Prime Minister proposes three solutions for ASEAN-China economic cooperation

Prime Minister Pham Minh Chinh assessed that, more than ever, Southeast Asia and China need to strengthen trade and investment cooperation.

At the opening ceremony of the 20th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS), Prime Minister Pham Minh Chinh assessed that ASEAN-China cooperation over the past 20 years has made great strides, surpassing anyone's imagination in terms of economic cooperation.

Bilateral trade increased from only 78.2 billion USD in 2003 to 975.6 billion USD by 2022, making China and ASEAN each other's largest trading partner and leading important investment partner. In the context of the slow recovery of the world and regional economy, the need to promote cooperation is increasing, "more than ever, ASEAN and China need to strengthen trade and investment cooperation".

Prime Minister Pham Minh Chinh speaks at the opening ceremony of the 20th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS). Photo: Nhat Bac

The Vietnamese Government leader proposed to strongly promote balanced and sustainable bilateral trade development, striving to make ASEAN China's first trade partner to exceed 1,000 billion USD. The parties must continue to open the market; fight protectionism; implement free trade commitments at the highest level such as in RCEP, CAFTA, coordinate to build a chain of links from raw material areas to production centers and product consumption systems of each country.

Vietnam hopes to continue working with China and ASEAN countries to quickly complete negotiations to upgrade version 3.0 of the ASEAN-China Free Trade Agreement; and upgrade road and railway infrastructure connectivity. The pilot smart border gate model also needs to be expanded to better meet the investment, business, trade, culture and tourism needs of the business community and people of each country.

In addition, according to him, the parties need to promote strategic connectivity for development, both hard and soft infrastructure, when the demand for infrastructure investment is still very large from ASEAN countries. The parties must promote high-quality, harmonious, mutually beneficial connectivity between the "belt and road", according to ASEAN's perspective on Indo-Pacific cooperation.

Prime Minister Pham Minh Chinh also proposed strengthening transport infrastructure connectivity, coordinating railways and roads; spreading and connecting more widely to ASEAN countries as well as through China to bring ASEAN goods to Europe, Central Asia...

Delegates attend the opening ceremony of the 20th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS). Photo: Nhat Bac

Finally, the Vietnamese Government leaders hope that China and ASEAN will strengthen people-to-people exchanges and cooperation in culture, tourism, and aviation, striving to restore tourism cooperation as before the Covid-19 pandemic; expand tourism by car and electric vehicles. Countries will cooperate in emerging fields, creating new growth drivers such as green economy, digital economy, circular economy, new materials, sharing economy, etc.

"The ASEAN and Chinese business communities should proactively learn, exploit, and help each other to make the most of opportunities from CAEXPO and CABIS, turning potential and cooperation opportunities into specific results and products," said Prime Minister Pham Minh Chinh.

Earlier, speaking at the Opening Ceremony, Chinese Premier Li Qiang affirmed that China and ASEAN have become the most successful and vibrant model in Asia-Pacific regional cooperation. The two sides have been each other's largest trade partners for three consecutive years, with cumulative two-way investment of more than 350 billion USD.

To promote cooperation in the coming time, Mr. Li Qiang suggested that China and ASEAN maintain regular dialogue and exchanges, enhance common awareness, narrow differences, expand cultural, tourism, training and youth cooperation to consolidate the foundation of people-to-people friendship; and further consolidate the foundation of sincerity and trust.

"China will persistently cooperate sincerely with ASEAN countries and is willing to implement cooperation agreements through practical actions; persistently open up and deepen opening up in terms of regulations, management, and standards; promote and protect fair competition; and create a safe and favorable investment and business environment," said the Chinese Prime Minister.

He also hopes that the two sides will further strengthen common interests, promote complementary economic advantages, cooperate for development on the principle of mutual benefit, further enhance the level of interest cohesion, and strengthen cooperation based on tolerance, perseverance, and solidarity.

At the invitation of the Chinese government, Prime Minister Pham Minh Chinh and the Vietnamese delegation went to Nanning to attend the China-ASEAN Fair and the China-ASEAN Trade and Investment Summit on September 16-17. At this fair, the Vietnamese trade pavilion is the largest in scale after the host country China, with the participation of 120 enterprises and 200 booths.

Vnexpress.net