PM: Globalization is inevitable process

History shows that globalization is an inevitable trend with or without our support, said PM Nguyen Xuan Phuc at the opening ceremony of the 23rd International Conference on the Future of Asia in Tokyo on Monday.

PM Nguyen Xuan Phuc delivers a keynote address at the 23rd International

Globalization is not only an economic process but also reflects human race’s desire for peace and for conquering challenges.As the largest continent in terms of area and population, Asia has become a major growth impetus of the globalized world, he said.

The rise of Asia is the rise of countries which are pursuing extensive international integration like Singapore, the Republic of Korea or China. Asia is taking the lead in cooperation and international integration with more than 150 free trade agreements (FTAs), accounting for 58% of the total number of FTAs on earth. However, the globalization process in Asia is now challenged by complicated developments of religious extremism, terrorism threats, missile tests on the Korean Peninsula, tensions in the East China Sea and East Viet Nam Sea, natural disasters and epidemics.

PM Nguyen Xuan Phuc answers questions related to international issues and Vietnam's policy  raised by participants at the International Coference on the Future of Asia. (Photo: VGP)

Against that backdrop, PM Phuc called for maintaining a peaceful and stable environment by building healthy and coherent bonds, enhancing trust and sincerity among countries in terms of security, politics, and economic development.

Asia needs to focus on addressing its internal differences and act responsibly on the basis of equality, mutual respect and compliance of international law. The continent should strengthen soft power through maintaining and promoting its diversity and uniqueness of cultural identities, including diligence, studiousness, and friendship among others. The Government chief suggested Asian economies enhance healthy linkages with diverse layers, including policy and infrastructure to facilitate movement of goods and labor. He also urged Asia to optimize resources and coordinate in promoting the role of international institutions like the World Trade Organization, World Bank, International Monetary Fund, Asian Development Bank and the Asian Infrastructure Investment Bank.

According to the Vietnamese PM, the guidelines, principles and regulations developed by the aforesaid institutions along with those developed by regional organizations like ASEAN and APEC have made significant contribution to peace, stability and development across the world in general and Asia in particular.

Source: VGP