VIETNAM strenghtens cooperation with international organizations
In the context of the complicated development of the covid-19 pandemic in many countries, including Vietnam and 27 EU countries work in a partnership and resilience of economic development. In a hand-to-hand manner to control and prevent from the spread of covid19 and variants.
In the pandemic situation, all companies need to re-start their activities in local, national, and international level as it used to do in the economic market. The motto of promoting the development of multilateralism is getting crucial for any entrepreneurs. According to Vietnam government, there are two criteria to ensure the effective implementation:
1. Strengthen multilateral cooperation between Vietnam and the United
Nations, European partners, international organizations, and NGOs based
in EU countries to respond to the pandemic and rebuild the economy,
from 26–29/11/2021,
2. The visit of President of Vietnam Nguyen Xuan Phuc in Switzerland
who leads a delegation. He will attend to the high meetings to collaborate
with several organizations such as the World Health Organization
(WHO), the World Trade Organization (WTO), the World Intellectual
Property Organization (WIPO) and more.
Over the past time, Vietnam established a huge network with the most multilateral economic cooperation. Year by year, it built up the linkage mechanisms from the global level of WTO, WB, IMF, inter-regional: ASEM, APEC, FEALAC[1], the region (ASEAN, ADB…) to the network of free trade agreements with most of the world’s leading economic and trade. Participating in the multilateral economic linkage network gradually connects.
In general view, Vietnam’s economy in the region and the world means to help country. It absorbs international principles and standards as well as attracts resources for development and creates motivation to build market economic institutions in line with Vietnam’s development orientation.
Vietnam is a part of the World Trade Organization since 2007
Becoming a WTO member in 2007 is an important milestone marking to the progress of Vietnam’s international economic integration on a global scale. After 14 years of joining the WTO, despite being affected by the impact of the global financial and the public debt crisis,. The Professor Ricardo Hausmann from Harvard University in Massachusetts US, declared that
“Vietnam still maintains an average growth rate of nearly 7% per year. With this growth scale up.Vietnam is one of the fastest growing countries in the world.”
Economic experts believe that joining the WTO is the “first wave of integration”, creating an important premise and building confidence for Vietnam to continue participating in the “second wave of integration” with a series of new generation bilateral Free Trade Agreements (FTAs) — with a broader scope of commitments, an even deeper and higher level of commitment than in the WTO framework.
In November 2021, Vietnam has signed 14 FTAs and is negotiating 02 other more. Typical new-generation FTAs that Vietnam participates in are Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), FTA between Vietnam — EU (EVFTA). With the high standards, these two agreements cover more open and non-traditional contents compared to previous FTAs. FTAs are opening a large market for Vietnam with free trade relations with 56 partners around the world, including G7 and 15/20 members of the G20 countries. When all these FTAs come into effect, about over 80% of Vietnam’s import and export turnover will be governed by these FTAs.
Vietnam’s government declared
Thanks to EVFTA, the economic and trade cooperation between Vietnam and the EU has changed in quality, shifting from Vietnam receiving development aid for poverty reduction and economic reconstruction to an equal partnership of mutual benefit. Moreover, relations between Vietnam and EU both consider multilateralism as the foundation for maintaining and developing relations as well as maintaining international rules in all fields of cooperation from economy, diplomacy, security, and defence. Over the years, the relationship between Vietnam and the European Union has been developing more and more actively.
The EU27 leaders of the 2019–2024 mandate term consider Vietnam as one of the important partners in the ASEAN as well as the Indo-Pacific. Along with the achievements in political and economic cooperation, Vietnam highly appreciates the role and importance of the EU institutions as well as WHO in actively implementing the COVAX initiative to response to the covid-19. This initiative has supported many countries, including Vietnam, to find supplies and to be distributed and accessed vaccine fairly. The timely and meaningful support of COVAX has been helping many countries achieve the goals of disease control and economic recovery. In the coming time, Vietnam expects that COVAX will continue to allocate 9 million doses of vaccine as soon as possible.
Besides actively integrating with other countries and important economic partners through new generation FTAs, Vietnam also values and supports the central role of the United Nations in the global governance system in the face of common challenges, while promoting comprehensive cooperation with the United Nations. On that basis, Vietnam has been striving to become an active and responsible member, effectively contributing to UN activities, specifically taking on the role of a non-permanent member of the Security Council for the 2020–2021 term, actively participate in the United Nations Peacekeeping Force, implement the Sustainable Development Goals, the Paris Agreement on climate change and contribute to reform efforts to improve efficiency performance of the United Nations.
Multilateral cooperation in the fields of culture, social security, labour, information-communication, environment, tourism…has been increasingly expanded in the spirit of selective application of criteria, regional and international standards suitable to Vietnam’s socio-economic conditions, thereby helping to form Vietnamese cultural identity in the integration, promoting social progress, and developing its labour market and social security system, poverty alleviation and the implementation of the United Nations’ Millennium Development Goals In the near days, The president of Vietnam is about to call all countries to support the country as the candidacy for a member of the Human Rights Council for the term 2023–2025.
[1] ASEM:Asia Europe Meeting APEC Asia Pacific Economic Copperation FEALAC Forum for East Asia-Latin America Cooperation-ADB Asian Development Bank
