Vietnam is seeking enhanced collaboration with major global economic bodies to bolster its trade and economic prospects. During recent discussions in Switzerland, Deputy Prime Minister Nguyễn Văn Thắng emphasized the need for increased support from the World Trade Organization (WTO) and the World Economic Forum (WEF). His call to action aims to drive Vietnam’s trade, investment, and sustainable economic growth forward, aligning with the country’s ambitious economic goals.
Thắng reiterated Vietnam’s strong commitment to a rules-based global trading system, urging the WTO to expedite its reforms. He stressed the importance of reinstating the organization’s dispute settlement mechanism and expanding its agenda to include new challenges like digital trade, artificial intelligence, climate change, and supply chain resilience. These areas are increasingly vital in the evolving global economic landscape, and Vietnam is keen to engage with them proactively.
In his appeal to the WEF, Thắng outlined Vietnam’s aspiration to become a high-income economy by the year 2045, a vision that requires significant international cooperation. He invited the WEF to enhance its partnership with Vietnam by fostering investment opportunities, innovation, and public-private partnerships. Furthermore, he advocated for the development of international financial centers to support this economic transition.
Officials from the WTO and WEF responded positively to Vietnam’s proposals, acknowledging the nation’s economic reforms and progress. They expressed a willingness to continue their support for Vietnam through trade, investment, and capacity-building initiatives. This cooperation is seen as pivotal in helping Vietnam achieve its long-term economic objectives, providing a framework for mutual growth and development.