Substantial shifts, unseen around the globe in more than a decade, affirm that in the 21st century, the Asia – Pacific continues to be the most dynamic developing region and plays a leading role in international economic integration. This region comprises 10 out of the 20 largest economies in the world. The drift of all economic powers towards this region shows the more clearly cooperative, but also competitive, tendency.
Contribution to the common prosperity of the entire region
Today, the Asia – Pacific is giving opportunity to all countries in the world. The United States shares the Pacific coast; Europe has historical relations; and Indian Ocean coastal countries are tied to the Pacific Ocean through the Strait of Malacca. The economic prosperity of each country in the region, whether it is the United States, China, Japan, South Korea, India or ASEAN countries, contributes to the prosperity of the whole region. And in return, a prosperous Asia also creates strong momentum for the development of each country in the region. The development of the region is associated with the rest of the world. Hence, the big countries placing the Asia – Pacific in a priority position in their policies appears inevitable.
| In the new strategy nowadays, Asia – Pacific in general and the Asia-Pacific Economic Cooperation (APEC) forum in particular are of great importance for . Vietnam’s major policies are oriented to help strengthen cooperation mechanisms and economic multi-links in Asia – Pacific, the ASEAN community, APEC forum and the whole region, said Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh, at the APEC in the 21st Century Asia-Pacific Conference recently organised in Hanoi. |
In economic scale, the 21 member economies of the Asia – Pacific Economic Cooperation Forum (APEC) account for 54 per cent of the world’s gross domestic product (GDP) and 44 per cent of global trade and services. Since the 21st century began, the Asia – Pacific has consistently been the fastest growing region in the world. According to statistics, although the global economic growth slowed down in the 2007 – 2012 period, the total economic output of emerging nations in the region added nearly 50 per cent.
In a speech to the Centre for Strategic and International Studies (CSIS) in the Unites States in July 2013, Vietnamese President Truong Tan Sang said tremendous opportunities that Asia – Pacific have created are pushing up dynamic cooperation and connectivity trends. Regional forums and connections like APEC and ASEM continue to play important roles in linking Pacific Ocean coastal nations with Asia and Europe with Asia.
In recent years, apart from enforcing signed bilateral and multilateral free trade agreements (FTAs), the countries are also pushing for stronger, broader and deeper economic links at various levels, scales and spaces, such as the Trans-Pacific Strategic Economic Partnership (TPP) Agreement, the Regional Comprehensive Economic Partnership (RCEP), and Northeast Asia Free Trade Area. All these links bind together a large sector of the world economy and will induce significant changes in it, helping generate new development momentum while opening up the pathway to the Free Trade Area of the Asia Pacific (FTAAP). The successful implementation of these links has strategic importance to all of us, said President Truong Tan Sang.
As for TPP, this is not only a free trade agreement of a super-large region, which accounts for almost 40 per cent of global GDP and 30 per cent of global trade, but is also known as the pattern of the 21st century economic link. TPP negotiations are expected to be completed in 2014. The ambitious agreement will result in the full opening of markets, the removal of investment and investment restrictions in the choose-quit principle instead of the choose-give principle, and the opening of public procurement market and financial services. If TPP is concluded in 2014, it will bring great opportunities for its members.
ASEAN has played an important role
In the Asia – Pacific region, Southeast Asia has emerged as a “strategic axis” and a strategic competitive area among many powers. Mentioning Southeast Asia, or in a broader sense – East Asia and the Asia -Pacific, the Association of Southeast Asian Nations (ASEAN) with ten members, 600 million people and total GDP of US$2,310 billion, is definitely catching the focused attention of world powers as well as the world’s largest political – economic centres. ASEAN is pushing the formation of the Common Community in 2015, serving as a nucleus of regional cooperation processes and playing an important role in building a region of peace, stability and cooperation.
The central role of ASEAN has been recognised with some important economics and security achievements, has been a peace-ensuring factor, and has become a growth engine for the world economy. The formation of the ASEAN Community will create a “playground” for countries commonly committed to sustainable development, as well as peace, stability and prosperity for this region.
Economically, ASEAN is the intersection of many economic – trade network connections in the Asia – Pacific region. ASEAN is striving to integrate bilateral and multilateral free trade agreements and push towards a free trade area for the whole region. This region-connecting trend will be a strong catalyst for economic relationships and overlapping interests among countries, and a guarantee for long-term peace, stability and prosperity.
All major partners of ASEAN like China, Japan, the United States, India, Russia and the European Union (EU) have adopted and implemented pro-Asia- Pacific policies with a new scale and intensity, suitable for rapid regional and international changes. They particularly give high priority to strengthening and promoting relations with ASEAN and supporting the construction of ASEAN Community, as well as ASEAN’s central role in shaping the regional structure and stepping up cooperation to respond to challenges ahead.
Duc Binh
Đăng ký: VietNam News