In the framework of the 55th annual World Economic Forum (WEF) Davos meeting, Prime Minister Phạm Minh Chính attended and delivered remarks at the panel discussion “Towards UNCTAD 16 Ministerial Conference: The Future of Global Trade and Development in the Smart Era.” This event aimed to discuss global trade and investment trends and to set the agenda for the UNCTAD 16 Ministerial Conference hosted by Vietnam at the end of 2025.
Prime Minister Phạm Minh Chính delivering remarks at the global development panel
Discussion on Global Trade and Investment Trends
The panel, moderated by UNCTAD Secretary-General Rebeca Grynspan, featured high-level representatives from international organizations such as the WTO, OECD, IFAD, WIPO, and IRENA. Speakers shared their perspectives on the future of global trade, emphasizing the role of developing countries, which are expected to account for 70% of total trade value over the next five years.
UNCTAD Secretary-General Rebeca Grynspan expressed her admiration for Vietnam’s impressive 7% growth rate over the past three decades. She highlighted that hosting the UNCTAD 16 Ministerial Conference in Vietnam marks a significant milestone, reflecting the country’s dynamic development driven by its open and integrated policies.
Challenges and Opportunities in the Smart Era
Prime Minister Phạm Minh Chính noted that current challenges in global trade and development require a comprehensive and international collaborative approach. He emphasized four key aspects of the smart era: peace and cooperation (geopolitics, security), rapid and sustainable development (economy), sustainable resource exploitation (environment), and social progress and equity.
Vietnam is well-prepared for the new era with innovative thinking, creativity, and the strength of its people and businesses. The Prime Minister also acknowledged the crucial role of international organizations in supporting Vietnam’s development, particularly in agriculture and innovation.
Vietnam Hosts UNCTAD 16 Ministerial Conference
The Prime Minister affirmed Vietnam’s commitment to hosting the UNCTAD 16 Ministerial Conference, viewing it as an opportunity to welcome delegates from around the world. The conference venue will be linked to cultural heritage sites, allowing international friends not only to participate in the conference but also to explore Vietnam’s landmarks and understand its people and culture.
Delegates attending the event believe that with experience in organizing multilateral conferences, the UNCTAD 16 Ministerial Conference in Vietnam will create new impetus for global trade and development in the smart era.
Conclusion
The panel discussion at WEF Davos opened up opportunities for international cooperation and underscored Vietnam’s role in promoting global trade and development. With the spirit of “what we say, we do; what we commit, we fulfill,” Vietnam will continue to prove itself as a reliable partner in global initiatives.
