Davos, (VNA) – Prime Minister Pham Minh Chinhattended a discussion on ASEAN as a main speaker in the fr🥃amework of the 54th Annual Meeting of the World Eco𓂃nomic Forum(WEF-54) in Davos, Switzerland, on January 17 (local time).

Other speakers at the event included Thai Prime Minister SretthaThavisin, Speaker of the Philippine Lower House Ferdinand Martin G. Romualdezand Director-General of the World Trade Organisation (WTO) Ngozi Okonjo-Iweala. Speakersat the discussion held that ASEAN has become a model in regional economicintegration, with each member striving to promote intra-bloc economiccooperation and exchange toward forming a common market and production base,while actively integrating in the global economic through a network of freetrade agreements with partners and the Regional Comprehensive Economic Partnership (RCEP) agreement. They said ASEAN membercountries have built firm trust among them, overcome economic, political andcultural differences to become a bloc cooperating for prosperity. The WTO Director Generalremarked that ASEAN has a friendly investment environment and thus is adestination beneficial to both investors and their partners. She describedVietnam as a typical destination with dynamic growth, which she said benefitsnot only one or several countries but also the world as a whole.  PM Chinhunderlined three important factors behind the development of ASEAN, which areunity in diversity, the resilience of the bloc as a whole and each membercountry, and inclusive development with the people as the subject, the centreand driver of development. Each country member contributes to ASEAN’sdevelopment and at the same time miximises their own potential, outstandingopportunities, competitive edges and capacity, while ensuring adherence tocompetition and demand-supply rule of the market, he said. Regarding new opportunities such as a shift in the supply chain, PMChinh said it is an inevitable trend based on the rule of competition andsupply-demand. He held that countries can only maintain sustainable developmentthrough choosing a win-win approach, respecting the choice of each country, andbuilding trust based on sincerity, solidarity and interest balance. He was of the view that the digital economy should be closelyassociated with green economy with reciprocal support and effect. The processof digital transformation should be conducted following a roadmap with stepssuitable with the capacity of each country, taking into account disadvantagedgroups, he said, laying emphasis on sustainable and rapid development withoutsacrificing equity and social security. The Vietnamese Government leader envisioned that in the nextfive to 10 years, ASEAN will be a united bloc and the growth epicenter of theworld where no one is left behind in economic development. The Thai PM said cheap labour cost may be a competitive factorat first but later it could become a challenge to ASEAN development. He calledon countries to raise the region’s minimum wage and enhance competitiveness toattract foreign investment. The speakers at the discussion spoke highly of Vietnam’s role inpromoting unity within ASEAN and joining hands with ASEAN members in handlingregional and global issues. They shared PM Chinh’s view on ways to optimise opportunitiesand handle challenges during the win-win integration process of ASEAN./.