Forum for East Asia–Latin America Cooperation (FEALAC) countries need to exchange their experience in the transition growth model towards sustainable development and put forward initiatives and measures to foster cooperation between the forum’s member nations.

The proposal was made by Minister of Foreign Affairs Pham Binh Minh during an international seminar entitled “Experience of FEALAC Countries in Transition Growth Model towards Sustainable Development” held in Hanoi on June 6.

Addressing the seminar, Minh stressed East Asian and Latin American countries have maintained a level of growth higher than the world average to become the highlight of the global economy.

This year, the two sides are expected to account for 66 percent of world economic growth and will continue increasing their contribution in subsequent years.

He also put forward orientations for the transition growth model towards sustainable development and FEALAC countries’ further cooperation.

Besides, the minister asked for participants’ evaluation of the global and East Asia–Latin America economies, as well as its impacts on FEALAC countries to specify priority fields and issues in the process of shifting the growth model.

As a member of more than 60 international organisations and a trusted and responsible partner of many multilateral and interregional mechanisms, Vietnam spares no effort to execute wide-open foreign policies and enhance its global integration, Deputy Minister of Foreign Affairs Ha Kim Ngoc said.

Vietnam has attended all FEALAC activities, programmes and cooperation projects, which helps establish and perfect the structure and organisation of the forum.

The country also works closely with FEALAC members to strengthen connections and cooperation.

Ecuador’s Ambassador to Malaysia and Vietnam appreciated the country’s efforts in expanding its relations with Latin American countries, especially those in the Vietnam-Latin America Trade and Investment Forum held in July 2012.

As a FEALAC founding member, Vietnam is a co-chair of the FEALAC Economy and Society Working Group with Ecuador during the 2011-2013 period. The conference took place on the threshold of the 6th FEALAC Minister Meeting (FMM VI) scheduled for June 13-14 in Indonesia.

International delegates spoke highly of Vietnam’s experience in conducting the “Doi moi” (renewal) in the past 25 years and executing an economic restructuring in combination with growth model transformation in the meantime.

On June 7, delegates from FEALAC member countries will make a fact-finding tour to the northern province of Quang Ninh, one of the localities leading in implementing renewal policies and recording immense socio-economic gains.-VNA