APEC Economic Leaders’ Week 2025: Establishing a comprehensive cooperation framework for digital transformation and AI
WVR - On the afternoon of October 28, Deputy Minister of Foreign Affairs Nguyen Minh Hang gave a press interview ahead of President Luong Cuong's working trip to attend the APEC Economic Leaders' Week 2025 and conduct bilateral meetings in Republic of Korea.
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| Deputy Minister of Foreign Affairs Nguyen Minh Hang. (Photo: WVR) |
Could you please elaborate on the significance of APEC 2025 and Vietnam's expectations for this year's Economic Leaders' Week?
Over more than three decades of formation and development, the Asia-Pacific Economic Cooperation (APEC) has become a leading regional economic cooperation and integration mechanism, with 21 member economies, including 3 of the world's top 5 economies, accounting for 46% of global trade and 61% of global GDP. The APEC EconomicLeaders' Week 2025 takes place amid rapid and complex geopolitical and geo-economic changes, with global trade facing numerous challenges, and the world undergoing profound, pivotal transformations. In this context, the APEC Economic Leaders' Week 2025 holds special significance in maintaining and strengthening the spirit of dialogue and cooperation, promoting trade, investment, and economic integration, thereby sustaining growth recovery, addressing global challenges, and shaping the future development of the region based on science, technology, innovation, and digital transformation.
With the theme "Building a Sustainable Future" and three priorities of "Connectivity", "Innovation", and "Prosperity", the 32nd APEC Summit has garnered significant attention and high expectations from APEC members and the international community.
Firstly, with the participation of senior leaders from 21 APEC member economies, the Summit is crucial in promoting high-level dialogue on major issues concerning global economy, trade, and development. Promoting dialogue, cooperation, and jointly addressing common challenges is essential for peace, stability, and development in the region and the world at present. High-level interactions among APEC economic leaders during this occasion are also expected to yield progress in resolving economic and trade issues, thereby creating a favorable international environment to promote stable trade and investment flows, sustainable growth, resilience, and inclusivity in the region and globally.
Secondly, the international community expects this year's Summit to establish comprehensive cooperation frameworks within APEC in areas such as digital transformation and artificial intelligence (AI). This is a high priority for members to maximize opportunities and minimize risks from AI development. The Summit also provides an opportunity for members to enhance cooperation in addressing issues like population aging, promoting new growth drivers, developing science and technology, creative economy, cultural industries, and more.
Thirdly, leveraging APEC's strength in connecting governments with businesses, with the participation of thousands of leading regional corporations, this APEC Economic Leaders' Week is expected to create new momentum for public-private cooperation to mobilize maximum resources for digital, green, and energy transitions, strategic infrastructure development, and economic connectivity, thereby contributing to the transformation of growth models in member economies.
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| The APEC 2025 Summit, taking place from October 31 to November 1 in Gyeongju, Republic of Korea. |
Vietnam hopes and believes that under Republic of Korea's chairmanship, the positive outcomes of APEC Year 2025 will continue to maintain its role as a driver for growth and economic integration, as APEC has affirmed over the past decades, while also promoting APEC's pioneering role in the current era of technology and innovation.
Could you please explain the significance and purpose of President Luong Cuong's trip to attend the APEC Economic Leaders' Week 2025 and conduct bilateral meetings in South Korea?
At the invitation of the President of the Republic of Korea, Lee Jae-myung, President Luong Cuoờng will lead a high-level Vietnamese delegation to attend the 32nd APEC Leaders' Week and conduct bilateral meetings in Republic of Korea from October 29 to November 1.
At this year's APEC Summit, with the status of being one of the fastest-growing economies in the region, an increasingly prominent international role, confidently entering a new era of development, especially as the host of APEC for the third time in 2027, Vietnam will continue to contribute with the highest sense of responsibility to promote APEC cooperation, strengthen multilateralism, and act together for peace, stability, and sustainable, prosperous development of the region and the world. In this spirit, President Luong Cuong's trip holds great significance on multiple fronts.
Firstly, the President's participation in the APEC Economic Leaders' Week is an important step in implementing the foreign policy line and major decisions of the Party and State, especially the Politburo's Resolution No. 59-NQ/TW on international integration in the new situation, continuing to shift in mindset and approach to international integration, from a "receiving" mindset to a "contributing" mindset, from integration to deep and comprehensive integration, from a position of a latecomer economy to an economy rising and pioneering in many new fields. The President will join APEC economic leaders in discussing major issues concerning cooperation and development, reaching directions to promote trade, investment, connectivity, science and technology, green transition, digital transformation, and many other important areas.
Secondly, President Luong Cuong will engage in interactions with many leaders of APEC economies, meet with leaders of leading global corporations and businesses, thereby contributing to deepening bilateral relations with partners and mobilizing resources to serve the country's socio-economic development goals.
Notably, the President will participate in, engage in dialogue, and deliver an important speech at the APEC 2025 CEO Summit, attended by nearly 2,000 leaders of leading regional corporations, to convey a strong message about Vietnam's potential, advantages, strategic decisions, and breakthroughs. This will help international friends continue to accompany, support, and stand alongside us in the new development phase, especially in mobilizing financial and technological resources to serve the goal of transforming growth models, promoting innovation, green transition, and digital transformation.
Thirdly, on the bilateral front, Republic of Korea is a leading economic partner of Vietnam, and in the context of the flourishing Vietnam-Republic of Korea relationship, President Luong Cuong's trip is an opportunity for both sides to continue to strengthen and deepen the solid political relationship, effectively implement high-level commitments and agreements reached in recent times, and make the good cooperative relationship between the two countries more substantive and effective, contributing to the development of each country in the current important development phase.
I am confident that President Luong Cuong's trip to attend the APEC Economic Leaders' Week 2025 and conduct bilateral meetings in Republic of Korea will be a great success, further affirming the image of a confident, self-reliant, resilient Vietnam stepping into a new era of development, contributing more responsibly and effectively to common global issues for peace, stability, cooperation, and development in the region and the world.
