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President puts forth major orientations for effective implementation of IPEF

VGP - The Indo-Pacific Economic Framework for Prosperity (IPEF) needs to be an open, inclusive, and non-discriminatory cooperation mechanism that supports the rules-based multilateral trading system.

November 18, 2023 1:52 PM GMT+7
President puts forth major orientations for effective implementation of IPEF- Ảnh 1.

President Vo Van Thuong attends a speech at a meeting of leaders of the Indo-Pacific Economic Framework for Prosperity (IPEF), San Francisco, the U.S., November 16, 2023 - Photo: VNA

Vietnamese President Vo Van Thuong made the above statement while delivering his remarks at a meeting of leaders of IPEF partner nations which took place in San Francisco, the U.S., on November 16 (local time).

Addressing the event, Vo said, the IPEF is expected to become a model of dynamic and efficient economic connectivity, bringing practical benefits to the people, and contributing to peace, stability, and prosperity in the region and the world.

Trade ministers had agreed on important premises for cooperation based on the principles of equality, mutual benefit, inclusiveness, adherence to international law, and respect for the political institutions of each country, he noted.

He suggested the IPEF should welcome the participation of countries within and outside the region, and complements and supplements other regional economic connectivity initiatives.

Cooperation within the IPEF should meet the development needs of each party, balance the interests of all parties, respect and take into account the differences and particular characteristics of each country, and focus on technical support and capacity building, the Vietnamese leader highlighted.

He called on nations to encourage new investment in building infrastructure, transition to clean energy, and high-tech industrial production in the region.

Concluding the meeting, the leaders adopted the Leaders' Statement on the IPEF./.