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APEC Viet Nam 2006
APEC Viet Nam 2006
Viet Nam and APEC

The year 1998 witnessed a milestone in Viet Nam’s international integration: Viet Nam became a full member of Asia-Pacific Economic Cooperation (APEC).

APEC membership makes great sense to Viet Nam, both politically and economically.

Politically, as a member of APEC, Viet Nam gains more prestige and stronger voice in the international aren. Annual meetings among Ministers of Trade and Foreign Affairs, and especially among Leaders of APEC Economies (since 1993), are precious opportunities for high-level bilateral talks and decision on important regional issues.

Economically, Viet Nam can have better access to more funding, modern technology and managerial knowledge through stronger investment and trade with other APEC members, including the world’s top largest economies (e.g. the United States, Japan, China, Canada). APEC annual business events such as APEC CEO Summit, Investment Opportunities Fair, Dialogue between Leaders and APEC Business Advisory Council (ABAC) are effectively networking Vietnamese and regional business community for beneficial partnerships. As of December 2004, Viet Nam receives as much as 65.6% of its total foreign direct investment from APEC economies, while the latter accounts for 60% and 80% in Viet Nam’s total export and import respectively.

As a developing member economy, Viet Nam has made efforts in many areas to contribute to the realisation of APEC goals, which is to liberalise and facilitate trade and investment for the prosperity of the APEC region. Viet Nam initiated the APEC Supporting Fund for Micro Enterprises and intra-APEC Investment Promotion in 2003. The “APEC Week” was organised in Ha Noi in 2003 to facilitate broader understanding and involvement of all Vietnamese social strata in APEC. In 2005, Viet Nam actively co-sponsors the initiative on the Enhancement of APEC Work on Response and Preparedness for Avian and Pandemic Influenza. To facilitate regional business travels of both Vietnamese and other APEC people, Viet Nam joins the APEC Business Travel Card (ABTC) scheme in 2005, which allows multiple entries to different ABTC members within 3-6 months with only one visa issued by one of the ABTC members (more information available at http://www.businessmobility.org ).

As the host of APEC 2006, Viet Nam is dedicated to making APEC 2006 a great success, moving further Towards a Dynamic Community for Sustainable Development and Prosperity.
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