Foreign Minister Pham Binh Minh and Industry and Trade Minister Vu Huy Hoang led the Vietnamese delegation to the event.

Addressing the function, Foreign Minister Pham Binh Minh said the world and region are entering a new period with both challenges and opportunities.

Cooperation processes have seen significant developments in a more practical and concerted manner, he said, proposing the building of a sustainable regional structure in conformity with the changes and diversity of the region, strengthening the settlement of traditional and non-traditional security challenges to meet the common goals of peace, sustainability and development in the region.

The FM also stressed that in a shaping regional structure, the central role of ASEAN is very important.

Ministers at the meeting discussed issues important to the region, especially improving regional cooperation in the new context, boosting economic growth, creating favourable conditions for SME development, coping with natural disasters and open management.
The ministers held dialogues with enterprises on matters of mutual interests.

The ministers held that APEC cooperation in 2011 has achieved practical results, especially in intensifying regional economic linkage, new contents and challenges in trade, green growth and coping with natural disasters.

They agreed to boost the implementation of Bogor Goals, create more favorable conditions for SMEs, expand the global supply chain, promote innovation policy, strengthen public-private partnership and put forth specific measures to soon conclude the Doha negotiations.

At a session on natural calamities, FM Minh said natural disasters and climate change are becoming an urgent issue, especially in Asia-Pacific, which have to suffer from 70 percent of the world’s calamities.

He supported APEC’s view that human security, especially coping with urgent situations, is one of the cooperative priorities.

The Vietnamese FM asked APEC to pay attention to raising community’s awareness, cooperation in sea rescue and encouraging enterprises’ involvement.

The Ministers adopted the meeting’s declaration and six attached documents, and statements on coping with natural disasters in Asia-Pacific, open management and economic growth, and WTO, Doha negotiations and anti protectionism.

The same day, Foreign Minister Pham Binh Minh and Industry and Trade Minister Vu Huy Hoang held bilateral meetings with their counterparts from the US, Australia, New Zealand, Malaysia, Thailand and Mexico.

The ministers agreed that it is necessary to make more efforts to deepen bilateral ties, increase the exchange of delegations at all levels, boost economic-trade cooperation and collaborate on regional and international issues of mutual concerns within the framework of multilateral cooperation like APEC./.