Future of Asia Conference in Japan: Finding the way in the face of challenges

Deputy Prime Minister Pham Binh Minh speaks at the Future of Asia Conference in Japan on May 26 – Photo: Nikkei Asia

On the morning of May 26, the 27th Future of Asia Conference (FOA 2022) opened in Tokyo (Japan) with the participation of many leaders. Standing Deputy Prime Minister Pham Binh Minh led the Vietnamese delegation to directly attend the conference.

The role of Asia

This year’s conference lasted 2 days, was held in the form of a combination of face-to-face and online. If last year’s FOA (online organization for the COVID-19 pandemic) had the theme “Shaping the Post-COVID-19 Era: Asia’s Role in the Global Recovery”, then this year’s theme is “Reincarnation”. shaping Asia’s role in a divided world”.

In addition to the leaders’ speeches, there were also discussion sessions such as: Changing the world from Asia – the future created by businesses; The US-China conflict and its effects on Asia’s order, security and economy; Developing Asian businesses through cultural exchange…

Speaking at the conference, Deputy Prime Minister Pham Binh Minh said that Asian countries play an important role in achieving global peace and stability. He stressed that Asia needs to strengthen its sense of responsibility in creating and maintaining a peaceful and stable environment for the development and prosperity of the region and the world. This is done on the basis of common ground of solidarity, cooperation, mutual understanding, trust and responsibility.

In the context of the rapidly changing world situation, Deputy Prime Minister Pham Binh Minh pointed out that Asia needs a common approach to address pressing global challenges. He said now is the time for countries to put aside their conflicts to unite and help each other. Malaysian Prime Minister Ismail Sabri Yaakob also said that Asia can play a leadership role in the divided world today.

According to Nikkei Asia magazine, Vietnam plays an important role in the global supply chain, although the pandemic has greatly affected companies with factories located in Vietnam last year. Deputy Prime Minister Pham Binh Minh pointed out that the promotion of mass COVID-19 vaccination is helping to ensure normal operation of production lines.

Proposed Solutions

At FOA 2022, Asian leaders mentioned a range of issues from the Russia-Ukraine conflict, the tense US-China relationship to the post-epidemic economic recovery. In their statements, they also proposed solutions to aim for a better future for Asia and the world.

Singapore Prime Minister Lee Hsien Loong warned there would be a “nuclear arms race” in Asia if countries prioritize national security over regional stability. Mr. Li also spoke of the “difficult relationship” between the US and China. “If the US-China relationship continues in this direction, it will lead to a separation of technology and supply chains or even worse undesirable consequences,” Li said.

To avoid conflict, Mr. Lee noted that even during the cold war there were channels of communication between the leaders of the United States and the Soviet Union. “Such channels of communication need to be built and established between the US and China and between other countries that have disputes with each other,” he said. In the context of rising US-China tensions, Mr. Lee said that there would be no good results if Asian countries were divided into two camps.

Meanwhile, Thai Prime Minister Prayuth Chan-ocha said that having an open and rules-based market is essential for the Asian economy. Countries in the region are working to recover from the pandemic and overcome supply chain disruptions. He emphasized the role of multilateral institutions. Malaysian Prime Minister Ismail Sabri Yaakob warned that supply chain problems caused by the impact of the war in Ukraine and US-China tensions are causing “negative contagion effects”.