This year Vietnam hosts the APEC Year 2006 and the 14^th APEC Economic Leaders’ Meeting. This is Vietnam’s most important diplomatic activity and a “golden” chance for other APEC member economies to know Vietnam.

In an interview with Vietnam Economic Times, Deputy Prime Minister and Foreign Minister Pham Gia Khiem said the participation in the summit by APEC leaders and official visits to Vietnam by several APEC leaders this time will create a good opportunity for Vietnam to boost political, economic and trade ties with important partners bilaterally and multilaterally.

In addition, thousands of foreign officials representing the business circles, scholars and media agencies from APEC member economies will have the chance to witness the tremendous achievements in various areas Vietnam has recorded in the past 20 years of implementing the Doi Moi (Renewal) process and policies of multilateralising and diversifying external relations, and regional and international economic integration.

The successful hosting of the APEC Year 2006 will demonstrate Vietnam’s specific and substantial contributions to the APEC after eight years of joining the forum, said Mr Khiem. It will also mark the country’s new phase of development in the regional and international integration process, thus elevating the country’s role and position in the region and the world.

The Deputy Prime Minister stressed that alongside the hosting of the APEC Year 2006, Vietnam has paid special attention to expanding multifaceted relations, particularly in economics, trade and investment.

He said with the policy of independence, self-reliance, multilateralisation and diversification of external relations, Vietnam has developed relations well with many countries in the region and the world, particularly with neighbouring and powerful countries. Vietnam has pro-actively engaged in dealing with regional and international issues, making effective contributions at multilateral forums. All this has helped build an image of a dynamic and active Vietnam in contributing to peace, stability and development in the region and the world.

Joining the WTO is the complete step in Vietnam’s international economic integration process, which is in line with the consistent guidelines and policies of the Party and State regarding the opening of doors and expansion of international integration. By joining the WTO, Vietnam will have numerous opportunities to expand markets, boost exports, raise the efficiency and competitiveness of the national economy, increase the possibility of attracting foreign investment capital and technology transfers, and especially make use of the WTO’s dispute settlement mechanism to protect Vietnam’s interests in international trade ties.

However, Mr Khiem said Vietnam will have to cope with new challenges such as pressure of competitiveness, risky economic restructuring, as well as in completing institutions and national administrative reform in line with WTO commitments and in developing human resources to meet the requirements of integration.

The diplomatic sector has identified a new task of combining diplomatic and economic activities for national development. In the face of new developments in the region and the world, Mr Khiem said it is imperative to create breakthroughs in carrying out the task so as to successful implement national socio-economic development tasks in the 2006-2010 period set by the 10^th National Party Congress and soon lift Vietnam out of the underdeveloped nation status.

Mr Khiem said to this end, the sector will focus on five priority areas as follows:
First, continuing to create a peaceful and stable environment for national development.

Second, closely combining diplomatic politics and diplomatic economics, establishing and deepening international relations so that Vietnam can enjoy new development opportunities through further expanding markets, receiving new investment flows and advance technology suitable for Vietnam.

Third, finalising the legal system together with other ministries and sectors to meet the requirements of the integration process and increase the competitive capacity of the national economy.

Fourth, continuing to propose specific measures to effectively assist localities and enterprises in the international economic integration.

Fifth, actively studying and proposing measures to facilitate and attract human resources from overseas Vietnamese communities around the world for national development.