Participants address a roundtable meeting on the theme of "Stronger Joint Action for APEC's Shared Vision", held by the Ministry of Foreign Affairs on December 17, 2015 in Ha Noi. — VNS Photo Linh Anh

HA NOI (Biz Hub) — Viet Nam has been preparing for the Asia-Pacific Economic Cooperation (APEC) forum 2017 in a comprehensive manner, according to Deputy Foreign Minister Bui Thanh Son.

Son made the comment at a roundtable on the theme of "Stronger Joint Action for APEC's Shared Vision", held by the Ministry of Foreign Affairs on December 16, 2015 in Ha Noi.

"Hosting APEC 2017 is a priority in our foreign policy towards 2020," Son said, added that building on the successful experience of APEC 2006, Viet Nam's second time hosting APEC will allow the country to contribute to promoting shared interests within APEC.

Since its inception in 1989, APEC has played leading role in enhancing co-operation, economic integration and prosperity in the Asia Pacific region, benefiting 40 per cent of the global population, raising intra-APEC trade revenue to nearly US$20 trillion and aggregate GDP to account for 57 per cent of global GDP, Son said.

He added that APEC assumes strategic importance in Viet Nam's renovation, development and international integration efforts, accounting for 78 per cent of Viet Nam's foreign direct investment, 79 per cent international trade value and 79 per cent foreign visitors.

13 out of 15 FTAs that Viet Nam has signed or is negotiating are with APEC partners, he said.

Son said that together with assuming ASEAN chairmanship in 2020 and preparing Viet Nam's candidacy for non-permanent membership in the UN Security Council candidacy for the 2020-2021 term, as well as taking efforts to fulfill the country's WTO accession commitments by 2018, APEC 2017 is a vivid example of Viet Nam's resolution to comprehensive international integration and enhanced multilateral diplomacy.

A national Committee for APEC 2017 has been set up with five sub-committees on substantive matters, logistics, protocol, culture and information and health and security, Son said.

Established in November 1989, the Asia-Pacific Economic Cooperation (APEC) forum now comprises 21 economies. Viet Nam became an APEC member in 1998. The country first hosted the APEC Year in 2006.

APEC 2017 will be held in the central city of Da Nang on October 2017. 

Peru will host APEC 2016, held in the Peruvian capital of Lima. — VNS