(VOVWORLD) - Vietnamese Finance Minister Ho Duc Phoc met bilaterally with Treasurer of Australia Jim Chalmers, Japanese State Minister of Finance Katsuo Yakura, and Singaporean Second Minister for Finance Indranee Rajah on Sunday, on the occasion of their attendance at the 2023 APEC Finance Ministers’ Meeting in San Francisco.
 Vietnamese Minister of Finance Ho Duc Phoc and Australian Treasurer Jim Chalmers hold a working session on the sidelines of the the APEC Finance Ministers’ Meeting 2023 in San Francisco, USA, on November 12. |
At the meeting with Jim Chalmers, Treasurer of Australia, the two sides discussed Australia’s Southeast Asia Economic Strategy to 2040, and bilateral cooperation on climate change and sustainable finance. They also worked on measures to promote a memorandum of understanding on financial cooperation between the Ministry of Finance of Vietnam and the Treasury of Australia.
Phoc expressed his hope that both sides will continue strengthening collaboration in financial areas related to climate change, energy transition, carbon markets, and green bonds in the near future.
Both pledged to further consolidate bilateral ties to improve capacity and share experience in financial and budget management, including taxation, customs, securities and capital markets, through the signing of an MoU for the new period.
 Vietnamese Finance Minister Ho Duc Phoc shakes hands with Japanese State Minister of Finance Katsuo Yakura ahead of their meeting on the sidelines of the APEC Finance Ministers Meeting 2023 in San Francisco, USA, on November 12., |
Meeting with Japanese State Minister of Finance Katsuo Yakura, Minister Ho Duc Phoc affirmed that the extensive strategic partnership between Vietnam and Japan has been developing substantially in recent times. He proposed that the Japanese Government support the implementation of the new generation ODA program, with a primary focus on three key areas of transport infrastructure, agriculture, and health.
The two officials agreed that the Ministry of Finance of Vietnam and the Ministry of Finance of Japan have increased cooperation in the fields of taxation, customs, securities, insurance, and aid provision. The annual bilateral dialogue between the two ministries, launched in 2021, has achieved good results. The two sides pledged to further support each other at multilateral and regional cooperation forums.
At the meeting with Indranee Rajah, Singapore’s Minister for Finance, the two sides highly appreciated bilateral cooperation between the two economies, in which financial cooperation is a major pillar, focusing on customs modernization, e-customs, and stock market management.
They shared the view that Vietnam and Singapore are both active members in regional financial cooperation mechanisms such as ASEAN and ASEAN+3. The two countries’ leaders also coordinate closely in working committees and working groups regarding cooperation in taxation, customs, insurance, financial service liberalization, and capital market development. They also coordinate in ASEAN+3 cooperation initiatives such as the Chiang Mai Initiative Multilateralization (CMIM); Asian bond markets initiative (ABMI); and ASEAN+3 Macroeconomic Research Office (AMRO), along with other new initiatives.
The two sides pledged to promote the implementation of free trade agreements between ASEAN and its partners, facilitate trade and investment, and actively participate in the global supply chain.