Việt Nam shares experience in economic development towards social justice

Permanent Deputy Prime Minister Phạm Bình Minh attends the Sustainable Development Impact Meeting held by the World Economic Forum in New York on September 23. — VNA/VNS Photo

Permanent Deputy Prime Minister Phạm Bình Minh shared Việt Nam’s experience in economic development towards social justice while attending a Sustainable Development Impact Meeting held by the World Economic Forum in New York on September 23.

The event took place on the occasion of the high-level week of the 77th United Nations General Assembly.

Addressing a discussion on promoting inclusive trade, Minh emphasised the message that international trade not only serves the goal of pure economic growth but also needs to ensure environmental sustainability and inclusive benefits for all.

To share trade benefits fairly, the Vietnamese representative proposed several priorities to promote inclusive trade through public-private cooperation, in which the people and businesses play central roles.

"It is necessary to develop an overall, reciprocal and cohesive trade policy between green, digital and inclusive trade, and continue promoting the indispensable role of the rules-based, free, fair, transparent and inclusive multilateral trading system," he noted.

From the perspective of an economy that has joined 15 bilateral and multilateral free trade agreements (FTAs), including new-generation deals with high standards on labour and the environment, Minh affirmed that the important lesson that Việt Nam had drawn was not to sacrifice social progress and justice, and the environment to pursue pure economic growth.

Many delegates attending the event also shared Việt Nam’s development views and appreciated Minh's proposals in promoting inclusive trade.

WEF Managing Director Mirek Dusek assessed that Việt Nam was an important part of the world trade as well as the global supply chain.

He said Việt Nam had not only gained great achievements in hunger eradication and poverty reduction but also had been making many positive contributions in the field of environmental protection and climate change response, becoming a model for other nations to follow. — VNS