Vietnam is seeking enhanced support from the World Trade Organization (WTO) and the World Economic Forum (WEF) to bolster its trade, investment, and economic development strategies. During a series of meetings in Switzerland, Deputy Prime Minister Nguyễn Văn Thắng emphasized Vietnam’s dedication to a global trading system based on established rules. He urged the WTO to prioritize reforms, especially the restoration of its dispute settlement mechanism, while also expanding its scope to include areas such as digital trade, artificial intelligence, climate change, and supply chain resilience.
Thắng outlined Vietnam’s aspiration to achieve high-income status by 2045, a goal that necessitates stronger international partnerships. He called on the WEF to enhance cooperation with Vietnam by encouraging investment, fostering innovation, and promoting public-private partnerships. He also highlighted the importance of developing international financial centers as part of this ambitious economic vision.
In response, officials from both the WTO and WEF expressed their support for Vietnam’s economic reforms. They pledged to continue collaborating with the Southeast Asian nation on initiatives related to trade, investment, and capacity building. This commitment from international organizations is seen as crucial to Vietnam’s efforts to integrate more deeply into the global economy.
The discussions underscore Vietnam’s proactive approach in engaging with influential global economic institutions to secure a more prosperous future. By aligning with global economic trends and reforms, Vietnam aims to position itself as a competitive player on the international stage, leveraging both its economic strategies and strategic partnerships.