IPEF should be based on open, inclusive, transparent principles: spokesperson

Vietnam believes that the Indo-Pacific Economic Framework for Prosperity should be based on open, inclusive and transparent principles in line with international law, while ensuring ASEAN's central role and supplementing existing economic links, said Foreign Ministry spokesperson Le Thi Thu Hang.

Hang made the statement while clarifying Vietnam's stance in joining the discussion process of the IPEF during the Foreign Ministry’s regular press conference in Hanoi on May 26.

Hang said that on May 23, Prime Minister Pham Minh Chinh delivered a speech at the launch of the IPEF via videoconference.

She said that during the discussions, Vietnam will work with ASEAN members and relevant partners to look deeply into the IPEF’s contents, focusing on trade; supply chains; clean energy, decarbonisation and infrastructure; and taxation and anti-corruption, aiming to have a positive, efficient and workable economic agenda for the region and for each country.

According to the spokesperson, pursuing the policy on building an independent and self-reliant economy in association with proactive and active international integration with extensive, substantive and effective economic integration, Vietnam has participated in a number of initiatives on international economic cooperation, thus making the most of domestic and foreign resources for national construction and development.