President Vo Van Thuong proposed 3 major directions in implementing the Indo-Pacific Economic Cooperation Framework for Prosperity (IPEF) in the coming time
On the afternoon of November 16, local time, in San Francisco – USA, a meeting with senior leaders of the Indo-Pacific Economic Cooperation Framework for Prosperity (IPEF) took place.
The meeting was attended by senior leaders of APEC economies, heads of government, heads of government and representatives of a number of countries, including the US, India, Brunei, Indonesia and South Korea. , New Zealand, Japan, Malaysia, Australia, Fiji, Philippines, Thailand, Singapore and Vietnam.
IPEF needs to be an open, inclusive cooperation mechanism
At the meeting, leaders noted positive progress in discussions and negotiations on trade cooperation, supply chains, clean economy and fair economy.
The leaders affirmed the goal of building IPEF as an open, inclusive, flexible, sustainable and dynamic cooperation framework, contributing to a future of peace, stability, development and prosperity for all. people.
IPEF needs to bring practical benefits to economies, especially developing countries, by attracting new financial sources and investments into the region. Accordingly, two new financial funds will be established: the IPEF Climate Fund and the IPEF Catalytic Finance Fund, with an initial capital of about 30 million USD, to support projects on clean economic transformation.
President Vo Van Thuong attends the dialogue between leaders of APEC economies with guests Photo: VNA
Speaking at the meeting, President Vo Van Thuong proposed three major directions in implementing cooperation in the coming time.
First , IPEF needs to be an open, inclusive, non-discriminatory cooperation mechanism, supporting a rules-based multilateral trading system; welcomes the participation of countries inside and outside the region; Support and supplement other regional economic connection and connection initiatives.
Second, cooperation needs to meet development needs and balance the interests of all parties; Respect and take into account the differences and unique characteristics of each country; focus on technical support and capacity building.
Third, encourage new investment in infrastructure construction, clean energy conversion, and high-tech industrial production in the region