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16 November 2024

Vietnam Strengthens Ties At APEC Summit

Bilateral meetings with Indonesia, New Zealand, and Hong Kong lead to ambitious trade discussions

During the recent APEC 2024 Leaders’ Week held in Lima, Peru, Vietnamese President Luong Cuong engaged in several significant bilateral meetings aimed at strengthening ties with key partners, including leaders from Indonesia, New Zealand, and Hong Kong. The discussions on November 15 highlighted Vietnam's commitment to enhancing cooperation and mutual support among nations within the Asia-Pacific region.

Among the notable meetings, President Cuong had an engaging conversation with Indonesian President Prabowo Subianto, where both leaders expressed satisfaction with the positive evolution of their countries' longstanding friendship and strategic partnership. Cuong congratulated Subianto on his recent election, emphasizing his confidence in Subianto's ability to lead Indonesia toward achieving national priorities.

Both leaders discussed elevatory pathways for their bilateral relations, with plans to commemorate the 70th anniversary of diplomatic ties between Vietnam and Indonesia, and the 80th anniversary of both nations' independence celebrations set for 2025. They agreed to expand economic cooperation, targeting a substantial increase of two-way trade to $18 billion. Indonesia expressed its commitment to easing the entry of Vietnam's agricultural exports, especially Halal products, to its markets and fast-tracking negotiations for establishing rice trade agreements.

Cooperation was also touched upon concerning fisheries, with Indonesia acknowledging Vietnam's proactive steps to curb illegal fishing. They agreed to explore innovative partnerships to bolster mutual benefits.

With global issues at the forefront, each leader reiterated the importance of regional collaboration within various international organizations such as ASEAN, the UN, and APEC. Particularly, they underscored the significance of maintaining peace and stability over contested maritime zones, asserting the need for peaceful resolution of disputes based on international law.

Shifting focus, Cuong also met with New Zealand’s Prime Minister Christopher Luxon, where there was mutual enthusiasm about the extensive growth of their strategic partnership as they approach the 50th anniversary of their diplomatic relations and the 5th anniversary of their strategic partnership. They set ambitious goals of increasing bilateral trade to $3 billion by 2026 and discussed forging partnerships on climate adaptation, green technologies, digital economies, and agriculture.

Luxon emphasized Vietnam's status as New Zealand's priority partner within Asia, proposing collaborative efforts to create actionable pathways to fortify their relationship.

Further engagements included Cuong meeting with John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region. They discussed how their countries could work together to reinforce friendship and cooperative dynamics. Cuong reiterated his support for Hong Kong’s development and the stable governance of its legal frameworks. Lee highlighted Vietnam as Hong Kong’s second-largest trading partner and identified ways to expand cooperation across sectors like infrastructure and innovation.

Throughout these meetings, Cuong placed great emphasis on cooperative frameworks and mutual exchanges aimed at sustainability and growth within economic landscapes. Discussion of regional security issues remained prominent as leaders underscored their dedication to resolving disputes peacefully and maintaining navigational freedom.

Vietnam's desire to establish itself as a strong regional player was evident throughout these meetings. The discussions encapsulated not only aspirations for economic and trade enhancement but also significant commitments to addressing pressing regional matters, fostering relationships built on shared goals, and supporting collaborative frameworks for mutual growth.

Overall, APEC 2024 proved to be more than just discussions; it was about laying the groundwork for future partnerships, cooperation, and collective resilience among nations facing global shifts.

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