Promoting economic ties with Francophone community a priority of Vietnam: leader
Capitalising on the great potential for economic cooperation with countries of the Francophone community is one of the top Francophone cooperation priorities of Vietnam in the years to come, according to Party General Secretary and State President To Lam.
He made the statement in an article published on the Influences magazine on the occasion of the 19th Francophonie Summit, held in France on October 4 - 5.
In the writing, Lam noted that the idea of a Francophone economic space came into being at the 7th Francophonie Summit in Hanoi on November 14 - 16, 1997, the first to be organised in Asia-Pacific. Together with adopting the Charter of the Francophonie, the event marked an important turning point of the French speaking community from a framework of cultural cooperation through the French language to that of comprehensive cooperation, including politics and economy.
He said the Francophone community, home to a combined population of about 1.2 billion, 16% of the world’s gross domestic product and 20% of global trade, is a highly potential land for economic partnerships. As an active and responsible member of this community, Vietnam strongly supports and actively engages in the community’s efforts to enhance economic cooperation for member countries’ prosperity and sustainable development.
In 2023, with GDP of about US$430 billion, Vietnam became of the 34th largest economy in the world. The country, which used to suffer from food shortages, is now a leading rice and farm produce exporter. It is also one of the most open economies, posting foreign trade turnover of over US$735 billion and participating in 16 free trade agreements (FTAs) with most of major partners around the globe.
However, he pointed out, trade between Vietnam and other members of the Francophone community remains modest, accounting for some 5% of its total foreign trade. Investment from French speaking countries to Vietnam and from the Southeast Asian nation to those countries has yet to live up to potential. Meanwhile, the economies are completely complementary to one another in global supply chains.
Given this, capitalising on the great potential for economic cooperation with countries of the Francophone community is one of the top Francophone cooperation priorities of Vietnam in the years to come, the leader wrote.
He went on to say that having secured positive agricultural achievements, Vietnam is working with some Francophone members in Africa to carry out South - South and trilateral cooperation fruitfully. Collaboration in agriculture should be further promoted, especially with the participation of developed countries in the Francophone community, helping eliminate poverty, guarantee food security, and realise the Sustainable Development Goals in the community.
In addition, it is necessary to further tap into the potential of science, technology, and innovation partnerships, Lam noted, considering the organisation of the FrancoTech forum on the sidelines of this year’s summit as a practical and useful initiative.
Facing the vigorous growth of science and technology, the Francophone community should create opportunities for countries, enterprises, and research centres to share information and foster ties in new and pioneering technologies, including artificial intelligence and automation.
He called on developed members to help others to improve the quality of human resources, particularly in emerging technology industries.
To bolster economic links, the International Organisation of La Francophonie needs to better bring into play its role in connecting economic cooperation strategies, projects, and programmes in the community. Besides, the Francophone business forum is also a driver for cooperation and business activities among enterprises, contributing to trade and investment connections among French speaking members.
Those tasks should be carried out in tandem with the continued promotion of French language use and teaching, Lam opined, perceiving that French should become a language of business, creativity, knowledge, innovation, and entrepreneurship, which ensures the vitality and cohesion of this language.
Vietnam hopes to strengthen Francophone economic cooperation and contribute to common efforts by the French speaking community for peace, cooperation, solidarity, and sustainable development in the Francophone space, according to the Vietnamese leader.
