In a recent series of discussions held in Switzerland, Vietnam’s Deputy Prime Minister Nguyễn Văn Thắng emphasized the need for increased support from the World Trade Organization (WTO) and the World Economic Forum (WEF). The aim is to bolster Vietnam’s trade activities, attract investment, and foster sustainable economic growth. Thắng reiterated Vietnam’s dedication to a global trading system founded on rules and urged the WTO to prioritize reforms, particularly in revitalizing its dispute settlement mechanism and addressing new challenges like digital trade, artificial intelligence, and climate change.
Thắng outlined Vietnam’s ambitious objective of achieving high-income status by the year 2045. To reach this target, he sought deeper collaboration with the WEF, focusing on stimulating investment, nurturing innovation, and fostering public-private partnerships. Additionally, he highlighted the importance of developing international financial centers to further integrate Vietnam into the global economic landscape.
During these meetings, officials from both the WTO and the WEF expressed their approval of Vietnam’s ongoing economic reforms. They assured continued collaboration on initiatives aimed at enhancing trade, investment, and capacity-building. The commitment from these international bodies is seen as crucial to Vietnam’s strategy to strengthen its economic infrastructure and adaptability in a rapidly changing global market.
Thắng’s appeal also touched on the necessity for the WTO to expand its scope to include emerging areas that are becoming increasingly relevant in the global economy. By focusing on issues such as supply chain resilience and climate change, he argued, the WTO can better serve its member states and adapt to the evolving needs of international trade.
The meetings underscored a shared vision among Vietnam, the WTO, and the WEF for a future where Vietnam not only participates in but also contributes to a balanced and equitable global trading system. The dialogues in Switzerland reflect Vietnam’s proactive stance in seeking partnerships that can facilitate its economic objectives and enhance its role on the world stage.