Multilateral Institutions Vital in Formulating Global Policy for Green Investment and Trade

Deputy Prime Minister Tran Hong Ha underscored the important role of multilateral institutions in promoting the formulation of global policy in favor of green and sustainable investment and trade.

Deputy Prime Minister Tran Hong Ha (2nd from R) and Chinese Premier Li Qiang visit the Viet Nam national pavilion at the 6th China International Import Expo (CIIE) in Shanghai, China. 

The Deputy Prime Minister emphasized the point in his remarks on November 5 at Parallel Session on Driving Green Investment and Trade to Jointly Build Global Eco-Civilization, which forms part of the 6th China International Import Expo (CIIE) in Shanghai, China.

Multilateral institutions, as Tran said, include the World Trade Organization (WTO), the United Nations Conference on Trade and Development (UNCTAD), the United Nations Development Program (UNDP) and the United Nations Environment Program (UNEP).

Greening investment and trade must be an equitable process, in which development gap should be taken into account and developed countries need to provide financial, technological and human assistance for developing countries to catch up with global green standards, Tran said.

He called on interantional organizations to play a role in accelerating transfering green technologies from developed countries to developing countries.

Tran affirmed Viet Nam stands ready to work with developed countries to set up a role model for cooperation in green transition between developed and developing countries.

Source: VGP