Vietnam accompanies OECD to make contributions to the region
|Vietnam and Australia officially took over the role of co-chairs of SEARP for 2022-2025 tenure. (Source: VNA)|
This is also the first year the two sides implement the Memorandum of Understanding on enhancing cooperation during the 2022-2026 period, opening a new chapter to promote the relations between Vietnam and the OECD more effectively and substantively.
Founded in 1961, the OECD now has 38 members, mostly developed countries stretching from North and South America to Europe and the Asia-Pacific. The OECD's mission is to make policies that promote prosperity, equality, opportunity and happiness for all.
The OECD has become a forum where policymakers, experts and people discuss, exchange experiences, and give advice to set international standards to find solutions for a wide range of social, economic and environmental challenges.
Vietnam and the OECD have cooperated closely, substantively and effectively for many years. Officially becoming a member of the OECD Development Centre in 2008, Vietnam is also a member of the OECD’s working party on aid effectiveness. The two sides have developed and implemented bilateral plans for the 2012-2015 and 2016-2020 periods. In 2018, Vietnam co-chaired.
Two important events held jointly by Vietnam and the OECD in Hanoi were the OECD Southeast Asia Regional Forum in 2016 and the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific in 2019.
During the 2019-2020 period, Vietnam cooperated with the OECD to develop a report on the “Multi-dimensional assessment of Vietnam”. It was considered a sophisticated document that was valuable and useful for the building of the draft of the 10-year socio-economic development strategy (2021-2030) and the 5-year socio-economic development plan (2021-2025) in Vietnam.
The cooperation between Vietnam and the OECD and its member countries has been deepening. Vietnam has exploited experiences, policy advice and supports from the OECD and its members in realising the goals of international integration, transforming growth models, deeply participating in global value chains, expanding export markets and attracting investment and foreign resources for the country's socio-economic development.
On the occasion of Prime Minister Pham Minh Chinh's visit to France in November 2021, Vietnam and the OECD signed a Memorandum of Understanding on strengthening cooperation for the 2022-2026 period, creating a solid foundation for the two sides to continue to implement the agreements more effectively.
The OECD officially announced the SEARP in 2014 at the initiative of Japan, aiming to support the process of economic reform, boost sustainable and inclusive growth and promote the integration and connectivity of countries in Southeast Asia. An OECD member country and a non-member country will serve as the SEARP’s co-chairs.
At the 8th meeting of the SEARP Coordination Committee in December 2021, Vietnam and Australia were nominated to hold the position of SEARP co-chairs for the 2022-2025 tenure. The OECD’s invitation affirmed the organisation’s recognition of Vietnam's role and position in the region and its contributions to SEARP while expressing members’ belief that Vietnam can effectively connect the OECD with the region in areas of common interest.
Vietnam will chair the OECD-Southeast Asia Summit in Hanoi, as the co-chair of SEARP for the 2022-2025 tenure. Delegates and senior officials from 38 OECD member countries, Southeast Asian countries and international organisations, business associations and economic experts will attend the event. This is an opportunity for Vietnam to promote the OECD-Southeast Asia relationship, contributing to the region's economic recovery and development. The event hosted by Vietnam will also send a message about Vietnam's policy towards building an independent and self-reliant economy, associated with proactive and active international integration.