Vietnam stresses multilateralism, int’l cooperation at UNCTAD 15

Themed “From inequality and vulnerability to prosperity for all”, the event takes place both in person and virtually in Geneva (Switzerland) and Bridgetown (Barbados).

In his opening remarks, UN Secretary-General Antonio Guterres underlined that developing countries are facing serious challenges to promoting trade and development amid the post-pandemic recovery. Therefore, the UN needs to bring into play its role in assisting developing countries in these efforts.

Addressing the UNCTAD 15’s plenary session on October 6, Minister Son said the year 2021 marks a new chapter for global trade and development. In particular, digitalisation and innovation have profoundly changed the ways countries exchange and cooperate with one another. Inequality has been increasing in not only grasping opportunities of globalisation but also the capacity of post-pandemic recovery; and global challenges, especially climate change and the COVID-19 pandemic, have caused unprecedented health, economic, and social crises.

Giving three recommendations, he said firstly, it is necessary to promote multilateralism and international cooperation to bring the pandemic under control, improve the adaptability, accelerate the economic recovery process around the globe, and consolidate the foundations for enhancing the resilience to possible global shocks in the future.

Secondly, future development needs to guarantee the sustainability and inclusiveness in terms of economy, environment, and society, he said, asking for stronger international efforts to help improve the adaptability of the regions highly vulnerable to climate change, including the Sub-Mekong region and the Mekong Delta of Vietnam.

Thirdly, UNCTAD should bring into play its role in boosting global cooperation in innovation and digitalisation so as to create new driving forces for sustainable development and technology-based growth, according to Son.

The official affirmed that Vietnam is exerting every effort to control and safely adapt to the pandemic and promote economic recovery.

The country wishes to continue receiving close cooperation from UNCTAD and the international community during the realisation of its development goals. It will also keep joining hands with the international community to ensure a global environment of peace, stability, development, and prosperity, he added.

The UNCTAD 15 is expected to adopt a declaration themed “From inequality and vulnerability to prosperity for all” which will emphasise that the key to resolving challenges to global trade and development is fostering multilateralism and international cooperation.

Apart from the plenary session, the Vietnamese delegation also attended and actively gave opinions at the senior officials’ meeting and the ministerial meeting of G77 and China.