Hai phong: Initiatives put forward by the APEC Business Advisory Council (ABAC) are a driving force for the Asia-Pacific region’s sustainable development, State President Luong Cuong said while addressing the council’s third meeting (ABAC III) and relevant events in the northern port city of Hai Phong. President Cuong emphasised that throughout its 36-year journey of formation and development, the Asia-Pacific Economic Cooperation (APEC) forum has affirmed its role as a leading economic cooperation mechanism in the region, and a driving force for growth and integration, helping to ensure peace, stability, connectivity, and prosperity across the Asia-Pacific.

According to Vietnam News Agency, the ABAC initiatives discussed during the meeting are seen as pivotal in steering the region towards sustainable development. President Cuong highlighted the importance of these initiatives in fostering economic growth and regional integration. He noted that the APEC forum has been instrumental in securing a stable and prosperous future for the Asia-Pacific, benefiting millions of people across the region.

The meeting in Hai Phong brought together leaders and representatives from various sectors to discuss strategies for enhancing the region’s economic cooperation. The discussions focused on how the ABAC’s proposals can be effectively implemented to achieve long-term sustainability goals. Participants underscored the need for collaborative efforts among member economies to address common challenges and harness opportunities for shared growth.

President Cuong reiterated the commitment of APEC member economies to work together in overcoming obstacles and leveraging the APEC platform for mutual benefit. The initiatives were praised for their potential to drive economic integration and ensure a resilient future for the Asia-Pacific region.