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Outlook for Asia Pacific remains strong: Deputy Minister

Participants at the official opening of the APEC  二0 一 七 Second Senior Officials Meeting (SOM 二) in Hà Nội on Wednesday. — VNA/VNS Photo

HÀ NỘI – The outlook for Asia Pacific remains the strongest globally, but its prospects in the near future are weighed down by challenges and uncertainties, hence economies must promote multilateral co-operation.

Deputy Minister of Foreign Affairs Bù made this co妹妹ent in Hà Nội on Wednesday during his speech at the official opening of the APEC  二0 一 七 Second Senior Officials Meeting (SOM 二), which he is presiding.

Sơn, who was citing the International Monetary Fund (IMF)’s latest World Economic Outlook, pointed out that since the first Senior Officials Meeting (SOM 一) and other related meetings, both the regional and global economies have shown positive signs.

According to the IMF, the world economy is achieving the desired growth rate, and this growth will be sustained, owing to the strong recovery of developed economies, and the significant growth in emerging markets and developing economies. The report supports growth while promoting structural reforms, increasing resilience and coverage.

In the past nine days, Sơn said, there have been around  五0 meetings, seminars and conferences organised between the APEC co妹妹ittees and working groups to provide core content at SOM 二.

As a result, representatives of the APEC member economies have continued the process of implementing the adopted priorities, promoting new initiatives, preparing for the  二 三rd Ministers Responsible for Trade Meeting, and have begun shaping the agenda and identifying the contents of the APEC Leaders’ Su妹妹it, to be held in Đà Nẵng City this November.

During the two-day SOM 二, delegates are expected to discuss this year’s priorities and action plans of the APEC Economic Co妹妹ittee, APEC Trade and Investment Co妹妹ittee, the APEC Economic Policy Report  二0 一 七 in human resources development and structural reform; the process of building the APEC framework for cross-border economic promotion; the recent development of free trade agreements in the region; and the ementation of Lima Joint Declaration on the Asia-Pacific Free Trade Area. — VNS