Apec will rise to the challenge of fostering greater cooperation within the Asia-Pacific in a changing world

Twenty-eight years ago, the Asia-Pacific Economic Cooperation forum came into being. Ever since, Apec has been growing vigorously. In a changing world and a dynamically growing Asia-Pacific, Apec is facing both new opportunities and challenges. As the host of Apec 2017, Vietnam has a mandate to work with other member economies to transform Apec leaders’ commitments into tangible results, to realise the strategic vision for an Asia-Pacific of sustainable and inclusive development in the 21st century.

The birth of Apec in 1989 took place at a time when the world was undergoing profound changes. On the basis of cooperation characterised by consensus, voluntarism, mutual benefit and mutual respect, Apec has become a meaningful forum for member economies to strengthen dialogue and understanding.

Today Apec continues to prove its vitality and resilience, as well as its role as a key driver of global economic growth and integration.

Such vitality not only stems from its wealth of young labour and rich natural resources. More importantly, it also stems from the political determination and efforts that every member economy itself has exerted to promote innovation and reforms. These achievements, along with the grouping’s progress in trade and investment liberalisation, have upheld Apec’s role as the region’s premier economic forum. Its members contribute nearly 60 per cent of global gross domestic product and 50 per cent of its trade volume.