HA NOI
— East Asian nations needed to continue
adjusting growth schemes to match the economic situation after the global
financial crisis 2008-09, heard the 2012 World Economic Forum (WEF) on East
Asia in Bangkok yesterday.
The
forum, themed "Shaping the Region's Future through Connectivity",
urged regional members to enhance their ability to cope with emerging
development challenges, especially in the implementation of effective financial
policies to control inflation, capital flow and price fluctuations.
It also
asked for the enhancement of co-ordination in policies and actions to limit the
consequences of unpredictable changes such as natural disasters and climate
change.
Meanwhile,
the 10-nation Association of Southeast Asian Nations (ASEAN) was asked to
continue the building of an economy which ensured food security, water and
energy, alongside shortening the development gap and completing the Millennium
Development Goals.
Addressing
the forum, Prime Minister Nguyen Tan Dung said that co-operation and regional
connectivity had been the main trend in East Asia with member countries the
main players, especially among ASEAN nations.
Dung
said that alongside the building of an ASEAN Community, ASEAN member countries
had actively co-operated with partner countries in and outside the region to
implement many co-operation programmes and initiatives, such as the Greater
Mekong Sub-region, ASEAN+1, ASEAN+3 and the East Asia Forum.
"Such
programmes and initiatives have contributed to boosting dialogues, mutual understanding
and co-operation among related countries while creating favourable conditions
and playing an important role in the region's development, as well as
strengthening the role of East Asia in the global economic structure," he
said.
"Our
achievements have created many opportunities for East Asian countries to deepen
regional co-operation and connectivity," he added.
The
Prime Minister also warned of the challenges and difficulties facing the
region.
"Global
economic restructuring is occurring in the context of falling production,
rising inflation, increasing public debts and fluctuating energy and food
prices," Dung said.
"This
has led to a need for suitable adjustments to co-operation schemes."
The
Vietnamese Prime Minister shared his thoughts on enhancing co-operation and
regional connectivity, such as promoting regional co-operation with ASEAN as
the key player and ensuring synchronousness in regional co-operation.
He also
stressed the importance on the enhancement of co-operation in the sustainable
and appropriate use and management of Mekong River water for the interests of
local residents and development of bordering countries, as well as in ensuring
a peaceful and stable environment for development, including peace, security
and free navigation in the East Sea.
The WEF
attracted more than 600 delegates including country leaders, international
intellectuals and business think tanks from 50 countries.
Threat of protectionism
While
the forum focused on the recommendations and solutions to enhance co-operation
and connectivity in East Asia as a way to boost growth and sustainable
development, the head of the World Trade Organisation warned against growing
Asian protectionism and said the region would not escape the impacts of
economic woes across the globe.
WTO
Director General Pascal Lamy acknowledged the region's relative resilience so
far to economic turbulence in the eurozone and continued uncertainty in the US
economic outlook.
He said
that it was increasingly "interconnected with the rest of the planet and I
don't think this relative immunity will be forever."
"I
would expect, given what is happening in other parts of the world economy, this
region to be more affected than it has been so far," he added.
Lamy
said the "biggest risk" was protectionism, because of Asia's position
as a major exporter to the rest of the world.
"The
main risk is protectionism, and you know that it remains a serious risk, a
growing risk," he said, adding that protectionist pressure had increased
over the last six months.
"But
more worryingly protectionist actions have intensified, and more and more
governments are ceding to this pressure," he said, urging ASEAN to step up
integration to insure against external shocks.
PM's meeting
At the
sideline of the WEF yesterday, Prime Minister Dung met with Thailand's Prime
Minister Yingluck Shinawatra.
He said
that Viet Nam would enhance co-operation with Thailand based on mutual
understanding and trust.
The two
prime ministers agreed to boost exchanges of high-ranking delegates, ministries
and localities. They also discussed the inter-cabinet meeting at the end of the
year.
At a
separate meeting with WEF President Klause Schwab, Dung confirmed Viet Nam's
commitment to issues discussed at the forum, especially those about regional
connectivity, a suitable growth model for East Asian countries and coping with
development challenges.
Dung
said that Viet Nam was implementing a socio-economic development strategy for
2011-20 with three breakthroughs in constitution, infrastructure and human
resources, together with economic restructuring and sustainable development.
He
expressed his wish that the annual WEF in future would focus more on topics
which were also Viet Nam's concerns.
VNS/AFP
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