Prime Minister Pham Minh Chinh received OECD Secretary General Mathias Cormann on his official visit to France in November 2021. Photo: VNA

Influential organization

The Organization for Economic Cooperation and Development (OECD), founded in 1960, currently has 38 members, mostly developed countries. The purpose of the OECD is to strengthen economic cooperation and policy coordination among member countries on world economic issues and development.

The functions of the OECD are: Forum for dialogue between member countries, international organizations and researchers on socio-economic issues; conduct research, forecast, make recommendations and advise member countries in planning and coordinating socio-economic development policies.

The OECD has a lot of influence on developed countries in formulating policies for economic cooperation and development.

Since 2007, the OECD has strengthened cooperation with Southeast Asia through the Resolution to foster relations with Southeast Asia, considering the region as a strategic priority. In May 2014, at the initiative of Japan, OECD officially announced the Southeast Asia Regional Program (SEARP).

The objective of the program is to support the economic reform process of Southeast Asian countries through sharing development experiences, thereby promoting sustainable and inclusive economic growth, regional economic integration and linkage, especially within the frameworks of ASEAN and APEC.

Substantial and effective cooperation

In March 2008, Vietnam officially became a member of the OECD Development Center; Vietnam is also a member of the Working Party on Aid Effectiveness.

Since 2012, Vietnam has always developed a bilateral cooperation plan with the OECD for the period 2012-2015 and 2016-2020. In November 2021, in Prime Minister Pham Minh Chinh's delegation to visit France, the two sides officially signed a Memorandum of Understanding on enhancing cooperation between Vietnam and the OECD in the 2021-2025 period.

On the basis of following the direction and specific cooperation program framework with each ministry and sector, the Vietnam-OECD cooperation has developed substantively and effectively. By implementing the cooperation program for the period 2016-2020, the two sides achieved outstanding results.

The two sides maintain delegation exchanges at different levels and take advantage of contacts on the sidelines of multilateral conferences to exchange and strengthen cooperative relations.

During the 2016-2020 period, Vietnam cooperated with the OECD to organize two events: the OECD Forum on Southeast Asia 2016 in Hanoi (June 14-15), the 10th Regional Anti-Corruption Conference in Hanoi (December 6, 2019).

The two sides will focus on implementing activities within the framework of the Vietnam-OECD MOU for the period 2022-2026 and jointly develop the OECD-ADB Report on the Survey of Vietnam Economic Data (expected to be published in July 2022).

The OECD Ministerial Conference will take place in Korea. Photo: OECD

Active member of SEARP

Vietnam has been an active member of the OECD Southeast Asia Regional Program (SEARP) since its inception in 2014.

Every year, Vietnam sends delegations to attend and contribute to OECD Regional Forums within the framework of the SEARP.

Vietnam is a member of the Program Advisory Board and was selected as the Co-Chair of the SEARP for the term 2022-2025 with Australia.

This is the first time Vietnam chairs a high-standard mechanism of an organization of which Vietnam is not a member. This affirms the recognition of Vietnam's international position, the confidence of OECD countries and the region in Vietnam's capacity in linking the OECD and the region to successfully assume this position.

This is also an important step in implementing the policy of the 13th Party Congress on comprehensive and extensive international integration; strengthen and raise the level of multilateral diplomacy.

The term of SEARP Co-Chair (2022-2025) is also the period when Vietnam recovers and develops, implements the Socio-Economic Development Plan for the period 2020-2025, creating a premise towards the strategies for 2030 and 2045.

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