The 10th APEC Ministerial Meeting in Malaysia in 1998, during which Vietnam, Russia and Peru were admitted to APEC. (Photo: VNA) The accession to APEC on November 14, 1998 marked a big step forward in Vietnam’s foreign policy of door opening, multilateralisation, diversification and international economic integration, which created a driving force for the country’s renewal and integration during the past two decades. This is the assessment of Deputy Prime Minister and Foreign Minister Pham Binh Minh in an article titled “20 years in APEC: from a strategic vision to Vietnam’s imprints” on the occasion of Vietnam’s 20-year membership in the Asia-Pacific Economic Cooperation (APEC) forum. According to Deputy PM Minh, as the leading economic cooperation mechanism in Asia-Pacific, a region home to global economic, commercial and technological hubs, APEC has brought various benefits to Vietnam in terms of strategy, economics, trade and investment, thus contributing to the country’s comprehensive development. First of all, it is noteworthy that half of Vietnam’s 28 strategic, comprehensive and key economic and trade partners are members of APEC. Together, they account for 75 percent of the country’s total foreign trade, 78 percent of direct investment and 79 percent of foreign tourists. In addition, 14… Read full this story
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