Vietnam proposes upholding multilateralism in ASEAN – EU cooperation

“As ASEAN and its partners account for nearly half of the globe’s population and two thirds of the globe’s GDP, we need to unite, think together, act together, and look towards the future together,” PM Chinh said at the gathering.

According to the PM, businesses must seek to strengthen connectivity, while countries should strive to harmonise regulations on the basis of the harmony of benefits and the sharing of risks between the state, businesses, and citizens.

He noted that climate change is a global issue, therefore it requires a global solution in which international solidarity and multilateralism should be upheld. As climate change impacts everyone, he said it is also necessary to take a people and business-centred approach, with all of the policies being directed towards people and businesses.

He went on to suggest that enterprises have green finance, green technology, green management, and green human resources, while the state formulate appropriate institutions in a bid to move towards green and sustainable economic development.

In his opinion, developed countries should provide developing countries with finance, human resources, technology, governance, and institution experience, and at the same time ensure fairness and justice for poor and developing states, and shoulder the responsibility alongside developing countries in responding to climate change.

The Vietnamese leader stressed that as trade ties between the EU and ASEAN are developing comprehensively in terms of scale, scope, and nature, countries should further improve the legal corridor. This will help to create the best possible foundation and conditions for businesses keen to enhance capacity, creativity, responsibility, and build stronger connections.

“Countries must create more favourable conditions for businesses in this process by accelerating negotiations and signing of free trade agreements, investment protection agreements, double taxation avoidance agreements, as well as prompt customs clearance of goods,” he suggested.

The PM noted a number of cooperation fields that businesses should focus on, including digital economy, green economy, circular economy, climate change response, food security, energy security, and cybersecurity. He also underlined the importance of maintaining social security in order to ensure that no one is left behind.

The 10th ASEAN - EU business summit was held on the sidelines of the ASEAN-EU summit to mark 45 years of the bloc’s dialogue partnership.