Vietnam a socioeconomic success story: WTO director general

By Minh Son   January 19, 2024 | 03:17 am PT
Vietnam a socioeconomic success story: WTO director general
Prime Minister Pham Minh Chinh (right) and Ngozi Okonjo-Iweala (left), the director general of the World Trade Organization, in a meeting at Davos, Switzerland. Photo by Nhat Bac
Ngozi Okonjo-Iweala, director general of the World Trade Organization (WTO), hailed Vietnam as a “story of successful socio-economic development” during a meeting with Prime Minister Pham Minh Chinh on Thursday.

Vietnam achieved a 5.05% economic growth rate last year, making it one of the countries with relatively high growth rates regionally and globally amid a global recession.

Okonjo-Iweala said she was impressed and considered Vietnam’s development a huge success.

She also praised the increased collaboration between the WTO and Vietnam in recent years.

In response, PM Chinh stated that in the process of international economic integration, Vietnam valued cooperation and support from the WTO.

However, he expressed concerns about protectionism and new climate change standards posing serious challenges to developing economies and suggested that the WTO work with developed nations to offer technical assistance to these countries.

Okonjo-Iweala said her organization had been working with experts from the European Commission to receive and handle requests for technical assistance from developing countries.

On Thursday, PM Chinh also met with Daren Tang, director general of the World Intellectual Property Organization (WIPO), and Amani Abou Zeid, commissioner for Infrastructure and Energy at the African Union Commission.

During the meeting with the former, PM Chinh affirmed Vietnam’s commitment to protecting intellectual properties and continuously innovating and applying new knowledge to boost socio-economic development.

Vietnam hopes to get the WIPO’s guidance during its development process, he said.

Tang praised the Vietnamese youth’s innovative spirit and stated that the organization was eager to assist the country with matters related to intellectual property.

In the meeting with Abou Zeid, the PM expressed Vietnam’s desire to strengthen cooperation with African countries, particularly in agriculture and trade.

Abou Zeid noted that tourism was another potential industry for both sides to focus on soon.

The meetings took place during PM Chinh’s trip to Davos, Switzerland, to attend the World Economic Forum’s annual meeting.

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