Vietnam aspires to gain experience in building circular economy

VOV.VN - Ambassador Le Thi Tuyet Mai, head of the Permanent Mission of Vietnam to the World Trade Organisation (WTO), expressed the nation’s interest in learning from the experiences of developed countries in operating a circular economy while attending a recent virtual meeting of the WTO.

The teleconference was aimed at discussing the circular economy, economic diversification, and aid for trade transpired as part of the aid-for-trade work programme for the 2020 to 2022 period of the WTO Committee on Trade and Development.

Speakers at the event included representatives of international organisations such as the WTO, the UN Industrial Development Organisation (UNIDO), the Organisation for Economic Cooperation and Development (OECD), the Asian Development Bank (ADB), and the Royal Institute of International Affairs of the UK (Chatham House).

Upon presenting the country’s viewpoint and experience, Ambassador Mai, said in its socio-economic development strategy for 2021 to 2030, that the country had identified the need to build a circular economy model as one of the orientations and solutions to achieve fast and sustainable development.

A number of policies and mechanisms to promote factors of a circular economy have been included in the country’s guidelines, policies, and laws regarding environmental protection and the national action plan to implement the 2030 Agenda for Sustainable Development.

Most notably, they have been institutionalised in the Law on Environmental Protection, the national green growth strategy, and the national action plan on sustainable production and consumption, the Vietnamese diplomat noted.

She therefore stressed that since the Doi moi (Renewal) period initially began in 1986, the country has continually paid attention to a combination of economic development mixed with environmental protection. It has also encouraged the sustainable use of natural resources and production materials, along with the realisation of the Sustainable Development Goals (SDGs).

These policies have so far proved to be effective, with evidence for this being in many enterprises succeeding in applying clean production models, Ambassador Mai said.

She went on to point out some of the major challenges that the nation faces during its transition from a traditional economy to a circular one. Therefore, the country wishes to learn from developed countries’ experience regarding how to operate a circular economy whilst developing sustainably.

Promoting international economic integration via commitments under the WTO and recently inked trade agreements will serve to help the nation promote the building of a circular economy, achieve the SDGs, and bring about a range of benefits to its people, the local diplomat said.