Amid meetings held in Switzerland, Vietnam’s Deputy Prime Minister Nguyễn Văn Thắng has called upon the World Trade Organization (WTO) and the World Economic Forum (WEF) to enhance their support for the country’s trade and investment ambitions. Thắng emphasized the importance of a global trading system grounded in established rules and urged the WTO to expedite reforms. These reforms include the restoration of its dispute settlement mechanism and the broadening of its focus to include emerging sectors such as digital trade, artificial intelligence, climate change, and supply chain resilience.
Vietnam, aiming to transform into a high-income economy by 2045, sees the WTO as a pivotal partner in this journey. Thắng’s appeal to the WTO underscores the need for a framework that adapts to the rapidly changing global economic landscape. His discussions also highlighted the importance of adapting to contemporary challenges and opportunities, which are pivotal for Vietnam’s long-term economic strategy.
In addition to his interactions with the WTO, Thắng also reached out to the World Economic Forum, inviting deeper cooperation to bolster Vietnam’s economic infrastructure. He urged the WEF to facilitate investment, foster innovation, and promote public-private partnerships. Additionally, there was a call to aid in the creation and development of international financial centers, which are perceived as critical components for driving economic growth and stability.
Officials from both the WTO and WEF responded positively to Vietnam’s initiatives. They commended the country’s ongoing economic reforms and expressed their commitment to continue collaborating on various fronts, including trade, investment, and capacity-building programs. This collaboration is seen as a vital component in supporting Vietnam’s aspirations to elevate its economic status on the global stage.
Through these engagements, Vietnam seeks not only to strengthen its trade and economic ties but also to align itself with the evolving demands of global commerce. The backing of international organizations such as the WTO and WEF is deemed essential in facilitating Vietnam’s economic development goals, particularly in navigating the complexities of modern trade dynamics.