FEALAC members share experience in growth model

Forum for East Asia–Latin America Cooperation (FEALAC) countries need to exchange their experience in the transition growth model towards sustainable development and put forward initiatives and measures to foster cooperation between the forum’s member nations.
Forum for East Asia–Latin America Cooperation (FEALAC) countries need toexchange their experience in the transition growth model towardssustainable development and put forward initiatives and measures tofoster cooperation between the forum’s member nations.

The proposal was made by Minister of Foreign Affairs Pham Binh Minhduring an international seminar entitled “Experience of FEALAC Countriesin Transition Growth Model towards Sustainable Development” held inHanoi on June 6.

Addressing the seminar, Minhstressed East Asian and Latin American countries have maintained alevel of growth higher than the world average to become the highlight ofthe global economy.

This year, the two sides areexpected to account for 66 percent of world economic growth and willcontinue increasing their contribution in subsequent years.

He also put forward orientations for the transition growth modeltowards sustainable development and FEALAC countries’ furthercooperation.

Besides, the minister asked forparticipants’ evaluation of the global and East Asia–Latin Americaeconomies, as well as its impacts on FEALAC countries to specifypriority fields and issues in the process of shifting the growth model.

As a member of more than 60 internationalorganisations and a trusted and responsible partner of many multilateraland interregional mechanisms, Vietnam spares no effort to executewide-open foreign policies and enhance its global integration, DeputyMinister of Foreign Affairs Ha Kim Ngoc said.

Vietnam has attended all FEALAC activities, programmes andcooperation projects, which helps establish and perfect the structureand organisation of the forum.

The country also works closely with FEALAC members to strengthen connections and cooperation.

Ecuador’s Ambassador to Malaysia and Vietnam appreciated thecountry’s efforts in expanding its relations with Latin Americancountries, especially those in the Vietnam-Latin America Trade andInvestment Forum held in July 2012.

As a FEALACfounding member, Vietnam is a co-chair of the FEALAC Economy andSociety Working Group with Ecuador during the 2011-2013 period. Theconference took place on the threshold of the 6th FEALAC MinisterMeeting (FMM VI) scheduled for June 13-14 in Indonesia.

International delegates spoke highly of Vietnam’s experience inconducting the “Doi moi” (renewal) in the past 25 years and executing aneconomic restructuring in combination with growth model transformationin the meantime.

On June 7, delegates from FEALACmember countries will make a fact-finding tour to the northern provinceof Quang Ninh, one of the localities leading in implementing renewalpolicies and recording immense socio-economic gains.-VNA

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