Vietnam’s 20-year APEC membership: strategic vision

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.
  • APEC focuses on promoting regional, global economic connectivity
  • Vietnam considered top target for cross-border investment in APEC

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.

The 10th APEC Ministerial Meeting in Malaysia in 1998, during which Vietnam, Russia and Peru were admitted to APEC.
The 10th APEC Ministerial Meeting in Malaysia in 1998, during which Vietnam, Russia and Peru were admitted to APEC.

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 out of 16 free trade agreements (FTAs) that Vietnam has signed or is negotiating, concerns 17 APEC members.

Second, APEC membership has significantly enhanced Vietnam’s position in the international arena. As an APEC member, Vietnam has an equal voice with many world leading economies in the building and formation of regional economic and commercial rules and regulations.

Third, the APEC forum is an important channel for Vietnam to promote bilateral ties, helping deepen ties with partners, consolidating the peaceful environment for national development.

Fourth, joining APEC and carrying out commitments on door opening for trade and investment and business facilitation has helped push reform and the completion of institutions and policies in the country towards meeting international commitments. It also creates the prerequisite for Vietnam to participate in larger playing fields with higher-level commitments such as the World Trade Organisation (WTO) and FTAs, including new-generation FTAs with high standards. The implementation of international commitment also gives the country the leverage to realise its resolve to build a facilitating and action-oriented government of integrity to serve the people and businesses.

Fifth, as an APEC member, Vietnam has received help to enhance its capacity of international integration.  The implementation of commitments, synchronisation of policies, and APEC’s support projects have helped improve the international integration capacity for ministries, sectors, local administrations and enterprises, as well as deepen the knowledge and experience of officials involved in international integration.

Lastly, APEC brings great potential and opportunities for Vietnamese enterprises in accessing markets and advanced technology, favourable investment and business environment and convenient transport, and seeking strategic partners.

Deputy PM Minh highlighted Vietnam’s active role in APEC, thus contributing to peace, stability, cooperation and economic connectivity in the region, maintaining APEC’s role as the leading economic cooperation mechanism in Asia-Pacific.

Vietnam is among a few APC members having hosted APEC summits twice, in 2006 and 2017.

It is also among the most active members in proposing ideas and projects, authoring more than 100 projects in various fields.

The country has held many positions in APEC committees and working groups. Its business community also actively participates in and makes many recommendations to APEC.

The Deputy PM affirmed that APEC will continue to be one of the main points in Vietnam’s foreign policy in the current development period.

“Vietnam will continue to accompany APEC in the next development period, join hands in building a strategic vision on an Asian-Pacific community of peace, stability, dynamism, innovation, and prosperity,” he stressed. 

VNA

Other News

NA Chairman pays tribute to fallen heroes in Ho Chi Minh City

NA Chairman pays tribute to fallen heroes in Ho Chi Minh City

Chairman of the National Assembly (NA) Tran Thanh Man on July 26 offered flowers and incense in tribute to fallen heroes at memorial sites in Ho Chi Minh City, on the occasion of the 79th anniversary of War Invalids and Martyrs' Day (July 27, 1947–2026).

Key Party, State leaders attend live television programme honouring fallen heroes

Key Party, State leaders attend live television programme honouring fallen heroes

Jointly organised by Vietnam Television (VTV) and the People's Committees of Hanoi, Ho Chi Minh City, Tuyen Quang and Quang Tri provinces, the programme paid tribute to heroic martyrs who sacrificed their lives for the nation while honouring the forces engaged in the search, recovery and identification of fallen soldiers' remains.

Vietnam strictly prohibits all forms of forced labour: Foreign Ministry

Vietnam strictly prohibits all forms of forced labour: Foreign Ministry

Vietnam will continue working with the US in a constructive and cooperative spirit, while urging the US side to fully take into account the measures Vietnam has adopted when adjusting tariffs on Vietnamese goods, consistent with the actual situation and Vietnam's ongoing legislative and enforcement push.

Vietnam leaves lasting imprint at AMM-59: Deputy FM

Vietnam leaves lasting imprint at AMM-59: Deputy FM

The Vietnamese delegation led by Foreign Minister Le Hoai Trung embodied the foreign policy line of the 14th National Party Congress by acting proactively, responsibly and with leadership inside ASEAN.

Vietnam urges relevant parties to fully implement DOC in East Sea

Vietnam urges relevant parties to fully implement DOC in East Sea

PSNews - Vietnam has called on parties concerned to exercise restraint, act in accordance with international law, and fully implement the Declaration on the Conduct of Parties in the East Sea (DOC), Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang said at the ministry’s regular press briefing on July 23.

Vietnam, US pledge to deepen Comprehensive Strategic Partnership

Vietnam, US pledge to deepen Comprehensive Strategic Partnership

At the meeting, Trung welcomed Rubio's participation and active contributions to the ASEAN meetings, saying they reflected the US' commitment to maintaining engagement in the region, supporting ASEAN centrality, and contributing to peace, stability and prosperity in Southeast Asia.

AMM-59: Vietnam proposes substantive, sustainable ASEAN-EU ties

AMM-59: Vietnam proposes substantive, sustainable ASEAN-EU ties

Looking ahead, Vietnam proposed the two sides prioritise stronger regional resilience by scaling up energy cooperation, pooling financial resources and cracking down on illegal, unreported and unregulated fishing, all aimed at building a resilient and sustainable blue economy.

ASEAN Regional Forum adopts Manila Plan of Action for 2026–2036

ASEAN Regional Forum adopts Manila Plan of Action for 2026–2036

Vietnamese Minister of Foreign Affairs Le Hoai Trung affirmed that ASEAN would continue working with China to fully and effectively implement the Declaration on the Conduct of Parties in the East Sea (DOC) and to conclude at an early date a substantive and effective Code of Conduct in the East Sea (COC) that is consistent with international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Caring for revolution contributors reflects Vietnam's deep humanitarian value: PM

Caring for revolution contributors reflects Vietnam's deep humanitarian value: PM

The PM urged all-level authorities, sectors, localities, and the public to fully implement relevant Party resolutions and directives as well as preferential policies for revolution contributors, push ahead with the 500-day campaign, expand gratitude movements, accelerate housing support for children of Agent Orange/dioxin victims and strengthen patriotic education.

Press release on fourth working day of 14th Party Central Committee's third plenum

Press release on fourth working day of 14th Party Central Committee's third plenum

The Party Central Committee on July 23 discussed a proposal to transfer responsibility for giving advice on mass mobilisation work from the Party Central Committee's Commission for Information, Education and Mass Mobilisation to the Party Committee of the Vietnam Fatherland Front and central mass organisations, as well as a proposal to rename the Commission for Information, Education and Mass Mobilisation as the Commission for Information and Education.

Vietnam proposes three priorities to advance Mekong–RoK cooperation

Vietnam proposes three priorities to advance Mekong–RoK cooperation

In its capacity as co-chair in 2025, Vietnam worked closely with the RoK and the Mekong countries to maintain high-level exchanges, enhance the effectiveness of the Mekong–RoK Business Forum, organise the Mekong–RoK Forum for the first time to share project outcomes and implementation experience, and promote innovative solutions in water resource management through the third Mekong–RoK Water Forum.

Vietnam reaffirms support for UNRWA, readiness to assist Gaza recovery efforts

Vietnam reaffirms support for UNRWA, readiness to assist Gaza recovery efforts

During a meeting with the UNRWA official in Manila, the Philippines on July 22, Deputy Foreign Minister Dang Hoang Giang affirmed Vietnam’s consistent support for UNRWA’s role and operations, praising its efforts to maintain humanitarian, educational and healthcare assistance for Palestinians amid the complex situation.

Vietnam attends ASEAN foreign ministers' meetings with partners

Vietnam attends ASEAN foreign ministers' meetings with partners

The Vietnamese delegation proposed making energy security and transition a pillar of ASEAN-Canada relations, and urged Canada to support the implementation of the ASEAN Power Grid and expand cooperation in renewable energy, hydrogen, energy storage and nuclear power for civilian purposes.