APEC 2023: President Vo Van Thuong raised 3 points for the Indian Ocean Economic Framework

On the afternoon of November 16, President Vo Van Thuong attended and spoke at the High-Level Meeting on the Indo- Pacific Economic Framework IPEP.

APEC 2023: President Vo Van Thuong delivers a speech at the High-Level Meeting on the Indo- Pacific Economic Framework (IPEP).

Speaking at the meeting, President Vo Van Thuong said that the Indo-Pacific Economic Framework for Prosperity (IPEF) is a joint effort to enhance cooperation and coordination among economies in the context of the world facing many changes, opportunities and challenges.

IPEF is expected to be a dynamic and effective economic linkage and connection model, bringing practical benefits to the people, contributing to peace, stability and prosperity in the region and the world.

The President highly appreciated the contributions of the United States, especially President Joe Biden, as well as the economies that successfully organized the five negotiation sessions. He noted that the Ministers had agreed on important premises for cooperation, based on the principles of equality, mutual benefit, inclusiveness, compliance with international law, respect for the laws and political institutions of each country, and promotion of flexibility and voluntariness.

To make IPEF truly effective, the President emphasized three points.

Firstly , IPEF needs to be an open, inclusive, non-discriminatory cooperation mechanism, supporting the multilateral trading system based on rules; welcoming the participation of countries within and outside the region; supporting and complementing other regional economic connectivity and linkage initiatives.

Second , cooperation needs to meet development needs, balance the interests of all parties; respect and take into account the differences and specific characteristics of each country; focus on technical support and capacity building.

Third , encourage new investment in infrastructure construction, clean energy conversion, and high-tech industrial production in the region.

The President emphasized that building a prosperous and sustainable economy, bringing prosperity to the people, is the common aspiration and goal of all. Vietnam hopes that through IPEF and other regional cooperation frameworks, we can build a bright future together.

Source: https://baoquocte.vn/apec-2023-chu-tich-nuoc-vo-van-thuong-neu-3-diem-de-khuon-kho-kinh-te-an-do-duong-thai-binh-duong-ipep-hoat-dong-hieu-qua-250372.html