UN summit looks to facilitate entrepot trade in Asia-Europe

A summit of the United Nations (UN) is taking place in Hanoi on March 7-9 to enhance cooperation in facilitating entrepot trade and implementing the 2030 agenda on sustainable development.

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The event is co-held by the Ministry of Foreign Affairs and the UN Office for the high representative for the least developed countries, landlocked developing countries and small island developing states (UN-OHRLLS).

Representatives from 29 regional and international organisations, including the UN Economic and Social Council (ECOSOC), UN Conference on Trade and Development (UNCTAD), World Customs Organisation (WCO), UN General Assembly (UNGA), Asian Infrastructure Investment Bank (AIIB), World Bank (WB), Asian Development Bank (ADB), are attending the event.

Delegates from 38 countries, including non-marine ones, as well as development partners and international seaport business associations also join the summit.

The summit includes six sessions, focusing discussion on entrepot trade facilitation and acceleration of the 2030 agenda on sustainable development.

Participants will discuss measures to boost cooperation between non-marine and entrepot countries in the field of customs, facilitate trade and investment, build trans-national entrepots, attract capital and set up bilateral and multilateral legal frameworks.

Global financial organisations are hoped to support countries without seas and entrepots to join the regional and global value chain.

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