UN summit looks to facilitate transit, trade in Asia-Europe

16:19 | 08/03/2017 Global Economy

A summit of the United Nations (UN) is scheduled to take place in Hanoi on March 7-9 to enhance cooperation ​on transit, trade facilitation and the 2030 ​Agenda on Sustainable Development.

Hai Phong port in the north of Vietnam (Illustrative image - Source: VNA)

The event is co-held by the Ministry of Foreign Affairs and the UN Office ​of 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 ​landlocked ones, as well as development partners and international seaport business associations also join the summit.

The summit includes six sessions, focusing discussion on ​transit, trade facilitation and acceleration of the 2030 ​Agenda on ​Sustainable Development.

Participants will discuss measures to boost cooperation between ​landlocked and transit 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 landlocked and transit countries to join the regional and global value chain.

Theo VNA