06.06.2021, 17:06

APEC meeting seeks solutions for smooth circulation of goods

 
APEC meeting seeks solutions for smooth circulation of goods

Vietnamese Minister of Industry and Trade Nguyen Hong Dien attends the virtual meeting.   

NDO - Member economies of Asia Pacific Economic Cooperation (APEC) need to continue free and open trade and investment activities while implementing initiatives to ensure the efficient and smooth operation of the regional supply chain of goods and services and facilitatethe movement of essential goods.


The remark was made by Vietnamese Minister of Industry and Trade Nguyen Hong Dien at the virtual meeting of the APEC Ministers Responsible for Trade held on the evening of June 5 (Vietnam time).

The 27th APEC Ministerial Meeting, chaired by Hon Damien O’Connor - New Zealand’s Minister for Trade and Export Growth, discussed the important role of trade in tackling the impacts of the COVID-19 pandemic and in enabling a strong economic recovery for all people.

Minister Nguyen Hong Dien said that to ensure economic development and social stability, APEC member economies should be united and determined to maintain free and open trade and investment in addition to strengthening regional economic integration and ensuring APEC's leading role in the Asia-Pacific region.

The minister suggested that APEC member economies focus on discussions towards the completion of the Putrajaya Vision 2040 this year, which will provide the basic and important foundation to guide the forum's cooperation activities in the next two decades.

In addition, free and open trade and investment activities need to be promoted while implementing initiatives to ensure the smooth operation of the regional supply chain of goods and services.

In the context of social distancing due to the COVID-19 pandemic in many economies, e-commerce and digital transformation play an even more important role in economic development and daily life.

Therefore, APEC needs to strengthen cooperation in innovation and digital trade to ensure infrastructure for effective digital connectivity and improve digital capacity for businesses and human resources, especially forwomen and people with disabilities.

In particular, the current pressing issue is the production and distribution of COVID-19 vaccines, which is a humanitarian issue that is considered the most effective way to ensure the health of the people and the community, Dien noted.

Therefore, Vietnam supports APEC cooperation activities in order to ensure the safe, effective, fair and timely production and supply of vaccines, reduce barriers to intellectual property, and enhance the sharing ofinformation and technology transfer for vaccine production.

The minister added that Vietnam unanimously approved the statement of the 27th ministerial meeting on the supply chain of COVID-19 vaccines.

At the meeting, APEC Ministers also focused on discussing trade policies to respond to the COVID-19 pandemic and their support for the multilateral trading system.