Asia-Pacific leaders kick off key economic summit in central Vietnam

By Phuong Vu   November 6, 2017 | 10:15 am GMT+7
Asia-Pacific leaders kick off key economic summit in central Vietnam
A woman rides a bicycle past an APEC billboard in Da Nang. Photo by VnExpress/Nguyen Dong

U.S. President Donald Trump will arrive on Friday and deliver a speech at the CEO Summit, according to the White House.

Leaders from the 21 Asia-Pacific Economic Cooperation (APEC) nations are gathering in Vietnam's central city of Da Nang for the start of a key regional summit, with speeches expected from Donald Trump and Xi Jinping.

APEC Leaders’ Week opened on Monday and is scheduled to welcome between 12,000-14,000 delegates. Thousands of businesspeople will be attending, including Facebook’s COO Sheryl Sandberg, UPS’s CEO David Abney, and Chairman and CEO of J.P. Morgan Asia Pacific Nicolas Aguzin.

Vietnam’s President Tran Dai Quang will host the opening of the APEC CEO Summit on Wednesday and the APEC Economic Leaders’ Meeting on Saturday.

U.S. President Donald Trump will travel to Da Nang on Friday and will deliver a speech at the CEO Summit, presenting the United States’ vision for a free and open Indo-Pacific region and underscoring the important role the region plays in advancing America’s economic prosperity, the White House said in a statement last week.

Japan’s President Shinzo Abe and China’s Xi Jinping will also deliver speeches on Friday while the Philippines’ Rodrigo Duterte will speak on Thursday, according to the schedule.

The remaining 11 members of the Trans-Pacific Partnership agreement are also expected to make a final announcement on the fate of the trade deal this week. The deal had been viewed as the world’s largest until Trump nixed it soon after his inauguration in January, using the argument of job protection for people in the U.S.

This year’s APEC, themed “Creating New Dynamism, Fostering a Shared Future”, is discussing sustainable growth, deepening economic ties, increasing competitiveness of small businesses and enhancing food security in times of climate change.

Around 2,000 journalists from Vietnam and overseas have registered for the high-profile event, which is being hosted by Vietnam for the second time.

Da Nang has stationed nearly 3,000 crime, fire and traffic police to ensure security at the event.