AMM 50: ASEAN Plus Three to boost financial cooperation

NDO/VNA – Foreign ministers of ten ASEAN countries and three of its partners – Japan, China and the Republic of Korea (RoK) – have agreed to enhance financial cooperation in order to strengthen economic stability within the region. At the ASEAN Plus Three Foreign Ministers Meeting held in Manila, the Philippines, on August 7, Japanese FM Taro Kono affirmed that Tokyo is ready to work closely with the ASEAN members, China and the RoK to enhance the capacity of forecasting economic crisis, both regionally and internationally. He added that Japan will make further efforts to fight increasing trade protectionism. The foreign ministers shared their viewpoints on a free trade deal involving the ten ASEAN members and the three partners, along with Australia, New Zealand and India, in addition to discussing infrastructure and marine security in the region. The situation concerning the Korean Peninsula was high on the meeting’s agenda, with the Japanese Minister calling for collaboration to increase pressure on the Democratic People’s Republic of Korea to cease its missile and nuclear programmes, and to address the kidnapping of Japanese citizens in the past. The conference also discussed directions for their cooperation in the near future, compared viewpoints on regional and international issues, and looked into the preparations for the 20th ASEAN+3 Summit in November. A plan of action for 2018-2022 is scheduled to be approved at the conference. ... [read more]

NDO/VNA – Foreign ministers of ten ASEAN countries and three of its partners – Japan, China and the Republic of Korea (RoK) – have agreed to enhance financial cooperation in order to strengthen economic stability within the region. At the ASEAN Plus Three Foreign Ministers Meeting held in Manila, the Philippines, on August 7, Japanese FM Taro Kono affirmed that Tokyo is ready to work closely with the ASEAN members, China and the RoK to enhance the capacity of forecasting economic crisis, both regionally and internationally. He added that Japan will make further efforts to fight increasing trade protectionism. The foreign ministers shared their viewpoints on a free trade deal involving the ten ASEAN members and the three partners, along with Australia, New Zealand and India, in addition to discussing infrastructure and marine security in the region. The situation concerning the Korean Peninsula was high on the meeting’s agenda, with the Japanese Minister calling for collaboration to increase pressure on the Democratic People’s Republic of Korea to cease its missile and nuclear programmes, and to address the kidnapping of Japanese citizens in the past. The conference also discussed directions for their cooperation in the near future, compared viewpoints on regional and international issues, and looked into the preparations for the 20th ASEAN+3 Summit in November. A plan of action for 2018-2022 is scheduled to be approved at the conference. ... [read more]

The host country of Finland and ASEM member countries praised Vietnam’s active participation in ASEM 6, which significantly contributed to further raising Vietnam’s position in the international arena as well as at the ASEM forums, said Deputy Prime Minister and Foreign Minister Pham Gia Khiem. The sixth Asia-Europe Meeting (ASEM 6) Summit concluded in Helsinki, Finland, on September 11. On this occasion, Deputy Prime Minister and Foreign Minister Pham Gia Khiem briefed the Vietnamese media on the outcomes of ASEM 6 and Vietnam’s major contributions to the success of the event. Reporters: On the sidelines of ASEM 6, Prime Minister Nguyen Tan Dung paid working visits to the European Commission (EC) and Belgium. What is your assessment of the results of his visits?Mr Khiem: Before attending ASEM 6, PM Nguyen Tan Dung made successful working visits to the EC and Belgium. The EU spoke highly of Vietnam’s decision to select it as the first partner in bilateral visit exchange. The talks between PM Nguyen Tan Dung and EC President Barosso took place in the spirit of friendship, cooperation and mutual understanding with commitments to close cooperation in implementing a master plan on developing comprehensive relations with the EU, approved by the Vietnamese Government in June 2005. Mr Barosso said Vietnam is the EU’s leading partner in Asia and pledged to maintain an ODA funding of 160 million Euro for the country in the next four years. He agreed with Vietnam in the principle of possible negotiations for signing a new…... [read more]

Japan’s Finance Minister Jun Azumi said on May 29 that not using the dollar as an intermediate currency will help lower transaction costs and reduce settlement risks at financial institutions. The People’s Bank of China said that using the Yen and Yuan in bilateral trade will strengthen financial cooperation between China and Japan. With the new mode of trading, analysts say Chinese and Japanese companies will suffer from less foreign exchange risks. For China, this move marks a specific step toward realizing its ambition to internationalize the Yuan. Japanese companies will benefit by trading in the Yuan in other financial centers in London and Singapore where Yuan trading systems will soon be established. China is one of Japan’s largest trading partners, but about 60 percent of their mutual trade is denominated in US dollars. Bearing the brunt of the 2008 global economic crisis, slow development of the US economy and public debt crisis for which Japan and China’s exports were hard hit, the two countries realized the need to save costs in investment and reduce dependence on the US dollar. Last November, China and Japan signed a deal on direct exchange of their currencies which officially took effect on June 1 in Tokyo and Shanghai markets. The current shortcomings of the international financial system dependent on the US dollar trigger the need to restructure the system. The Yuan is considered to be the likely candidate to compete with the US dollar in international payment and reserves. Analysts forecast that in…... [read more]

The Climate Change in Coastal Ecosystems Programme (CCCEP) will be implemented in An Giang, Bac Lieu, Ca Mau, Kien Giang and Soc Trang provinces over five years. The Australian government will contribute US$24.3 million through the Australian Agency for International Development (AusAID) and the German government will provide around US$14.1 million in technical cooperation. The German KfW Bank has also committed to supply US$25.3 million in financial cooperation. AusAID Minister Counsellor Michael Wilson said that Vietnam is one of the countries that will be the most heavily affected by climate change. The Australian Government has helped Vietnam adapt to the changing climate and reduce carbon emissions. It will also cooperate with Germany and Vietnamese localities to deal with climate change in the Mekong Delta region and improve sustainable living conditions for local people. The CCCEP, which was created based on available results in Bac Lieu, Soc Trang and Kien Giang provinces, will outline practical solutions to environmental threats. The provinces will develop their own plans to adapt with climate change, including restoring mangrove forests, measures to protect coastal forests, introducing new farming methods and managing sea-dykes.... [read more]

Truong Thi Mai, head the Party Central Committee’s Commission for Mass Mobilisation (R), meets Deputy Speaker of Hungary’s National Assembly Gergely Gulyás (Photo: VNA) Hanoi (VNA) – A senior Party official has said the visit to Vietnam by Deputy Speaker of Hungary’s National Assembly Gergely Gulyás shows the Hungarian people’s sentiments towards their Vietnamese peers. At a reception for the Hungarian guest in Hanoi on January 16, Politburo member Truong Thi Mai, who heads the Party Central Committee’s Commission for Mass Mobilisation, thanked Hungary’s support to her country during its national protection and development and international integration. Vietnam wants to strengthen the traditional friendship and multi-faceted cooperation with Hungary, she said, speaking highly of the recently signed framework agreement on financial cooperation. Mai and her guest also discussed measures to foster relations between the two ruling parties - Communist Party of Vietnam and Fidesz – Hungarian Civic Alliance. She wished the Alliance victory at Hungary’s parliamentary election in early 2018. For his part, Gergely Gulyás valued Vietnam’s experience, prestige and stature in the region and the world. He briefed about the outcomes of his talks and meetings with Vietnamese leaders, adding that he handed over a draft agreement on cooperation between the Fidesz – Hungarian Civic Alliance and the Communist Party of Vietnam. He hopes this agreement will be signed soon to tighten links between the two sides. Despite a fast-changing world, Hungary has continually treasured and made efforts to enhance the time-tested amity and multi-faceted cooperation with Vietnam, he…... [read more]

This study tour was led by Vice Minister of Health Prof. Nguyen Thi Xuyen and dealt with the topic “IT for medical knowledge transfer – IT and Continuous Medical Education”. It was intended to gain knowledge from different institutions in Germany about how to plan, implement and manage such a Telemedicine Network. Subsequently, the 20 participants learned at the German Federal Ministry of Health (BMG) which steps a government needs to undertake in order to implement the network. They also got hands-on experience from Hospitals and private medical practices on how to make use of modern information technologies (IT) for treatment and knowledge transfer. The group of 20 participants was composed of experts from the MoH and from GIZ, hospital leaders from seven hospitals, including the Viet Duc Hospital in Hanoi, and managers from the provincial Departments of Health (DoH) in Yen Bai and Thanh Hoa provinces. In her closing remarks, Vice Minister Prof. Nguyen Thi Xuyen highlighted the considerable potential of telemedicine for treating patients in Vietnam and the valuable experience all participants of the study tour had made. The Vietnamese-German Development Cooperation’s Programme “Strengthening Provincial Health Systems” has supported Vietnamese partners since 2009 and is commissioned and funded by the German Federal Ministry for Economic Cooperation and Development (BMZ). On behalf of BMZ, the programme is carried out by GIZ. During its implementation period from 2009 to 2017, the programme aims at strengthening the capacity of provincial DoHs and decentralised health facilities in cost efficient health management and…... [read more]

Mr Dung expressed his elation at the fruitful development of the Vietnam-US relations and welcomed the US support for Vietnam’s accession to the World Trade Organisation. He said he hopes that the Secretary’s visit to Vietnam will help boost the mutually beneficial cooperative ties between the two countries, including cooperation between the US Treasury and the Vietnamese Ministry of Finance. The Vietnamese PM also expressed his wish that Mr Paulson, in his capacity as the Secretary of the US Treasury, will support an early approval of the permanent normal trade relations (PNTR) bill with Vietnam by the US Congress. Secretary Paulson said he will do his utmost to promote the process and hoped financial cooperation between the two countries will further develop in the near future. Secretary Henry Paulson has been in Hanoi for the 13th APEC Finance Ministers’ Meeting from September 7-8.... [read more]

There has been regular exchanges of high-level delegations such as Vietnamese Prime Minister Phan Van Khai and Party General Secretary Nong Duc Manh’s visits to Germany in 2001 and 2004, respectively, and German President Horst Koehler’s visit to Vietnam. Germany is Vietnam’s biggest European Union partner, with two-way trade reaching more than US$3 billion in 2007. German investment in Vietnam remains modest compared with the investment potential of the two countries. Germany has so far had 98 investment projects worth US$545.9 million focusing mainly on industry and services in Vietnam. To create a legal framework for bilateral economic ties, Vietnam and Germany have signed a double taxation avoidance agreement, an investment protection and encouragement agreement, and agreements on marine and aviation cooperation. Vietnam ranks third in Asia, after China and India, in receiving Germany ’s cooperation development aid. Since Germany re-established its cooperation development ties with Vietnam in 1990, the German Ministry for Economic Cooperation and Development (BMZ) has provided almost EUR 572 million in aid to Vietnam. Germany ranks third, after Japan and France, in the list of Vietnam’s donors. At governmental negotiations in 2006, Germany pledged a provision of EUR91.5 million for Vietnam in 2006 and 2007, including EUR 22 million in technical assistance and EUR69.5 million in financial cooperation. To raise the efficiency of bilateral cooperation, Vietnam and Germany reached an agreement in 2000 with a focus on three key areas. The first is assisting reform policies, including promoting the private economic sector and vocational training. The…... [read more]

Nguyen Vu Tung, Deputy Director of the Institute for Strategic Research and External Relations Policy under the Diplomatic Academy of Vietnam is present at the conference. The delegates discussed financial cooperation to make East Asian economies stronger, the future of the US dollar in Asia, democracy, the free market and ethnic conflicts. The conference is an important forum for them to examine the changes in international trade in ASEAN and East Asia, initiatives such as the One Vision Asia Pacific proposed by Australian Prime Minister Kevin Rudd and the idea of establishing an East Asia Community put forward by Japanese Prime Minister Yukio Hatoyama. In his speech, Malaysian Crown Prince Raja Azrin said that East Asian nations need to promote socio-political ties, otherwise they will fail to help this region to make achievements in the future.... [read more]




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