Connect with us

Politics

Vaccine nationalism and challenges for developing countries

Published

on

Poorer countries have to face four major challenges in the fight against coronavirus: vaccine funding, domestic structural bottlenecks, overloaded medical forces, and identifying the people who need a vaccine.

With a new Covid-19 vaccine, many governments of low-income countries may find themselves unable to purchase sufficient doses of vaccine for their (usually large) population.

Recent efforts from rich nations, such as initiatives taken by European nations, Bill and Melinda Gates Foundation’s commitments worth of billions of USD, and many more provide some hope that immunization costs for poor countries can be somewhat reduced. But even then, these countries will still have to spend hundreds of millions of USD, if not billions, to buy enough doses of vaccines for their people.

“Many governments of low-income countries may not be able to pay the costs of deploying a new Covid-19 vaccine. They may, however, be able to pay in smaller installments over time. One way to provide this financing is a bond structure backed by OECD countries that would allow the money to be raised in capital markets. The OECD countries would make a legally binding commitment to pay investors in bonds over time.” (Rebecca Weintraub, Prashant Yadav and Seth Berkeley, Harvard Business Review).

Chủ nghĩa dân tộc vắc-xin và thách thức với nước đang phát triển

Junior Mhlongo, the first South African to receive a trial dose of a Covid-19 vaccine

Two domestic structural bottlenecks

Having enough doses of the vaccine to vaccinate the entire population is a problem. Another hindrance facing developing country governments is related to the ability to implement a fair, inclusive and cost-effective domestic immunization program. To do this, these countries need to address two domestic structural bottlenecks: bureaucratic obstacles and infrastructure problems.

Countries affected by corruption may see the vaccine being made available to the top ranks long before it is made available to the rest of the population. Ineffective bureaucracy can also lead to poor management of immunization resources. For example, if the majority of resources go to a large city while the rural provinces heavily affected by the virus are ignored, this could cause dangerous consequences for public health.

National public health interventions: in this case, an attempt to vaccinate millions of people in middle and lower income countries also has to deal with inadequate infrastructure. Without road networks and the resources to mobilize air transport, vaccines will reach many parts of the population either too late, or not at all, and this will cause serious logistical barriers. These must be solved to offer equal access to vaccines.

Healthcare workforce is overloaded

The pandemic has overloaded healthcare systems around the world, and puts healthcare workforces at serious risk. Thousands of frontline medical workers have died from coronavirus, with more than 900 in the US alone. In developing countries, this is already a bigger problem given the much lower ratio of doctors to the population, meaning that not all coronavirus-infected patients are fully treated.

“This could be an especially big problem in low- to middle-income countries, where the depletion of health care workers’ ranks could also weaken existing programs to vaccinate people against other diseases. Investment in personal protective equipment and testing capacity is needed to protect the global frontline workforce.” (Rebecca Weintraub, Prashant Yadav and Seth Berkeley, Harvard Business Review).

Identify who needs the vaccine

Many citizens of developing countries lack official identities. The figure is estimated to be up to more than 1 billion. One way or another, this poses a great challenge for governments trying to reach all of their often dispersed populations. With no way to verify identity in an informal society, it is almost impossible for the authorities to know who has been and who has not been vaccinated. Initial supply will be limited; thus it is important to certify that each dose has been used for an actual patient.

“To address this problem, biometric digital IDs can be a game changer. For example, Simprints has deployed biometric IDs on health and humanitarian projects across 12 countries, which have increased health care visits and quality while preventing fraud. It is now partnering with Japanese telecom giant NEC to develop an affordable, interoperable, biometric solution for vaccines that can identify patients even in rural and offline settings. Using robust digital tools can help governments overcome identification barriers to ensure that everyone receives a Covid-19 vaccine.” (Rebecca Weintraub, Prashant Yadav and Seth Berkeley, Harvard Business Review).

Chủ nghĩa dân tộc vắc-xin và thách thức với nước đang phát triển

Russia’s Covid-19 vaccine named Sputnik V. Photo: RDIF

Ensuring a fair strategy – COVAX

We cannot deny that a fair strategy for Covid-19 (if achieved) will be much different and potentially more challenging than HIV, since the virus is much more contagious. It is not like HIV where the majority of patient’s daily activities do not present a risk of transmission. The coronavirus can be easily spread through droplets and respiratory surfaces.

To prevent vaccine nationalism from hampering global vaccination efforts, the World Health Organization and two other groups, Coalition for Epidemic Preparedness Innovations, and Gavi, a global non-profit group focused on vaccine delivery, have established a system to ensure equitable distribution and access to vaccines – the COVID-19 Vaccine Global Access Facility (COVAX). It calls on high-income countries to invest $18 billion in 12 experimental vaccines and ensures that early access is shared worldwide when effective doses of the vaccine are available.

COVAX seeks to lure rich nations by making them bet on an effective vaccine for different candidates, and if not funded, any of these 12 vaccines by COVAX probably fails.

As many as 172 countries have participated in COVAX. However, at a press conference on August 25, the WHO Director said that additional funding would be needed and more countries should make binding commitments to COVAX. The US, India and Russia have declined to join while China participated in the initiative. President Xi Jinping pledged that any effective vaccine developed by China would be distributed as a “public good” globally. However, some worried that vaccines coming from China may have quality problems after a 2018 scandal.

As Bill Gates wrote, “during a pandemic, vaccines and antivirals cannot simply be sold to the highest bidder”; instead, they should be readily available and affordable for those most threatened by the virus. On June 18, WHO released a “strategic allocation” plan for immunization, which will give priority to nearly 2 billion people worldwide, including frontline health care workers, people of over 65 years old and young people under 30 years old if they have a higher risk of Covid-19 infection because of underlying conditions such as cancer, obesity, diabetes or chronic respiratory diseases.

However, as richer countries continue to adopt the ‘each-country-for-itself’ approach, such an allocation plan is most likely to fail. Poorer countries will be left behind as prices rise – the result of an inevitable competition in dosage between countries that can afford it.

Experts are concerned that we may see a repeat of the last pandemic, where wealthy nations bought all available supplies of vaccines to fight the H1N1 flu virus in 2009-2010. Which countries get the vaccine and how much they are willing to pay for it will have consequences for international relations in coming years, with vaccines potentially becoming a leveraged tool in diplomatic affairs.

A fair distribution of doses around the world will be much more effective in pandemic control than in vaccinating entire populations in the richest countries. With unprecedented efforts around the world, we have come very close to an effective vaccine, and vaccine nationalism is a major hurdle that will need to be overcome to ensure that this effort is successful globally.

Pham Vu Thieu Quang (Leiden University, the Netherlands)

Source: https://vietnamnet.vn/en/feature/vaccine-nationalism-and-challenges-for-developing-countries-671369.html

Politics

UK joining CPTPP a fundamental change to the bloc: minister

Published

on

UK Minister of International Trade Greg Hands visited Vietnam on Wednesday to explore trade cooperation opportunities between the two countries. His visit came amidst the UK’s pursuit of full membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023.

Vietnam is the first stop on the minister’s three-day trip to three Southeast Asian countries, all of which are founding members of the partnership.

During an exclusive interview with Tuoi Tre News, Hands emphasized what the UK can offer the CPTPP, as well as discussed the UK’s strong strategic partnership with Vietnam.

In a speech at Lancaster House on January 23, UK Trade Secretary Kemi Badenoch outlined five priorities for trade. What are your priorities as the Minister of State for Trade Policy?

My personal priorities are, first, to get the UK into the CPTPP. Vietnam will play a crucial role in that progress. My second priority is to do a free trade agreement with India this year, which is also another important part of our work with [India’s] huge economy.

The third area is removing trade barriers around the world to make sure that British goods and services can more easily enter markets anywhere in the world, including Vietnam.

The fourth priority is doing more work in the United States, particularly through state-level memoranda of understanding with individual U.S. states. Those are like mini-arrangements to improve the flow of services between the UK and individual U.S. states.

UK Trade Secretary Kemi Badenoch said she wants to seal high-quality deals with India and the CPTPP. Can you tell us about the UK’s aspiration to join the CPTPP and give an update on its progress? How does Vietnam fit into that journey?

The UK joining the CPTPP will be a major move. The UK will be the first country in the world to join the CPTPP and its 11 founding members. The UK joining would fundamentally change the CPTPP, which is currently about 12 percent of global gross domestic product (GDP). With the UK, that number will rise to 15.5 percent. It also changes the geography of the CPTPP, which is currently a Pacific Rim trade agreement. 

The UK joining the CPTPP would make it a global agreement – a global plurilateral agreement that would include pro-free trade countries. It is a huge opportunity for Vietnam as a founding member. We’ll be setting global free trade rules of the future. The CPTPP is a very good agreement because it removes more than 99 percent of tariffs. It offers liberal regulations in terms of rules of origin, data, digital trade. These are all important things for both the UK and Vietnam.

I think we’re nearing a conclusion to the process of joining the CPTPP. We are looking for a further round [of talks] in February and we hope that will clear up the remaining issues that are still out there. We’ve made a lot of progress. We, of course, understand the very high standards of the CPTPP and that they want to keep those high standards. The UK believes that the CPTPP has a great future ahead with those standards and that the UK can fulfill [those standards]. 

Do you have an expected timeline for the UK joining the CPTPP?

We just want to make it as quickly as possible. There’s still a negotiation ahead. I don’t really have a time limit for that negotiation. I think, given the interest of other countries and other parties in joining [the CPTPP], getting the UK in will enable the CPTPP member parties to move forward with other applications.

The UK is the fifth-largest economy in the world, and it wants to be a part of the CPTPP. Have you seen any obstacles during your negotiations?

Like every trade negotiation, there’re always some issues. The CPTPP is a bit different because it’s an existing agreement. We are not negotiating from scratch. Therefore, there’ll be some things that the UK needs to look at very carefully. There will be some areas where CPTPP parties will look very carefully at what the UK’s position is. So, it’s not a straightforward negotiation, but I think that CPTPP parties can be rest assured that the UK has very high standards and is very keen to join and to grow the CPTPP. 

Recently, the UK joined hands with the U.S in exporting control chips to China, which is also seeking membership in the CPTPP. Would there be any issues between China and the UK if both countries become CPTPP members?

We are not members of the CPTPP now, so it’s not right for the UK to comment on other countries joining in the future because we ourselves are not members. It’ll be a matter for whoever are the members of the CPTPP at the time. 

The UK, like many other countries, is looking at its supply chains and looking at the security of those supply chains. In relation to semiconductors, it is making sure that those supply chains are robust and have good access to semiconductors of different types. So, that is work the UK is doing and other countries are doing as well – ensuring that the security of their supply chains remains strong.

You might not be able to comment on other countries’ bids for joining the CPTPP, but last year you visited Taiwan, and Taiwan and China are both seeking membership in the CPTPP. So, if the UK becomes a member of the CPTPP first, which would allow it a vote to admit new parties, what would happen?

That’s a hypothetical question. Right now, we have to focus on the UK joining and I think it’s also strongly in Vietnam’s interest for the UK to join. We want Vietnam to be our best friend in the world trading system. I think Vietnam supports the UK because your country wants to grow the size of the agreement. Vietnam will then be right at the center of a growing movement for global free trade.

Vietnam is reporting a trade surplus with the UK. What are the pros and cons of this and how can we resolve any problems that arise in the future between the UK and Vietnam?

I don’t think there will be any trouble. We do about £6 billion [US$7.3 billion] of trade with Vietnam now. I think there’s big potential for growth for UK exporters to Vietnam. That figure shows huge potential. We think that we can sell more quality UK expertise, such as education, renewable energy, and financial services. The UK is very good at these three things, which I think Vietnam has a big demand for, particularly as you move toward net-zero emissions by 2050. The need for English language education is very strong in Vietnam. The UK, obviously, is the world’s best provider of English language education, and London has incredible capability in financial services. 

In terms of Vietnam selling to the UK, the obvious growth is agriculture exports thanks to the free trade agreement between us which came into effect in 2021. There has been a substantial rise in quota. Vietnam does not sell more rice, electronics, and footwear. Vietnam is gradually moving up the value chain with more complex products, more services, and more advanced technology products.

The trade agreement has gone well. I think quite a few people are used to using it and finding it helpful. I’ve not heard any complaints from any companies about how it’s working. We can always make sure that the UK government and the Vietnamese government engage to improve trade between us. That’s why I am here.

This year, we celebrate 50 years of diplomatic relations. What’s your vision for the future of the UK-Vietnam relationship?

The UK and Vietnam are natural partners. We’re good fits for each other. We have a common view on global free trade. 

It’s a fantastic achievement to have 50 years of diplomatic relations. We’ve done a lot of work. I have done a lot of work and a lot of people have done a lot of work to make sure that we get to a better place. We want to make sure that Vietnam’s energy system is resilient to be sustainable. 

The UK has the world’s largest installed offshore wind capacity and that is the expertise that we are looking to bring to Vietnam, which has got amazing resources to be able to use offshore wind. People-to-people contact is important too. A large number of Vietnamese students are studying in British universities. British schools and universities are setting up here. I went to one in Da Nang a few years ago. 

The strategic partnership was signed in 2010. I was here with the foreign secretary in 2020 to move that strategic partnership to the next 10 years. Now, it is still a very, very strong strategic partnership. That relationship is built on trade, on energy cooperation, on education, financial services, food and drinks being exchanged between our two countries. It will be a strong foundation for another 50 years of UK-Vietnam diplomatic relations.

Thank you for the discussion!

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

UK Minister of International Trade Greg Hands visited Vietnam on Wednesday to explore trade cooperation opportunities between the two countries. His visit came amidst the UK’s pursuit of full membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023.

Vietnam is the first stop on the minister’s three-day trip to three Southeast Asian countries, all of which are founding members of the partnership.

During an exclusive interview with Tuoi Tre News, Hands emphasized what the UK can offer the CPTPP, as well as discussed the UK’s strong strategic partnership with Vietnam.

In a speech at Lancaster House on January 23, UK Trade Secretary Kemi Badenoch outlined five priorities for trade. What are your priorities as the Minister of State for Trade Policy?

My personal priorities are, first, to get the UK into the CPTPP. Vietnam will play a crucial role in that progress. My second priority is to do a free trade agreement with India this year, which is also another important part of our work with [India’s] huge economy.

The third area is removing trade barriers around the world to make sure that British goods and services can more easily enter markets anywhere in the world, including Vietnam.

The fourth priority is doing more work in the United States, particularly through state-level memoranda of understanding with individual U.S. states. Those are like mini-arrangements to improve the flow of services between the UK and individual U.S. states.

UK Trade Secretary Kemi Badenoch said she wants to seal high-quality deals with India and the CPTPP. Can you tell us about the UK’s aspiration to join the CPTPP and give an update on its progress? How does Vietnam fit into that journey?

The UK joining the CPTPP will be a major move. The UK will be the first country in the world to join the CPTPP and its 11 founding members. The UK joining would fundamentally change the CPTPP, which is currently about 12 percent of global gross domestic product (GDP). With the UK, that number will rise to 15.5 percent. It also changes the geography of the CPTPP, which is currently a Pacific Rim trade agreement. 

The UK joining the CPTPP would make it a global agreement – a global plurilateral agreement that would include pro-free trade countries. It is a huge opportunity for Vietnam as a founding member. We’ll be setting global free trade rules of the future. The CPTPP is a very good agreement because it removes more than 99 percent of tariffs. It offers liberal regulations in terms of rules of origin, data, digital trade. These are all important things for both the UK and Vietnam.

I think we’re nearing a conclusion to the process of joining the CPTPP. We are looking for a further round [of talks] in February and we hope that will clear up the remaining issues that are still out there. We’ve made a lot of progress. We, of course, understand the very high standards of the CPTPP and that they want to keep those high standards. The UK believes that the CPTPP has a great future ahead with those standards and that the UK can fulfill [those standards]. 

Do you have an expected timeline for the UK joining the CPTPP?

We just want to make it as quickly as possible. There’s still a negotiation ahead. I don’t really have a time limit for that negotiation. I think, given the interest of other countries and other parties in joining [the CPTPP], getting the UK in will enable the CPTPP member parties to move forward with other applications.

The UK is the fifth-largest economy in the world, and it wants to be a part of the CPTPP. Have you seen any obstacles during your negotiations?

Like every trade negotiation, there’re always some issues. The CPTPP is a bit different because it’s an existing agreement. We are not negotiating from scratch. Therefore, there’ll be some things that the UK needs to look at very carefully. There will be some areas where CPTPP parties will look very carefully at what the UK’s position is. So, it’s not a straightforward negotiation, but I think that CPTPP parties can be rest assured that the UK has very high standards and is very keen to join and to grow the CPTPP. 

Recently, the UK joined hands with the U.S in exporting control chips to China, which is also seeking membership in the CPTPP. Would there be any issues between China and the UK if both countries become CPTPP members?

We are not members of the CPTPP now, so it’s not right for the UK to comment on other countries joining in the future because we ourselves are not members. It’ll be a matter for whoever are the members of the CPTPP at the time. 

The UK, like many other countries, is looking at its supply chains and looking at the security of those supply chains. In relation to semiconductors, it is making sure that those supply chains are robust and have good access to semiconductors of different types. So, that is work the UK is doing and other countries are doing as well – ensuring that the security of their supply chains remains strong.

You might not be able to comment on other countries’ bids for joining the CPTPP, but last year you visited Taiwan, and Taiwan and China are both seeking membership in the CPTPP. So, if the UK becomes a member of the CPTPP first, which would allow it a vote to admit new parties, what would happen?

That’s a hypothetical question. Right now, we have to focus on the UK joining and I think it’s also strongly in Vietnam’s interest for the UK to join. We want Vietnam to be our best friend in the world trading system. I think Vietnam supports the UK because your country wants to grow the size of the agreement. Vietnam will then be right at the center of a growing movement for global free trade.

Vietnam is reporting a trade surplus with the UK. What are the pros and cons of this and how can we resolve any problems that arise in the future between the UK and Vietnam?

I don’t think there will be any trouble. We do about £6 billion [US$7.3 billion] of trade with Vietnam now. I think there’s big potential for growth for UK exporters to Vietnam. That figure shows huge potential. We think that we can sell more quality UK expertise, such as education, renewable energy, and financial services. The UK is very good at these three things, which I think Vietnam has a big demand for, particularly as you move toward net-zero emissions by 2050. The need for English language education is very strong in Vietnam. The UK, obviously, is the world’s best provider of English language education, and London has incredible capability in financial services. 

In terms of Vietnam selling to the UK, the obvious growth is agriculture exports thanks to the free trade agreement between us which came into effect in 2021. There has been a substantial rise in quota. Vietnam does not sell more rice, electronics, and footwear. Vietnam is gradually moving up the value chain with more complex products, more services, and more advanced technology products.

The trade agreement has gone well. I think quite a few people are used to using it and finding it helpful. I’ve not heard any complaints from any companies about how it’s working. We can always make sure that the UK government and the Vietnamese government engage to improve trade between us. That’s why I am here.

This year, we celebrate 50 years of diplomatic relations. What’s your vision for the future of the UK-Vietnam relationship?

The UK and Vietnam are natural partners. We’re good fits for each other. We have a common view on global free trade. 

It’s a fantastic achievement to have 50 years of diplomatic relations. We’ve done a lot of work. I have done a lot of work and a lot of people have done a lot of work to make sure that we get to a better place. We want to make sure that Vietnam’s energy system is resilient to be sustainable. 

The UK has the world’s largest installed offshore wind capacity and that is the expertise that we are looking to bring to Vietnam, which has got amazing resources to be able to use offshore wind. People-to-people contact is important too. A large number of Vietnamese students are studying in British universities. British schools and universities are setting up here. I went to one in Da Nang a few years ago. 

The strategic partnership was signed in 2010. I was here with the foreign secretary in 2020 to move that strategic partnership to the next 10 years. Now, it is still a very, very strong strategic partnership. That relationship is built on trade, on energy cooperation, on education, financial services, food and drinks being exchanged between our two countries. It will be a strong foundation for another 50 years of UK-Vietnam diplomatic relations.

Thank you for the discussion!

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/politics/20230203/uk-joining-cptpp-a-fundamental-change-to-the-bloc-uk-minister/71295.html

Continue Reading

Politics

Vietnam, S.Korea aim to boost bilateral trade to $100bn this year

Published

on

Vietnam and South Korea have agreed to promote two-way trade to US$100 billion within this year and $150 billion by 2030 in a more sustainable and balanced manner by making the best use of existing bilateral and multilateral trade deals.

The agreement was reached on Tuesday during the talks between Vietnamese Prime Minister Pham Minh Chinh and South Korean Speaker Kim Jin-pyo, who is on a visit to Vietnam at the invitation of Vietnam’s National Assembly Chairman Vuong Dinh Hue, the Vietnam Government Portal reported.

The two sides expressed their pleasure that the two countries’ relations have fruitfully developed in all fields after 30 years of establishing diplomatic relations.

In the context of rapid and complicated changes in the world and regional situation, including the impact of the COVID-19 pandemic, the relationship between the two countries continues to maintain a stable development momentum, and the mutual political trust has been continuously strengthened.

Currently, South Korea holds the number-one position in foreign direct investment in Vietnam with a total capital of US$80.5 billion, with about 8,000 enterprises doing business in the Southeast Asia nation.

The Northeast Asian country also ranks second in development, tourism, and labor cooperation, and third in terms of trade cooperation with Vietnam, with a trade value of $88 billion in 2022.

Despite the heavy impacts of the COVID-19 pandemic, both countries gained a two-way trade turnover of $80.6 billion in 2021, much higher than the $500 million recorded 30 years ago, South Korean Consul General in Da Nang Ahn Min Sik said at a seminar last year.

Based on such a good outcome, the host and guest agreed to boost two-way trade to $100 billion this year and $150 billion seven years later, in a balanced and sustainable way, based on the effective implementation of the Vietnam – Korea Bilateral Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP).

PM Chinh asked the South Korean government to streamline the entry of Vietnamese agricultural and aquatic products, seafood, and seasonal fruits into the South Korean market.

He also proposed the two sides strengthen stable, long-term, and sustainable goods exchange, and strive to balance their trade because currently South Korea has a trade surplus. 

The Vietnamese government chief affirmed that Vietnam welcomes South Korean businesses to expand their investment in Vietnam, especially in science, technology, innovation, green economy, digital economy, digital transformation, clean energy, smart city, and ecological urbanism.

Vietnam always considers South Korea an important and long-term strategic partner for the common interests of the two countries and peoples and for stability and peace in the region and the world, PM Chinh told his guest.

A meeting between the two delegations of South Korea and Vietnam led by South Korean Speaker Kim Jin-pyo and Vietnamese Prime Minister Pham Minh Chinh, respectively, in Hanoi on January 17, 2023. Photo: Vietnam Government Portal

A meeting between the two delegations of South Korea and Vietnam led by South Korean Speaker Kim Jin-pyo and Vietnamese Prime Minister Pham Minh Chinh, respectively, in Hanoi on January 17, 2023. Photo: Vietnam Government Portal

The host congratulated South Korea on its achievements in national construction and development and extended his thanks to its state, National Assembly, and people for always giving valuable, practical, and effective support to Vietnam in the past time.

Speaker Kim praised Vietnam for continuing to have high and solid economic growth in difficult conditions and wished Vietnam to achieve its goal of becoming a developing country with modern industry and a high average income by 2030.

The guest thanked the Vietnamese government for always paying attention to the development of the South Korean business community in Vietnam.

He said that PM Chinh previously had two dialogues with South Korean businesses to listen to their opinions and remove obstacles facing them in Vietnam.

Kim wished that the Vietnamese government would support South Korea to host the 2030 World Expo (World Expo 2030) in Busan, continue to create favorable conditions for Korean enterprises to operate effectively in Vietnam and for South Korean citizens to travel, do business, and live in the Southeast Asian country.

He also proposed that Hanoi cooperate with Seoul in rare earth production, and support the expansion of South Korean educational institutions in Vietnam.

PM Chinh wished South Korea would continue to provide ODA for Vietnam, expand the admission of Vietnamese workers in nursing, information technology, healthcare, and soon implement the Social Insurance Agreement between Vietnam and South Korea, contributing to ensuring the rights of workers in each country.

Vietnam will create all favorable conditions for the South Korean community to live, study, and work stably in Vietnam, PM Chinh said, adding he hoped the South Korean government would continue to support and protect the legitimate interests of Vietnamese nationals who are living and doing business in South Korea.

The Vietnamese government chief suggested the two sides promote effective cooperation in all fields within the framework of their ‘Comprehensive Strategic Partnership’ announced in December last year, including South Korea’s assistance for Vietnam to improve the capability of its law enforcement at sea. 

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Vietnam and South Korea have agreed to promote two-way trade to US$100 billion within this year and $150 billion by 2030 in a more sustainable and balanced manner by making the best use of existing bilateral and multilateral trade deals.

The agreement was reached on Tuesday during the talks between Vietnamese Prime Minister Pham Minh Chinh and South Korean Speaker Kim Jin-pyo, who is on a visit to Vietnam at the invitation of Vietnam’s National Assembly Chairman Vuong Dinh Hue, the Vietnam Government Portal reported.

The two sides expressed their pleasure that the two countries’ relations have fruitfully developed in all fields after 30 years of establishing diplomatic relations.

In the context of rapid and complicated changes in the world and regional situation, including the impact of the COVID-19 pandemic, the relationship between the two countries continues to maintain a stable development momentum, and the mutual political trust has been continuously strengthened.

Currently, South Korea holds the number-one position in foreign direct investment in Vietnam with a total capital of US$80.5 billion, with about 8,000 enterprises doing business in the Southeast Asia nation.

The Northeast Asian country also ranks second in development, tourism, and labor cooperation, and third in terms of trade cooperation with Vietnam, with a trade value of $88 billion in 2022.

Despite the heavy impacts of the COVID-19 pandemic, both countries gained a two-way trade turnover of $80.6 billion in 2021, much higher than the $500 million recorded 30 years ago, South Korean Consul General in Da Nang Ahn Min Sik said at a seminar last year.

Based on such a good outcome, the host and guest agreed to boost two-way trade to $100 billion this year and $150 billion seven years later, in a balanced and sustainable way, based on the effective implementation of the Vietnam – Korea Bilateral Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP).

PM Chinh asked the South Korean government to streamline the entry of Vietnamese agricultural and aquatic products, seafood, and seasonal fruits into the South Korean market.

He also proposed the two sides strengthen stable, long-term, and sustainable goods exchange, and strive to balance their trade because currently South Korea has a trade surplus. 

The Vietnamese government chief affirmed that Vietnam welcomes South Korean businesses to expand their investment in Vietnam, especially in science, technology, innovation, green economy, digital economy, digital transformation, clean energy, smart city, and ecological urbanism.

Vietnam always considers South Korea an important and long-term strategic partner for the common interests of the two countries and peoples and for stability and peace in the region and the world, PM Chinh told his guest.

A meeting between the two delegations of South Korea and Vietnam led by South Korean Speaker Kim Jin-pyo and Vietnamese Prime Minister Pham Minh Chinh, respectively, in Hanoi on January 17, 2023. Photo: Vietnam Government Portal

A meeting between the two delegations of South Korea and Vietnam led by South Korean Speaker Kim Jin-pyo and Vietnamese Prime Minister Pham Minh Chinh, respectively, in Hanoi on January 17, 2023. Photo: Vietnam Government Portal

The host congratulated South Korea on its achievements in national construction and development and extended his thanks to its state, National Assembly, and people for always giving valuable, practical, and effective support to Vietnam in the past time.

Speaker Kim praised Vietnam for continuing to have high and solid economic growth in difficult conditions and wished Vietnam to achieve its goal of becoming a developing country with modern industry and a high average income by 2030.

The guest thanked the Vietnamese government for always paying attention to the development of the South Korean business community in Vietnam.

He said that PM Chinh previously had two dialogues with South Korean businesses to listen to their opinions and remove obstacles facing them in Vietnam.

Kim wished that the Vietnamese government would support South Korea to host the 2030 World Expo (World Expo 2030) in Busan, continue to create favorable conditions for Korean enterprises to operate effectively in Vietnam and for South Korean citizens to travel, do business, and live in the Southeast Asian country.

He also proposed that Hanoi cooperate with Seoul in rare earth production, and support the expansion of South Korean educational institutions in Vietnam.

PM Chinh wished South Korea would continue to provide ODA for Vietnam, expand the admission of Vietnamese workers in nursing, information technology, healthcare, and soon implement the Social Insurance Agreement between Vietnam and South Korea, contributing to ensuring the rights of workers in each country.

Vietnam will create all favorable conditions for the South Korean community to live, study, and work stably in Vietnam, PM Chinh said, adding he hoped the South Korean government would continue to support and protect the legitimate interests of Vietnamese nationals who are living and doing business in South Korea.

The Vietnamese government chief suggested the two sides promote effective cooperation in all fields within the framework of their ‘Comprehensive Strategic Partnership’ announced in December last year, including South Korea’s assistance for Vietnam to improve the capability of its law enforcement at sea. 

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/politics/20230119/vietnam-skorea-aim-to-boost-bilateral-trade-to-100bn-this-year/71047.html

Continue Reading

Politics

Vietnam’s Vice-President Vo Thi Anh Xuan named acting head of state

Published

on

Vietnam’s Vice-State President Vo Thi Anh Xuan was appointed Acting State President of Vietnam on Wednesday following the resignation of State President Nguyen Xuan Phuc, according to the Vietnamese legislature’s announcement.

Xuan will remain Acting State President until the lawmaking National Assembly (NA) elects a new head of state, NA Chairman Vuong Dinh Hue said in a notice he signed on behalf of the NA Standing Committee on Wednesday.

The notice was released under Resolution No. 83/2023/QH15 adopted at the 15th NA’s third extraordinary meeting on the same day, pursuant to the Constitution and the Law on the Organization of the NA.

Xuan’s appointment came after the Vietnamese Party Central Committee (PCC) on Tuesday agreed to let Phuc retire and quit the posts of a member of the Politburo and of the 13th PCC upon his request.

He also left the position as chairman of the Council of National Defense and Security.

A similar designation previously happened when State President Tran Dai Quang died of illness in September 2018 and then-Vice State President Dang Thi Ngoc Thinh served as interim president.

Xuan, born in 1970 in southern An Giang Province, is a member of the 12th and 13th PCC.

With a bachelor’s degree in chemistry pedagogy and a master’s in public governance, Xuan used to work as a high school teacher in An Giang, and then a research specialist of the provincial Party Committee Office.

From August 2001 to January 2013, she worked as vice-president and then president of the An Giang Province Women’s Union, deputy head of the Provincial Party Committee’s Mass Mobilization Department, and secretary of the Party Committee of An Giang’s Tan Chau Town.

In February 2013, she was deputy chairwoman of the An Giang administration and then deputy secretary of the provincial Party Committee.

She became Party Committee secretary of An Giang in October 2015 before being voted as Vice-State President in April 2021.

Nguyen Xuan Phuc, while holding the post of the prime minister in the 2016-21 tenure, made great efforts in leading Vietnam’s COVID-19 pandemic prevention and control, gaining many important achievements.

However, he must take the political responsibility as the government chief when many high-ranking officials, including two deputy prime ministers and three ministers, committed violations and wrongdoings, causing serious consequences. 

Aware of his responsibility before the Party and the people, he handed in his resignation, which was accepted by the PCC.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Vietnam’s Vice-State President Vo Thi Anh Xuan was appointed Acting State President of Vietnam on Wednesday following the resignation of State President Nguyen Xuan Phuc, according to the Vietnamese legislature’s announcement.

Xuan will remain Acting State President until the lawmaking National Assembly (NA) elects a new head of state, NA Chairman Vuong Dinh Hue said in a notice he signed on behalf of the NA Standing Committee on Wednesday.

The notice was released under Resolution No. 83/2023/QH15 adopted at the 15th NA’s third extraordinary meeting on the same day, pursuant to the Constitution and the Law on the Organization of the NA.

Xuan’s appointment came after the Vietnamese Party Central Committee (PCC) on Tuesday agreed to let Phuc retire and quit the posts of a member of the Politburo and of the 13th PCC upon his request.

He also left the position as chairman of the Council of National Defense and Security.

A similar designation previously happened when State President Tran Dai Quang died of illness in September 2018 and then-Vice State President Dang Thi Ngoc Thinh served as interim president.

Xuan, born in 1970 in southern An Giang Province, is a member of the 12th and 13th PCC.

With a bachelor’s degree in chemistry pedagogy and a master’s in public governance, Xuan used to work as a high school teacher in An Giang, and then a research specialist of the provincial Party Committee Office.

From August 2001 to January 2013, she worked as vice-president and then president of the An Giang Province Women’s Union, deputy head of the Provincial Party Committee’s Mass Mobilization Department, and secretary of the Party Committee of An Giang’s Tan Chau Town.

In February 2013, she was deputy chairwoman of the An Giang administration and then deputy secretary of the provincial Party Committee.

She became Party Committee secretary of An Giang in October 2015 before being voted as Vice-State President in April 2021.

Nguyen Xuan Phuc, while holding the post of the prime minister in the 2016-21 tenure, made great efforts in leading Vietnam’s COVID-19 pandemic prevention and control, gaining many important achievements.

However, he must take the political responsibility as the government chief when many high-ranking officials, including two deputy prime ministers and three ministers, committed violations and wrongdoings, causing serious consequences. 

Aware of his responsibility before the Party and the people, he handed in his resignation, which was accepted by the PCC.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/politics/20230119/vietnams-vicepresident-vo-thi-anh-xuan-named-acting-head-of-state/71046.html

Continue Reading

Trending