Vietnam is seeking enhanced backing from the World Trade Organization (WTO) and the World Economic Forum (WEF) as it aims to bolster its trade, investment, and economic development. This call for support was made by Vietnam’s Deputy Prime Minister Nguyễn Văn Thắng during his recent discussions in Switzerland. Thắng emphasized the importance of a rules-based global trading system and urged the WTO to speed up its reforms.
Thắng highlighted the necessity for the WTO to restore its dispute settlement mechanism and broaden its focus to include emerging sectors such as digital trade, artificial intelligence, climate change, and supply chain resilience. These areas, he noted, are essential for Vietnam as the country sets its sights on becoming a high-income economy by the year 2045.
In addition to his appeal to the WTO, Thắng sought deeper collaboration with the WEF. He invited the forum to play a more active role in fostering investment and innovation in Vietnam. Thắng also underscored the potential for public-private partnerships and the establishment of international financial centers as key drivers of Vietnam’s economic goals.
Officials from the WTO and WEF responded positively to Vietnam’s economic strategies. They commended the country’s ongoing reforms and expressed their commitment to continued cooperation in areas such as trade, investment, and capacity-building initiatives. This support is seen as pivotal for Vietnam as it seeks to integrate further into the global economy.