Multilateralism key to addressing global challenges: PM

Promoting international solidarity and upholding multilateral cooperation are crucial elements to addressing global challenges, said Prime Minister Pham Minh Chinh at the first session of the expanded G7 Summit held today [May 20] in Japan.

Leaders at the G7 Hiroshima Summit 2023. Photos: Nhat Bac

Chinh emphasized the need for unprecedented action in the face of the current global circumstances, advocating for a comprehensive and inclusive approach that involves all nations.

He underscored the importance of multilateralism, focusing on promoting and establishing new drivers for economic recovery and global development that align with greener, cleaner, and sustainable practices.

The Vietnamese prime minister put forth proposals to enhance the effectiveness of global economic governance, emphasizing the importance of policy coordination, particularly regarding interest rates, finance-currency, trade, and investment. Furthermore, he highlighted the need for reforming the multilateral trading system, with a central role assigned to the World Trade Organization (WTO).

Regarding the G7 initiative on the Partnership for Global Infrastructure and Investment (PGII), Chinh expressed appreciation and recommended that the bloc continue supporting developing nations through initiatives such as providing green finance. He also proposed cooperation in developing strategic transportation infrastructure systems, emphasizing its significance for sustainable growth.

The leader of Vietnam's government conveyed a message emphasizing the importance of promoting a substantive and effective global partnership, emphasizing international solidarity and persistent multilateral cooperation as the fundamental keys to addressing complex challenges.

He highlighted the need to prioritize the people as the central focus, the driving force, and the key elements in development—being both the subjects and resources for achieving developmental goals.

In line with this perspective, Chinh expressed Vietnam's high regard for the Hiroshima Action Statement for Resilient Global Food Security while proposing that the G7 and its partners intensify efforts to open agricultural markets, foster green agricultural cooperation, and actively participate in and support the implementation of South-South and trilateral cooperation mechanisms in ensuring global food security.

The Prime Minister reiterated Vietnam's readiness to enhance food production as a contribution towards realizing the objectives of the Hiroshima Action Statement.

In addition, Chinh emphasized that the determination and global-scale actions taken to achieve the Sustainable Development Goals (SDGs) are now more crucial than ever.

Prime Minister Pham Minh Chinh at the session.

With the objective of ensuring inclusivity and not leaving anyone behind, Chinh urged the G7 countries and development partners to establish a concrete action plan and strengthen their support for the implementation of the Sustainable Development Goals (SDGs), including addressing the digital divide, acquiring cutting-edge technologies, guaranteeing transboundary water security, promoting gender equality, and establishing effective mechanisms to respond to future health emergencies.

Taking this opportunity, Chinh expressed Vietnam's appreciation for the practical and timely assistance provided by the G7 countries and the international community in the battle against the Covid-19 pandemic and in post-pandemic economic recovery and development efforts.

HE reiterated Vietnam's commitment to being an active, engaged, and responsible member of the international community. "Vietnam actively contributes to collective global endeavors to resolve shared challenges for sustainable development, ensuring the well-being and prosperity of humanity."

During the meeting, the leaders engaged in discussions to respond to unprecedented and increasingly frequent crises across various domains such as food, health, economy, and development.

The G7 leaders and delegates dedicated their discussions to exploring measures for strengthening cooperation and promoting economic recovery and sustainable development.

The conversations underscored that the world is currently confronted with numerous challenges arising from interconnected crises. These challenges include the risk of high debt in many poor and developing countries, widening development disparities, and escalating inequality. The importance of placing development at the core was emphasized, along with initiatives to mobilize resources and promote public-private cooperation in infrastructure development.

The leaders shared their perspectives and proposed solutions to generate new momentum for the 2030 Agenda for Sustainable Development. Key focus areas included mobilizing resources from the private sector, enhancing financial resources for development, reforming the global financial system, ensuring transparency in debt management, and sustaining collaboration in health and gender equality.

Furthermore, the session endorsed the vigorous implementation of the Hiroshima Action Statement for Resilient Global Food Security.

The expanded G7 Summit serves as a significant international platform where leaders from seven industrialized and developed nations, alongside esteemed international organizations and countries, convene to foster cooperation on global matters.

Vietnam's participation in the G7 Summit for the third time within the past seven years highlights the positive recognition and appraisal bestowed upon Vietnam by the G7 countries and the international community. It reflects Vietnam's esteemed position and reputation and the nation's proactive, accountable, and constructive endeavors in contributing to international cooperation and addressing global challenges in recent times.