Deputy PM highlights importance of boosting open trade in APEC

Deputy Prime Minister Bui Thanh Son highlighted the importance of promoting open trade when addressing a dialogue between APEC leaders and representatives of the APEC Business Advisory Council (ABAC) within the framework of the 32nd APEC Economic Leaders’ Week in Gyeongju city, the Republic of Korea, on October 31.

Held annually, the dialogue promotes public–private cooperation, encouraging business participation in APEC initiatives, and contributing to building a prosperous and sustainable Asia-Pacific region.

Deputy PM Son acknowledged and praised recommendations of the APEC business community, stressing the need for APEC economies and businesses to collaborate in promoting open trade, sustainable supply chains, and responsible digital and AI transformation.

He said that amid global economic challenges, APEC should sustain traditional growth motivations such as trade and investment, while promoting new drivers like science, technology, and digital transformation.

He outlined three priorities for APEC economies, including boosting internal trade and investment, and that with external partners, enhancing the regional connectivity of infrastructure, institutions, and people-to-people exchanges, and taking advantage of digital transformation as a new growth engine. He noted that these measures form the foundation for strengthening supply chains, expanding cooperation, and ensuring sustainable regional growth.

Deputy PM Bui Thanh Son called on businesses to collaborate with governments in promoting responsible, open, and inclusive AI during talks with ABAC representatives on digital transformation./.