UNCTAD appreciates Vietnam's contributions to international trade and development

Ambassador Dang Hoang Giang, Head of the Permanent Mission of Vietnam to the United Nations, speaks at the dialogue session. (Photo: VNA)

On March 28, a dialogue between the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) and member countries of the Group of 77 (G77) and China on current challenges to international trade and development took place in New York (USA).

In her opening remarks at the event, UNCTAD Secretary-General Rebeca Grynspan said global trade is set to reach a record $33 trillion by 2024, with developing countries growing faster than the global average. However, new trends such as trade tensions, tariff barriers, and reduced investment will affect the most vulnerable economies.

Secretary-General Grynspan said that multilateralism, despite its difficult circumstances, is the only tool the world has to overcome current challenges.

On this occasion, Secretary-General Grynspan also expressed his deep gratitude for Vietnam's acceptance to host the 16th UNCTAD Ministerial Conference in 2025, assessing Vietnam as a country that has transformed itself through trade and "is an inspiration to all of us." G77 member countries also welcomed Vietnam's acceptance to host the Conference and expressed their belief that the Conference will be a great success.

Speaking at the event, Ambassador Dang Hoang Giang - Head of the Permanent Mission of Vietnam to the United Nations, shared the assessments of the UNCTAD Secretary-General and expressed concerns about the ongoing trade war as well as the increasing trend of retaliatory measures, which have seriously affected global economic stability and development.

Disruptions to trade flows caused by tariffs, protectionism and trade wars can seriously impede growth and the achievement of sustainable development goals. A comprehensive and multilateral approach is needed to address these challenges.

Ambassador Dang Hoang Giang emphasized that for Vietnam, the future of international trade depends on three important factors: Strengthening international cooperation, fighting protectionism, promoting a fair and multilateral trading system so that all countries, especially developing countries, can benefit from a more balanced and prosperous global trade framework.

Ambassador Dang Hoang Giang thanked countries for their support for Vietnam's hosting of the 16th UNCTAD Ministerial Conference and hoped that countries would actively participate and contribute to the success of the Conference./.

(Vietnam+)

Source: https://www.vietnamplus.vn/unctad-danh-gia-cao-dong-gop-cua-viet-nam-cho-thuong-mai-va-phat-trien-quoc-te-post1023426.vnp