OECD-Vietnam High-level Economic Forum: Partnerships for resilient and sustainable supply chains. Source: VNA

The Organisation for Economic Cooperation and Development (OECD) Southeast Asia Ministerial Forum 2022 took place in Hanoi on October 17 with the theme “Connecting Regions: Partnership for Resilient and Sustainable Supply Chains.”

The event was co-organised by the OECD, the Vietnamese Ministry of Foreign Affairs (MoFA), and the Australian Embassy in Vietnam, with the participants of Vietnam's Minister of Foreign Affairs Bui Thanh Son, assistant minister for trade and assistant minister for manufacturing of Australia Senator Tim Ayres, OECD general secretary Mathias Cormann, and 200 delegates and high-ranking officials from 38 OECD member countries, countries in the Southeast Asian region, international organisations, businesses and economic experts.

Minister Son emphasised that it was the initiative of Vietnam and Australia as the co-chairs of the OECD-run Southeast Asia Regional Programme, and the first important event of the programme in 2022-2025. They explored how OECD and ASEAN countries could improve supply chain resilience to better protect against future shocks and help build the foundations for a greener and digital future.

The forum provided an opportunity for ministers and high-level participants from OECD and ASEAN countries to discuss the practical measures ASEAN and OECD businesses and governments can take to improve supply chain resilience in the near term.

It also focuses on how OECD and ASEAN governments and businesses can collaborate to promote investment opportunities and improve economic resilience over the long run.

OECD secretary-general Mathias Cormann commended Vietnam’s co-chairmanship of the forum for the first time. "It reflects the confidence of OECD member countries and other nations in the region in Vietnam’s capacity in linking the OECD with the region," he said.

He also highlighted Vietnam’s active contributions in its capacity as the co-chair, as well as pledged to continue coordinating with Vietnam in promoting cooperation between the OECD and Southeast Asian nations and realising the OECD-ASEAN action plan.

Deputy Prime Minister Pham Binh Minh

Vietnamese Deputy Prime Minister Pham Binh Minh stressed the significance of Southeast Asia to the global economy, saying that with a population of 660 million, the region is expected to become the world's fourth-largest economy by 2030.

He called on the OECD countries to help Southeast Asia bring into full play its potential in the digital economy, high-tech agriculture, and innovation, and consider coordination in developing digital and farm produce supply chains.

He also suggested utilising the existing economic networks, especially the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and free trade agreements between Southeast Asia and the OECD.

“We hope that the OECD will help Vietnamese small-and medium-sized enterprises in accessing international capital markets, transferring technologies, improving administration capacity and competitiveness, developing key products and building strong brands,” he said.

The DPM suggested the two sides implement the OECD-ASEAN memorandum of understanding, particularly in priority areas like tax, trade facilitation, investment, digital transformation, and personnel training.

He stressed that maintaining a stable environment and ensuring the circulation of goods through international waters, including the East Sea, was essential to all countries involved.