On June 19, in the city of St. Petersburg (Russia), Deputy Prime Minister Le Thanh Long and the Vietnamese delegation attended the Solemn Opening Session of the 28th Saint Petersburg International Economic Forum with the theme "Common Values: The foundation for growth in a multipolar world".
Deputy Prime Minister Le Thanh Long was one of the key speakers of the opening session.
Speaking at the opening session, Deputy Prime Minister Le Thanh Long assessed the 28th Saint Petersburg International Economic Forum as an important event, a gathering place for new ideas and a leading prestigious policy dialogue forum in the region and the world.
The Deputy Prime Minister affirmed that in order to overcome global challenges for sustainable and inclusive development, countries need to promote common values, which are to create trust, sincerity and solidarity among countries and peoples; promote the spirit of cooperation, responsible behavior, respect for international law and the United Nations Charter; take people as the center, goal, subject and driving force of all policies.
In that spirit, the Deputy Prime Minister proposed to spread the development achievements of science and technology, innovation and digital transformation to create new momentum for growth, as well as coordinate to accelerate the process of reforming global governance institutions.
The Deputy Prime Minister highly appreciated President Vladimir Putin's "Great Asia Partnership" initiative and affirmed that Vietnam is ready to promote its role as a bridge to promote cooperation between the Asian Economic Union and the Association of Southeast Asian Nations (ASEAN).
Sharing about current hot issues such as tariffs and armed conflicts, the Deputy Prime Minister clearly stated Vietnam's stance and viewpoint.
Regarding the tariff policies of countries, the Deputy Prime Minister assessed that if the mutual retaliatory tariff policies continue to escalate, it will have a profound impact on the multilateral trade system and global economic growth, which cannot be fully qualified.
As a very open economy, Vietnam's economy is sensitive to changes in world trade and tariff policies of other countries, especially exports that may decrease, foreign direct investment (FDI) flows are affected and macro- operational pressure increases.
The Deputy Prime Minister emphasized the viewpoint of the Party, State and Government of Vietnam to be proactive, calm, carefully assess the situation and make flexible adjustments. Vietnam is one of the first countries to negotiate trade confrontation with the US. Up to now, the two sides have completed 3 negotiation rounds at both the technical and ministerial levels, aiming to reach a fair and stable agreement, ensuring the legitimate interests of the parties involved in the coming time.
To respond to the changing global trade environment, Vietnam is synchronously implementing many solutions including: Diversifying markets, implementing measures to support businesses and restructuring the economy.
Regarding armed conflicts, the Deputy Prime Minister emphasized that Vietnam is a country that has gone through many wars, Vietnam does not want conflicts to occur anywhere; called on all parties to find appropriate solutions through negotiations; affirmed that Vietnam is ready to make responsible contributions to ensuring a peaceful, stable and prosperous future for the whole of the world.
