Prime Minister attends 2nd AZEC Leaders' Meeting in Laos

The summit, chaired by Japanese Prime Minister Ishiba Shigeru, is an important platform for AZEC member countries to share their efforts towards achieving net-zero emissions and to discuss ways to enhance regional cooperation in favor of energy transition.

Leaders to the event once again agreed to promote the development of affordable clean and sustainable energy system, strengthen cooperation in developing new energy sources such as hydrogen and geothermal power, and boost public-private partnership in clean energy projects in the region.

Addressing the summit, Japanese Prime Minister Shigeru Ishiba said there are 100 memoranda of understanding and cooperation initiatives that have been underway in Indonesia (thermal power projects), Viet Nam (power distribution and carbon market development), and Laos (clean power projects).

AZEC countries will also promote cooperation in industry, transport and agriculture, said Ishiba.

Speaking at the event, Vietnamese Prime Minister underlined the need to take more drastic actions with stronger will and determination in response to climate change, towards achieving net-zero emissions in Asia.

He voiced support for the idea of establishing ASEAN power market, calling on AZEC countries to accelerate research, development and transfer of technologies and new-generation, low-carbon energy solutions.

Pham also called for promoting new climate finance models based on public-private partnership, creating favorable conditions for developing countries to access more preferential loans, and taking into account of establishing AZEC fund for green projects.

AZEC countries need to strengthen policy coordination through the Asia Zero Emission Center while promoting cooperation in high-quality workforce training for energy and green technology fields.

The summit adopted the AZEC leaders' Statement which serves as the basis for AZEC countries to deploy cooperation activities.

AZEC is a platform for cooperation towards carbon neutrality/net-zero emissions in the Asia region, involving partner countries from 11 nations (Australia, Brunei Darussalam, Cambodia, Indonesia, Japan, Lao PDR, Malaysia, Philippines, Singapore, Thailand, and Viet Nam./.