Multilateral diplomacy - A key in international integration

08:30 | 20/01/2019 Cooperation

(VEN) - 2018 marked a new journey in Vietnam’s international economic integration, changing from in the face of new trends in international trade and economics to the implementation of new-generation free trade agreements (FTAs).

multilateral diplomacy a key in international integration
Vietnamese Prime Minister Nguyen Xuan Phuc (second from the left) and Chinese General Secretary, President Xi Jinping (third from the left) visit the booths of Vietnamese businesses at the first China International Import Expo in Shanghai (CIIE 2018)

Promoting economic links

Vietnam is currently a member of economic cooperation mechanisms in the region and globally, such as the World Trade Organization (WTO), World Bank (WB), International Monetary Fund (IMF), World Economic Forum (WEF), Asia-Europe Meeting (ASEM), Forum for East Asia-Latin America Cooperation (FEALAC), Association of Southeast Asian Nations (ASEAN), Asia-Pacific Economic Cooperation (APEC), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and so on.

Ambassador Duong Chi Dung, head of Vietnam’s permanent mission to the United Nations (UN), the WTO and other international organizations in Geneva, said Vietnam’s successful hosting of the APEC Year 2017 and important role in the formation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has contributed to affirming the country’s position, and raising the relations with major partners.

A new journey

Vietnam has implemented 10 FTAs, and prepares to complete, sign, ratify and implement six other FTAs, thereby establishing a FTA network with nearly 60 partners, including most of the world’s leading economic centers.

2018 was also the time when Vietnam completed the roadmap to deploy WTO accession commitments, carry out tariff reduction under the ASEAN Trade in Goods Agreement (ATIGA), and implement other FTA commitments. The official adoption of a resolution on the ratification of the CPTPP, which will take effect on January 14, 2019, and the completion of negotiations and preparation for signing the EU-Vietnam Free Trade Agreement (EVFTA) will help Vietnam become an important link of the regional economic cooperation network.

On August 8, 2018, the Party Central Committee’s Secretariat issued Directive 25-CT/TW on promoting and enhancing the role of multilateral diplomacy until 2030, with a focus on economic cooperation.

The issuance of Directive 25-CT/TW has strongly affirmed Vietnam’s policy in the implementation of multilateral diplomacy, as an active participant in international integration, a reliable partner, and responsible member of the international community.

multilateral diplomacy a key in international integration

At the 30th Diplomatic Conference held in August 2018, Party General Secretary Nguyen Phu Trong emphasized that in the coming time, the major task is to continue to deploy and promote the results of the APEC Year 2017, especially promoting collaboration with partners to implement Vietnam’s initiatives. Vietnam should play a worthy role in the process of building the ASEAN Community, consolidate ASEAN’s central role in the region, and well prepare for the role as chair of ASEAN in 2020. Vietnam should also actively participate in activities in the framework of the UN, especially in the implementation of the UN Sustainable Development Goals (SDGs), and canvass countries for Vietnam’s position as a non-permanent member of the UN Security Council for the 2020-2021 term.

Former Ambassador and Head of Vietnam’s permanent mission to the UN Nguyen Phuong Nga said Vietnam would create new milestones in multilateral diplomacy, including achieving success in the 2019 UN Security Council election that will be held in mid-2019 during the 73rd session of the UN General Assembly and well undertaking the position as a non-permanent member of the UN Security Council for the 2020-2021 term; proposing new initiatives to promote the role of diplomacy; sharing Vietnam’s development experiences; and contributing to the implementation of the 2030 Agenda for the UN SDGs.

At the Vietnam International Economic Integration Forum 2018, held on December 4, Deputy Prime Minister Vuong

Dinh Hue directed to be consistent with international economic integration, consider multilateral diplomacy as a key to

build an autonomous economy and enhance the nation’s endogenous power, focus on exports and selectively attract

high-quality foreign investment.

Thu Hang