Vietnam willing to join efforts for CPTPP elevation, IPEF negotiations: Minister

Vietnam willing to join efforts for CPTPP elevation, IPEF negotiations: At the Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meeting in Detroit, Michigan, the USA. (Photo: VNA)

On May 26-27, Vietnamese delegation led by Minister of Industry and Trade Nguyen Hong Dien attended the Ministerial Meeting of the Indo-Pacific Economic Framework for Prosperity (IPEF). Minister Dien also attended a meeting of Ministers from ASEAN nations joining the Indo-Pacific Economic Framework for Prosperity (IPEF) and the IPEF Ministerial meeting.

The Meeting was co-chaired by Ambassador-Chief US Trade Representative (USTR) Katherine Tai and US Secretary of Commerce Gina Raimondo.

Minister Dien made his remarks while attending the recent Ministerial Meeting among members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Detroit, Michigan, the US. Participating countries agreed that it is necessary to continue promoting the effective implementation of the agreement to bring full and practical benefits to people and enterprises, particularly small- and medium-sized ones.

At these meetings, Minister Dien stated Vietnam will continue to work closely with other IPEF countries, including those from ASEAN to complete basic negotiations of the initiative this year.

For the IPEF’s Pillar III of Clean Economy, Vietnam wishes to see more cooperation activities among the ASEAN partners in clean energy production, and the development and transfer of technologies and solutions serving the elimination of greenhouse gases, among others, serving the energy transition of each country.

Lauding efforts by partner nations so far, the Minister affirmed Vietnam always supports and is ready for discussion to contribute to the building of practical content suitable to each member's development conditions.

He also called on participating countries to continue upholding the principles agreed upon from the beginning of negotiations.

On the occasion, the Vietnamese Minister met with US Secretary of Commerce Gina Raimondo and Japanese State Minister for Foreign Affairs Yamada Kenji.

US Secretary of Commerce Raimondo told Minister Dien that the US is ready to work with Vietnam to discuss some necessary flexible options to ensure that countries respect Vietnam's legal system and work together on such a basis.

Minister Dien affirmed that Vietnam will work closely with the US and other countries to ensure the overall success of the IPEF. He voice support for the US view of fair commerce, which does not discriminate, cause burden or restrict trade, or harm production and workers. Vietnam commits to continue to actively cooperate with the US to comprehensively address concerns of both nations, thereby maintaining their stable commercial relations, towards a harmonious, sustainable and mutually beneficial trade balance, the minister stated.

Meeting with Minister Yamada, Minister Dien welcomed the three ODA projects worth 61 billion JPY (434.2 million USD) freshly signed between Vietnam and Japan on the sidelines of the 49th G7 summit in Hiroshima. He said room remains extensive for the sides to work together in the fields of energy, food processing, support industries, and material technology.

The Vietnamese Government is committed to ensuring an open and stable business climate for enterprises of the two countries to operate and succeed in Vietnam, he said.