.
To successfully export fresh coconuts to China

To successfully export fresh coconuts to China

VCN - The large demand of the Chinese market not only exposes a "golden” opportunity to the Vietnamese coconut industry, but also poses potential risks for businesses if there is no systematic investment in raw material areas as well as strict control over the cultivation, harvesting, and processing processes...
Read More

Your care

Latest Most read
Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it r
100 most valuable Vietnamese brands on the limelight

100 most valuable Vietnamese brands on the limelight

This year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.
Need to quickly act to catch up with the "green" trend

Need to quickly act to catch up with the "green" trend

VCN - With the movement from the global level to Vietnam's main markets, as well as the strong commitment of the Vietnamese Government, the trend of "compulsory green/sustainable transformation" has become clear to Vietnamese businesses instead of volunta
Businesses cooperate to develop advanced technology

Businesses cooperate to develop advanced technology

VCN - According to experts and enterprises, the cooperation among enterprises helps optimize production processes through sharing technology and knowledge.
Export target for 2024 set at US$400 billion

Export target for 2024 set at US$400 billion

Since the beginning of the year, Vietnam's export activities have continued to recover. It is forecasted that the total export turnover for the entire year may reach a historic milestone of US$400 billion.
Mobile Version