Prime Minister Pham Minh Chinh (Photo: VNA) Participating virtually at the hybrid event held in Tokyo,Chinh said it should be an open, inclusive, and balanced process in line withinternational law and meeting the lawful and legitimate interests of partiesinvolved.
The leader affirmed that Vietnam will work with other ASEAN membercountries and relevant partners to continue discussing and clarifying the contentof IPEF pillars, bringing about a positive, effective, and feasible economicagenda for the region and for each nation; as well as for peace, stability, cooperation, development and prosperity in the region ang the world at large.
Chinh highlighted the need to adjust the growth model andeconomic linkage to be more sustainable and more self-resilient to make the mostof internal power and external resources.
It is also necessary to uphold multilateralism andstrengthen international solidarity on the basis of sincerity, trust andresponsibility, he added.
The launch of the framework will kickstart a seriousdiscussion to exchange ideas towards jointly addressing critical regional andglobal issues, such as supply chains diversification and resilience,technological innovation, digital transformation, e-commerce, climate changeresponse, emission reduction, green growth, taxation issues and anti-corruption,among many others, the Vietnamese Government leader said.
Vietnam is committed to pursuing and is making all effortstowards an independent, self-reliant economy in association with extensive andsubstantive international integration, Chinh continued.
Vietnam is also participating in various initiatives oninternational connectivity, and is making active and responsible contributions to thejoint efforts to accelerate economic recovery and sustainable development inthe region and the world, he stated.
The formal rollout of the IPEF saw in-person and remote participationof leaders of many countries, including US President Joe Biden, Japanese Prime MinisterFumio Kishida, Indian Prime Minister Narendra Modi, PM of the Republic of Korea Yoon Suk-yeol, Thai PM Prayut Chan-o-cha, Singaporean PM Lee Hsien Loong, and PM of New Zealand Jacinda Ardern.
Participating leaders agreed to initiate the IPEF discussionprocess and stand ready to invite countries in the region to join in a hope that this cooperation framework will help economies build resilience,particularly in post-pandemic recovery, enhance their competitiveness, adaptability,sustainability, and inclusivity in contribution to the regional cooperation,stability, prosperity, development and peace, for the sake of the people.
The US said this framework with an initial 13 countriesrepresents 40 percent of global GDP. It will focus on four key pillars –Connected Economy (including rules on digital economy, standards oncross-border data flows and data localisation, online privacy, and use ofartificial intelligence); Resilient Economy (first-of-their-kind supply chaincommitments that better anticipate and prevent disruptions); Clean Economy(commitments on clean energy and decarbonisation, infrastructure that promotegood-paying jobs); and Fair Economy (effective tax, anti-money laundering,anti-bribery regimes)./.
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