Hanoi, (VNA) – The 15th East Asia Summit (EAS) tookplace virtually on November 14, during which leaders exchanged views onregional and international issues of shared concern, including the COVID-19pandemic and economic recovery.  

Vietnam’s Prime Minister Nguyen Xuan Phuc said the EAS hasbeen growing robustly, serving as a forum for strategic dialogue andcooperation in matters regarding peace, security and prosperity in the region.

The shared interest and need for cooperation have broughttogether 18 dynamic countries in the region, he said, adding that the EAS hasserved as a platform for the countries to work together in response to thethreats to security, stability and development in the region. 

Pointing to a range of challenges, PM Phuc highlighted theimportance of maintaining an environment of peace and stability.

As the Chair of ASEAN and the EAS this year, Vietnam iscommitted to joining other EAS countries in taking stronger actions toeffectively respond to emerging challenges and ensure stability andsustainability in the region, he pledged. 

In his remarks, Secretary General of the United NationsAntónio Guterres said East and Southeast Asia have set a strong example indealing with COVID-19. 

He called on the global community to tackle the presentchallenges with compassion and solidarity, to recover stronger and stay ontrack to achieve the Sustainable Development Goals. 

The United Nations, led by the World Health Organisation, hasbeen working to coordinate global efforts to develop and scale up theproduction of effective vaccines and therapeutics, he said. 

“These must be available and affordable for everyone,everywhere,” he stressed. “Nobody is safe until we are all safe.”

It is essential to invest in people, including through socialprotection, universal health care and quality education, according to the UNSecretary General. 

The response to the COVID-19 crisis must be aligned with theParis Agreement and the Sustainable Development Goals, he said, suggesting thecountries count on the support of the United Nations system.

“Together, we can use the response to COVID-19 to build aworld with less inequality, more inclusive and more sustainable,” he affirmed. 

World Bank Group President David Malpass said the impact ofthe pandemic and economic shutdown is the hardest on the poorest countries andthe poorest people within each country, adding to inequality.

The pandemic remains an enormous obstacle to development, anda successful COVID-19 vaccination programme will be key to recovery. 

The WB has approved an envelope of 12 billion USD for developingcountries to finance the purchase and distribution of COVID-19 vaccines, tests,and treatments for their citizens. 

The bank has worked hard with countries to provide technicaladvice on vaccine procurement and effective distribution.

According to the WB Group President, the debt burden isanother major obstacle to development, and the bank is working on effectiveapproaches for debt reduction and debt resolution. 

In the current crisis, East Asia is well positioned to be thefirst region to recover from it. However, countries will need to prepare for adifferent economy post COVID by allowing capital, labour, skills and innovationto move into new businesses and sectors.

 The bank is also working with countries to strengthentheir domestic capital markets. For example, Indonesia and Vietnam are part ofits joint capital market program (JCAP), where it supports governments in areasof pension reforms, strengthening capital market regulations and introducingnew capital market products. 

The World Bank Group is working hard to do as much as it canto help respond to the crisis and strengthen the recovery, he said./.