Raising Vietnam’s Status in International Arena

After joining Asian Pacific Economic Cooperation (APEC), Vietnam has actively taken part in APEC’s international economic, trade and investment programmes. The country has proposed many initiatives and projects.

 

In 2006, Vietnam hosted APEC Summit and built the Hanoi Action Plan to define specific activities and cooperation strategies to implement Busan Roadmap and Bogor objectives. The successful APEC Summit 2006 was an evidence for Vietnam’s contributions to the Asian Pacific region and affirms its strength and status in the international arena.

 

APEC was also a place for Vietnam to reach many bilateral agreements, particularly with strong partners such as China, Russia, the US and Japan. Finally, APEC contributed to bringing its practical benefits for the country as APEC members accounted for up to 75% of Vietnam’s total foreign direct investment (FDI), 50% of its ODA, 73% of its export turnover and 79% of its import turnover. Joining APEC, Vietnam has opportunities to cooperate with big partners. APEC businesses in general and Vietnam in particular can benefit from APEC’s cooperation programmes because of one of the top priorities of APEC’s leaders is aiming to create favourable conditions for the business community in the process of business market and partnership expansion.

Highly appreciating the business community’s voices and cooperation in the regional cooperation, APEC leaders set up e APEC Business Advisory Council. (ABAC) in November 2005. Within the ABAC framework, the Vietnam Chamber of Commerce and Industry (VCCI) and ABAC Vietnam members have held research and assistance programmes for small and medium-sized enterprises, aiming to provide loans for them.

 

Through activities of ABAC and APEC business community, Vietnamese businesses not only take advantages of promoting their image, but also enhance their cooperation with international partners. ABAC Vietnam have successfully organised APEC CEO Summit in 2006 and many other activities within the frame of ABAC, contributing to raise the Vietnamese business community in the global market.