VietNamNet Bridge – Vietnamese Deputy Foreign Minister Le Luong Minh has urged Asia-Pacific nations to prevent protectionism and share experiences in avoiding the middle-income trap.

Speaking at the May 21 discussion of the 68th session of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), Deputy FM Minh said regional countries should promote consultancy and coordination in macroeconomic policies, especially financial policies to minimize the impact of financial and monetary instability.

In addition, he said, they should strengthen financial and trade cooperation and regional investment to take advantage of their dynamic development and reduce their dependence on foreign markets.

Asia-Pacific countries should also apply new growth models by associating economic development with social equality, environmental protection and other humanitarian values.

The diplomat highlighted the Vietnamese government’s efforts in boosting socio-economic development, ensuring macroeconomic stability, containing inflation and maintaining a suitable growth rate, saying that the country has given top priority to securing social equality and progress and spared no effort to achieve the Millennium Development Goals by 2015.

Minh also reaffirmed Vietnam’s policy of promoting international integration and supporting UNESCAP’s proposal for strengthening international cooperation and integration.

Vietnam is willing to work with other countries in the region for a common target, he noted.

Also at the session, Vietnam was elected member of the Centre for Agricultural and Engineering and Machinery.

VNN/VOV/VNA