Vietnam joins G20 in development agenda

ASEAN, as well as Vietnam, is ready to cooperate with the Group of Twenty (G20) to carry out the development agenda, affirmed Prime Minister Nguyen Tan Dung.
ASEAN, as well as Vietnam, is ready to cooperate with the Group of Twenty (G20) to carry out the development agenda, affirmed Prime Minister Nguyen Tan Dung.

PM Dung made the statement while addressing the theme on the global economy and framework for strong, sustainable and balanced growth, at the G20 Seoul Summit in the Republic of Korea (RoK) on Nov. 12.

PM Dung held up the first-ever policy combination at regional and global levels under the guidance of G20 as the most important reason to help the global economy quickly recover.

He proposed the G20 consider the establishment of a pilot policy consultation mechanism with a number of regional organizations, including ASEAN, to exchange information and views on regional and global financial and economic issues and jointly implement G20’s important decisions.

PM Dung hailed G20 economies, especially its host, for bringing development issues into the agenda of the G20 Seoul Summit.

He proposed the G20 continue prioritising development issues in its future summit agendas and take measures to assist developing nations, especially those that have entered the middle-income category, to help them not fall back to the low-income category.

He suggested G20 think about the establishment of a G20 knowledge sharing network with the participation of G20 member and non-member countries.

On the theme of climate change and green development, PM Dung also proposed G20 nations do their best to reach an international agreement on coping with global climate change after 2012, at the 16 th Conference of the Parties to the Kyoto Protocol in Cancun , Mexico , in late November 2010.

The PM put forward two initiatives to the G20 to set up a special fund to assist countries severely affected by climate change and hold a national coastal forum on climate change and marine ecological environmental protection.

He highlighted the result of the International Development Association’s activities to assist poor and developing nations and recommended G20 nations continue financing the IDA’s 16 th action programme.

According to Vietnam ’s initiative reached at the meeting between the Vietnamese and Dutch PMs at the G20 Toronto Summit in Canada last June, the two countries’ agencies have jointly finalized the Vietnam-Netherlands common view document on the G20’s important issues, including development issues, climate change and green development.

Vietnam , as ASEAN Chair in 2010, has collaborated with other ASEAN nations to compile the ASEAN common view document on G20 issues that have been sent to participating countries and international organizations.

The G20 Summit draws the participation of 34 delegation heads, including leaders of G20 economies, five government leaders of invited nations, and nine chiefs of international organisations.

Themed, “Shared Growth Beyond the Crisis”, the meeting discussed the world economy and framework for strong, sustainable and balanced growth; development issues; trade; reforms of international institutions and safe global financial networks; financial regulation reforms; climate change and green growth.

In the context of certain difficulties and challenges, participating economies made efforts to produce important results, including the approval of the Seoul Consensus for Shared Growth and its Multi-Year Action Plan on Development.

The consensus indentified nine key pillars, including infrastructure, human resource development, trade, private investment and job creation, food security, growth with resilience, financial inclusion, domestic resource mobilisation and knowledge sharing.

Besides supporting less developed and low-income countries, following proposals of Vietnam and several developing countries, G20 also recognised the necessity of assisting developing countries in general.

The meeting reiterated its commitment to soon complete the Doha negotiations and end trade protection.

Many countries backed the Republic of Korea ’s initiative on setting up a network of global financial safety, which will be implemented at the 2011 G20 Summit in France .

On the sidelines of the G20 Summit, the G20 Business Summit took place with the participation of 120 leading enterprises.

On the evening of Nov. 12, PM Dung and his entourage left Seoul to conclude their attendance at the G20 Summit at the invitation of RoK President Lee Myung-Bak./.

See more