Japan has high expectation of the leadership of Vietnam as the host of the APEC 2017 Economic Leaders’ Meeting, and Japan, also an APEC member, will contribute to APEC discussions, a Japanese official has said.

Tsutomu Koizumi, deputy head of the Japanese Foreign Ministry’s Economic Affairs Bureau, told a Tokyo-based Vietnam News Agency reporter that his country will continue to cooperate and support so that the meeting in Vietnam will be successful.

Vietnam’s efforts as the host of APEC meetings have been highly appreciated, he said, adding that the events have been successful so far.

Tsutomu Koizumi, deputy head of the Japanese Foreign Ministry’s Economic Affairs Bureau

He said since its foundation in 1989, APEC has reaped considerable achievements in many areas, including economic integration in Asia-Pacific. APEC member economies make up 44.3 trillion USD or 60 percent of the world’s GDP and some 17.8 trillion USD or 50 percent of global trade revenue.

Amid a changing business climate with the appearance of digital services and trade and growing protectionism, APEC plays an increasingly important role in facilitating trade and investment liberalisation, Koizumi noted.

It has also been promoting initiatives to address emerging challenges, the Japanese official said, while mentioning the priorities of the APEC Vietnam 2017, which are promoting sustainable, innovative and inclusive growth; deepening regional economic integration; strengthening micro-, small- and medium-sized enterprises’ competitiveness and innovation in the digital age; and enhancing food security and sustainable agriculture in response to climate change.

Established in 1989, the 21-economy APEC is Asia Pacific’s premier economic forum. Its primary goal is to support sustainable growth and prosperity in the region.

This year is the second time Vietnam has hosted APEC events after the first time in 2006. The APEC Economic Leaders’ Week is taking place in the central city of Da Nang from November 6 to 11.