On the afternoon of November 16, local time, in San Francisco – USA, a meeting was held with senior leaders of the Indo-Pacific Economic Cooperation Framework for Prosperity (IPEF).
The meeting was attended by senior leaders of APEC economies, heads of government, and representatives of several countries, including the US, India, Brunei, Indonesia and South Korea. , New Zealand, Japan, Malaysia, Australia, Fiji, Philippines, Thailand, Singapore and Vietnam.
IPEF needs to create an open, inclusive cooperation mechanism
The leaders at the meeting noted positive progress in discussions and negotiations on trade cooperation, supply chains, clean economy and fair economy.
The Leaders reaffirmed the goal of building IPEF as an open, inclusive, flexible, sustainable and dynamic cooperation framework that will contribute to a future of peace, stability, development and prosperity for all peoples.
IPEF needs to deliver practical benefits to economies, especially developing countries, by attracting new financial sources and investments into the region. Accordingly, to support projects on clean economic transition, two new financial funds will be established: the IPEF Climate Fund and the IPEF Catalytic Finance Fund, with an initial capital of approximately USD 30 million.
President Vo Van Thuong attends the dialogue between the leaders of APEC economies with guests Photo: VNA
Speaking at the meeting, President Vo Van Thuong proposed three major directions in implementing cooperation in the coming period.
First, IPEF needs to become an open, inclusive, non-discriminatory cooperation mechanism supporting the rules-based multilateral trading system; welcomes the participation of countries inside and outside the region; Support and complement other regional economic connections and connection initiatives.
monday, Cooperation is needed to meet development needs and balance the interests of all parties; Respect and take into account the differences and specific characteristics of each country; Focus on technical assistance and capacity building.
Tuesday, Encourage new investment in infrastructure construction, clean energy transition and high-tech industrial production in the region.
At the end of the meeting, the leaders adopted the Leadership Declaration on an Indo-Pacific Economic Framework for Prosperity.
Vietnam prioritizes response to climate change
At noon the same day, the first leaders’ activity at the 2023 APEC Summit took place – a dialogue session between leaders of APEC economies with guests including the President of Colombia, the Prime Minister of Fiji and the Minister of Industry and Trade of India.
US President Joe Biden confirmed that with the theme “sustainability, climate and fair energy transition”, the dialogue is an opportunity for APEC leaders and guests to discuss common challenges of the region and the world, to promote cooperation and joint Discusses initiatives and solutions. Action for sustainable development goals.
As the first APEC leader to speak in the discussion section of the dialogue, President Vo Van Thuong stressed that climate change is an urgent global issue, requiring determination, political responsibility as well as solidarity from all economies. Is.
The President shared Vietnam’s vision of treating climate change response as a priority in national development policies and its strong commitment to achieving net zero emissions by 2050…Vietnam joining the Just Energy Transition Partnership (JETP) It is one of the first three developing countries. With a group of international partners and are implementing multiple solutions together.
The President called on APEC and partners to promote cooperation programs on renewable energy and green industries…
The President also called on developed countries and international partners to increase sharing of scientific and technological achievements, financial contributions, and to immediately operationalize the Loss and Damage Fund to support countries. Developing and underdeveloped countries react to climate change. The global financial system needs to improve its capacity to provide green finance and effectively mobilize resources from the private sector.
The same afternoon, the President participated in the opening session of talks between APEC leaders and members of the APEC Business Advisory Council (ABAC). It is an annual activity for APEC leaders to have candid, concrete discussions and hear recommendations from the regional business community.