The teleconference on circular economy, economic diversification, and aid for trade took place as part of the aid-for-trade work program for 2020 - 2022 of the WTO Committee on Trade and Development.

Speakers included representatives of some international organizations like the WTO, the UN Industrial Development Organization (UNIDO), the Organization for Economic Cooperation and Development (OECD), the Asian Development Bank (ADB), and the Royal Institute of International Affairs of the UK (Chatham House).

Ambassador Le Thi Tuyet Mai, Permanent Representative of Vietnam to the United Nations, the WTO, and other international organizations in Geneva

Presenting Vietnam’s viewpoint and experience, Ambassador Mai, Permanent Representative of Vietnam to the United Nations, the WTO, and other international organizations in Geneva, said in its socio-economic development strategy for 2021 - 2030, Vietnam identified building a circular economy model as one of the orientations and solutions for fast and sustainable development.

Some policies and mechanisms promoting factors of a circular economy have been included in the country’s guidelines, policies, and laws about environmental protection and the national action plan to implement the 2030 Agenda for Sustainable Development.

In particular, they have been institutionalized in the Law on Environmental Protection, the national green growth strategy, and the national action plan on sustainable production and consumption, she went on.

She emphasized that since the Doi moi (Renewal) period began in 1986, Vietnam has continually paid attention to the combination of economic development with environmental protection, sustainable use of natural resources and production materials, and realization of the Sustainable Development Goals (SDGs).

These policies have proved effective, as seen in many enterprises succeeding in applying clean production models, she said.

Mai also pointed out major challenges to Vietnam during the transition from the traditional economy to a circular one, adding that the country wishes to learn from developed countries’ experience in how to operate a circular economy and develop sustainably.

Stepping up international economic integration via commitments under the WTO and recently inked trade agreements will help Vietnam promote the building of a circular economy, achieve the SDGs, and bring about benefits to its people, the ambassador said.

Source: VNA