The APEC year 2006 has successfully ended and left behind an impressive mark of Vietnam in the development of APEC. It also marked a new and comprehensive development in the integration process of Vietnam in both the regional and global economies.

In more than one year of preparation for 2006 APEC, complex changes in the region and the world, especially the unpredictable situation in the Korean peninsula, the nuclear matter of Iran, epidemics and calamities in many places, the depreciation of the US dollar, the rise in the price of oil, the of the Dohar negotiation round etc have significantly affected the cooperation and development of APEC. The assembly of forces in APEC is diversified and complex, the cooperation and struggle are intertwined, particularly in security and political issues. This context has offered both opportunities and challenges, advantages and difficulties which required us to prudently and flexibly deal with so as to ensure our interests, requirements and responsibility of the host, reach agreement and consensus among member economies, maintain multilateral interests, contribute to the strengthening and enhancement of bilateral relationship, especially with major economies which have important roles and influence in APEC and the world.

Over the past 18 years of existence and development, APEC member economies have had a common awareness in promoting trade and investment according to the Bogor objectives to build Asia-Pacific into an open and free trade and investment area which will be completed in 2010 by developed economies and in 2020 by developing economies. However, due to the differences in developmental level, historical, political and social background between the 21 member economies, the cooperative contents and priority are very diversified. Some economies want to focus on the cooperation on security and political matters while some others like to concentrate on economic, trade and scientific-technological cooperation, narrowing the gap in developmental levels and sustainable development. Some others pay a lot of attention to dialogue on religion and faiths. On the other hand, the deep and far-reaching impact of globalization, the intensification of economic associations in the region, the coming into being of bilateral and regional agreements on free trade areas, the danger of terrorist attacks and non-traditional security threats have posed new challenges to APEC. They are sustainable development in APEC, the impasse of the Dohar negotiation round and its consequences on APEC in the implementation of the Bogor objectives, the dynamism of APEC in a fast changing environment in the world and region, challenges in the aspects of security, trade safety in the region in relation to terrorist and non-traditional threats, natural catastrophes (tsunami, typhoon, flood, earthquake, forest fire etc) and epidemics, especially the danger of a bird flu outbreak, are still great.

With this situation, during the process of preparing and organizing the APEC year 2006, we always followed the basic principles of APEC which is equitable, mutual benefits, consensus, voluntary, and non-binding; balancing the position of the host; close cooperation with member economies, relevant committees and working groups, and the APEC secretariat in Singapore; promoting all possibility to reach agreement between relevant parties. Our efforts which were welcomed by other members, contributed to the enhancement of cooperation and coordination of actions between member economies, and the implementation of priorities and initiatives of the APEC year according to the slogan "Heading to a dynamic community for sustainable development and prosperity. Of the success of APEC 2006, Vietnam has made an active contribution and initiatives and proposals, such as the Hanoi action plan to implement the Busan roadmap to achieve the Bogor objectives, reforming APEC to improve its dynamism, effectiveness and association, the Hoi An Declaration on tourism and the APEC action plan to prevent and treat bird flu and other epidemics.

Vietnam?s initiatives and proposals have contributed to the diversity of cooperative activities in APEC. New developments in the APEC 14 Summit Meeting in Hanoi were recognized by member economies and international friends, while effective and suitable measures were introduced to deal with problems faced by APEC. Concrete results are as follows:

Having passed the Hanoi action plan to implement the Busan roadmap to achieve the Bogor objectives, and affirmed the determination of APEC to strictly abide by the Bogor objectives on liberalization and facilitation of trade and investment by 2010 by developed economies and by 2020 by developing economies.

Announced the Declaration of APEC 14 Meeting on the Dohar agenda which affirmed the desire and determination of renewing the negotiation and the readiness to break through the impasse. The Meeting also committed to be flexible in dealing with relevant matters in key aspects such as agriculture, taxation on industrial products, and trade in services in order to accelerate the negotiation.

The significance of the 14^th APEC Meeting is that it was issued after Vietnam had just become the 150^th full member of the WTO. Thus the declaration was not only a strong message from APEC but also a contributory voice of Vietnam- a new member, to the international community to foster the negotiation and enhance the multilateral system of international trade.

At the same time, APEC leaders have reviewed the idea of the APEC business advisory council (ABAC) on the establishment of an Asia-Pacific Free Trade Area (FTAAP) in the future, emphasized that it is a long-term perspective, and instructed APEC senior officials to study and submit a report to the APEC leaders? meeting next year.

- Reached an agreement on a number of measures to foster trade, investment, economic and technical matters such as the adoption of six model clauses for relevant chapters of bilateral and multilateral agreements on free trade areas to be the used by member economies in the preparing RTAs/FTAs, the decision of a further 5% reduction in commercial transaction costs by 2010, and the adoption of 2 model guides for the implementation of APEC initiatives on intellectual property rights, as well as against fakes and counterfeits.

- Adopted a list of APEC 2006 initiatives on human security and anti-terrorism, safe investment and business environment in the region, and the extension of the task force?s operation in the next two years.

- Adopted recommendations for reforms in APEC with specific measures, and improvements in the effectiveness and dynamism of APEC.

- Agreed on concrete measures and actions, cooperative projects and programs to promote sustainable development such as enhancing the struggle against corruption, transparency, supporting developing member economies to increase their integration capacity, developing human resources, and structural reforms, improving the competitiveness of small and medium enterprises.

The above-mentioned results are modest considering APEC?s potential, but we hope that these results will create further strong drives toward effective and flexible cooperation in APEC. More opportunities are open for member economies to expand exchanges and cooperation, mutually supplement the strong points of member economies for sustainable development and prosperity. The adopted initiatives and decisions made at the Hanoi Summit Meeting will open a bright perspective for APEC?s development, greater cooperation and the admission of new members as APEC has proved to be strongly vital, dynamic and important for the region and the world. APEC economies will have more favorable conditions to cooperate in economic development, trade and investment promotion, sustainable development, human security and a safe business and investment environment. Given the objectives of strengthening multilateral trade systems and promoting trade and investment, APEC will bring into full play the role of the most dynamic developmental forum in the world, promoting the renewal of the Dohar negotiation round and the implementation of the Bogor objectives based on the Busan roadmap and the Hanoi action plan. Results of the APEC 2006 year showed that the biggest contribution of Vietnam was to nurture and bring into full play a cooperative spirit in APEC, lay the first bricks on the road to reform APEC and propose a comprehensive action plan to foster the implementation of the Busan roadmap towards the Bogor objectives.

The APEC 2006 year has closed, but the spirit of the APEC 2006 slogan "Towards a dynamic community for sustainable development and prosperity", and the contents of the Hanoi action plan and the issue of reforming APEC will strongly live in the years to come. The success of the APEC 2006 year is significant to Vietnam and helps to heighten Vietnam?s position and image in the APEC community, the region and the world, and further affirm the recent appreciation of the world about Vietnam which has great potential, dynamic economic development, a stable society as well as becoming an attractive rendezvous for investment in the region as it steadily integrates into both the regional and the world economy.

The success of the 14^th APEC Meeting and eventful diplomatic activities in adjacence to the Meeting, and important results attained in the official visits of the leaders of China, the United States, Russia, Japan and Chile, as well as contracts and major projects signed during this period is clear evidence of the correct external policies set forth by the 10^th Party Congress "Making our existing international relations deeper, more stable and sustainable ? Actively pursuing economic integration according to the set roadmap, suitable to the national development strategy to 2010 and the 2020 vision?. Enhancing and developing trustworthy bilateral relationships with strategic partners?".

New opportunities are opening to our country. Bearing in mind the spirit of actively integrating into regional and world economies in order to make a turning point in international economic integration and external economic activities, we need to grasp and seize opportunities, bring into full play our strong points and domestic resources, make good use of and exploit external advantages and resources, enhance economic cooperation, expand the markets, attract investments, mobilize resources for the national industrialization and modernization, and successfully implement the goals of the 2006-2010 socio-economic development.

Pham Gia Khiem
Source: Communist Review