Vietnam is seeking enhanced support from the World Trade Organization (WTO) and the World Economic Forum (WEF) to bolster its trade and economic ambitions, as emphasized by Deputy Prime Minister Nguyễn Văn Thắng during his recent meetings in Switzerland. Thắng reiterated Vietnam’s dedication to a global trading system grounded in rules and urged the WTO to quicken its reform pace, particularly in reinstating its dispute resolution mechanism. He also stressed the importance of broadening the organization’s focus to include digital trade, artificial intelligence, climate change, and supply chain resilience.
As Vietnam sets its sights on becoming a high-income economy by 2045, Thắng invited the WEF to strengthen cooperation efforts. He suggested that promoting investment, fostering innovation, and encouraging public-private partnerships could significantly contribute to Vietnam’s economic growth. He also mentioned the importance of developing international financial centers as part of this collaborative effort.
Both the WTO and the WEF responded positively to Vietnam’s calls for cooperation. Officials from these organizations praised the country’s economic reform initiatives and expressed their commitment to continue supporting Vietnam in areas such as trade, investment, and capacity-building.
Thắng’s appeal underscores Vietnam’s strategic approach to integrating into the global economy while adapting to emerging global trends. By seeking partnerships and support from major international organizations, Vietnam aims to navigate the challenges of modern trade dynamics and drive its long-term economic development.