Vietnam makes suggestions at OECD Ministerial Council Meeting 2023

Minister of Foreign Affairs Bui Thanh Son is taking part in the Organisation for Economic Cooperation Development (OECD) Ministerial Council Meeting 2023 in Paris on June 7 - 8.

Minister Son attended the event as representative of Vietnam – co-chair of the OECD Southeast Asia Regional Programme, at the invitation of OECD Secretary-General Mathias Cormann and the UK’s Foreign Secretary James Cleverly.

Themed “Securing a Resilient Future: Shared Values and Global Partnerships”, the meeting is the most important event of the OECD in 2023, attracting the participation of ministers of the OECD member states and guest countries, along with leaders of the European Commission and many international organisations.

Addressing the event, the Vietnamese official emphasised that sustainable and inclusive growth is secured only when a global and overarching approach centred on people is adopted.

Countries should continue creating new growth impetuses while stepping up technology application and innovation to achieve a greener, cleaner, and smarter ecosystem. This process needs to be carried out in a concerted and harmonious manner, from regulations and policies to apparatus, from infrastructure to technology, and from financial investment to human resources training to ensure that no one or no country is left behind, he remarked.

Making several important proposals, Son said that first, the OECD and countries should enhance policy coordination, minimise barriers, protect trade and investment, and build a smooth global trade system based on law, freedom, equality, transparency, and inclusiveness, with the World Trade Organisation (WTO) at the centre.

Secondly, as a body giving policy advice and setting up global standards, the OECD should increase dialogue with developing countries and take into consideration the conditions and viewpoints of countries outside the bloc in its policy and global standard making process.

And thirdly, the organisation should help developing countries improve their competitiveness, gain a foothold in global value chains, effectively adapt to global policy adjustments such as the global minimum corporate income tax and carbon border tax, narrow the digital and technological gap, and tap into potential of female workers and small- and medium-sized enterprises, according to the minister.

He stressed that as co-chair of the OECD Southeast Asia Regional Programme, Vietnam will continue making active and responsible contributions to efforts in tackling regional and global challenges.

To further strengthen cooperation between Southeast Asian countries and OECD, Vietnam will host the second OECD - Southeast Asia Ministerial Forum this October. The initiative has been welcomed by the OECD Ministerial Council Meeting.

At the event, the OECD perceived that Asia will be the growth driver and a bright spot of the global economy in 2023 and 2024.

Member countries affirmed that they attach importance to the role of the Indo-Pacific region, and Southeast Asia is one of the top priorities of the OECD. The meeting agreed to boost coordination with and support for Southeast Asian nations to sustain the growth trend and further approach OECD standards and regulations.

Within the meeting’s framework, the Vietnamese delegation also attended many other important activities, including a global forum on technology and a workshop on changes to global tax policies.