Vietnam pledges to support UNCTAD's cooperation goals and orientations

The Vietnamese delegation led by Deputy Foreign Minister Nguyen Minh Hang attended the Global Leadership Forum on the occasion of the 60th anniversary of UNCTAD.

Việt Nam cam kết ủng hộ các mục tiêu, định hướng hợp tác của UNCTAD

Deputy Foreign Minister Nguyen Minh Hang led the Vietnamese delegation to attend the Global Leadership Forum on the occasion of the 60th anniversary of UNCTAD.

From June 12-13, the Global Leadership Forum on the occasion of the 60th anniversary of the United Nations Conference on Trade and Development (UNCTAD) took place at the United Nations headquarters in Geneva, Switzerland. The Forum was attended by the Secretary-General of the United Nations, the Secretary-General of UNCTAD, the Presidents of Madagascar, Comoros, the Prime Minister of Timor Leste, the Vice President of Costa Rica, the Deputy Prime Ministers of the Netherlands, Nepal, Namibia, along with Ministers, Deputy Ministers, Ambassadors and representatives of 195 UNCTAD member countries and leaders of many international organizations. The Vietnamese delegation led by Deputy Foreign Minister Nguyen Minh Hang attended the Forum. With the theme “Forging a new development path in a changing world”, the Forum included 7 discussion sessions, focusing on the following contents: developing industrial policies for trade and development, maintaining and promoting growth, the digital future, reshaping global value chains, orientations for developing countries in the context of changing world economy and facing many challenges. Members highly appreciated the efforts and role of UNCTAD over the past 60 years, agreeing that UNCTAD needs to further promote its role as a representative voice of developing countries in reshaping global governance and promoting the agenda for sustainable development. The conference welcomed the recent reforms of UNCTAD, agreeing to change the organization's name to the United Nations Conference on Trade and Development, reflecting a higher level of commitment, expanded reach and increased support for developing countries.

Deputy Minister of Foreign Affairs Nguyen Minh Hang attended and spoke at the Discussion Session on Promoting Sustainable Investment Flows and Improving the Efficiency of Global Supply Chains.

Attending the Forum, Deputy Minister Nguyen Minh Hang spoke at two discussion sessions on Promoting sustainable investment flows and improving the efficiency of global supply chains and Preparing for the future economy - Urgent options and actions. In her speech, Deputy Minister of Foreign Affairs Nguyen Minh Hang highly appreciated the achievements and contributions of UNCTAD over the past 60 years in its role as a representative of developing countries and promoter of global trade and investment. Sharing her assessment of the opportunities and challenges for global economic growth, trade, investment and sustainable development, the Deputy Minister emphasized five challenges, namely the adaptability of developing countries that cannot keep up with the rapid and profound changes in the world; the development, technology and investment gap between countries is still large; financial, human and resource resources are still limited; climate change and environmental challenges are evolving complexly; geopolitical tensions, fragmentation, increased competition.

Deputy Minister Nguyen Minh Hang attended and spoke at the Discussion Session Preparing for the Future Economy - Options and Urgent Actions. (Source: VNA)

In that context, the Deputy Minister proposed five orientations for UNCTAD to continue to promote its role and support developing countries in the coming time. First, continue to take the lead in promoting multilateralism and strengthening global cooperation actions. Second, develop an open trade and investment system that benefits all countries and stakeholders. Third, UNCTAD supports enhancing the voice of developing countries in the process of policy making, regulations, and global standards, especially in new areas such as green growth, digital transformation, innovation, etc. Fourth, support developing countries to increase resilience to external shocks and multiple crises. Fifth, strengthen the connection of UNCTAD's activities with global agendas. The Deputy Minister also shared Vietnam's economic development achievements, development policies and orientations, investment policies, and international integration. The Deputy Minister thanked UNCTAD for its support to Vietnam in the past and suggested that UNCTAD continue to accompany Vietnam in its future development journey. The Deputy Minister affirmed Vietnam's commitment to supporting UNCTAD's cooperation goals and orientations.

Deputy Minister Nguyen Minh Hang and UNCTAD Secretary General Rebeca Grynspan. (Source: VNA)

On the occasion of attending the Conference, Deputy Minister Nguyen Minh Hang had a meeting with UNCTAD Secretary General Rebecca Grynspan, WTO Director General Ngozi Okonjo-Iweala, WEF Executive Director Mirek Dusek, and Cambodian Senior Minister in charge of Special Issues Sok Siphana.

Deputy Minister Nguyen Minh Hang works with UNCTAD Secretary General Rebeca Grynspan. (Source: VNA)

At the meetings, partners highly appreciated the Government's management and Vietnam's development achievements. The UNCTAD Secretary General said that Vietnam is a successful model of opening up and international economic integration; the WTO Director General said that Vietnam's macroeconomic indicators are the "dream" of many economies; the WEF emphasized that Vietnam is a promising investment destination for member corporations. Partners agreed to promote cooperation and accompany Vietnam on the path of development.