Vietnam is working towards a new stage of economic development byaccelerating its economic restructuring, and new growth modelshifting and improving its market economy.

Deputy Prime Minister Nguyen Xuan Phuc made the statement whileaddressing the World Economic Forum on East Asia 2015, which opened itsplenary session in Jakarta, Indonesia on April 20.

The Deputy PM added that Vietnam has also been making responsiblecontributions to the formation of the ASEAN Economic Community andcooperation mechanisms in the region while remaining actively involvedin negotiating many major free trade agreements.

According to the Deputy PM, East Asia has a number of opportunities forcooperation, but stability and development in the region facechallenges caused by climate change, strategic competition, territorialdisputes and security and safety of navigation and aviation.

He highlighted that sea disputes must be solved by peaceful measuresbased on international law, including t he United Nations Convention onthe Law of the Sea .

He continued affirmingthat Vietnam works with other countries and partners on the principlesof cooperation, honesty and mutual trust in order to build a peacefuland stable environment in the region.

Addressingthe event, Indonesian President Joko Widodo underscored the importanceof cooperation among East Asian countries for prosperity in the region.

The forum is an annual event held with the goalto increase and expand economic cooperation among countries in theregion and between East Asian countries with other regions in theworld.-VNA