Deepening collaboration between ASEAN and China: Deputy Prime Minister details three steps toward mutual wealth
Deputy Prime Minister Mai Van Chinh of Vietnam delivered a speech at the opening ceremony of the 22nd China-ASEAN Expo (CAEXPO) and the China-ASEAN Business and Investment Summit (CABIS) in Nanning, Guangxi, China.
China remains a leading foreign investor in many ASEAN member states, including Vietnam. In fact, Vietnam is currently China's fourth-largest trading partner, and Chinese Foreign Direct Investment (FDI) in Vietnam has surged in recent years, ranking first in terms of new project numbers.
At the event, Deputy PM Chinh emphasised the importance of enhancing strategic connectivity, particularly in rail and road infrastructure, to facilitate intra-regional trade and extend ASEAN's and China's reach to Central Asia and Europe. Vietnam is accelerating the construction of railway and highway links with China, Laos, and Cambodia to complete a multimodal transport network connecting ASEAN with China and the Eurasian continent.
Strategic connectivity projects are being accelerated between Vietnam and China, paving the way for smoother trade flows and people-to-people exchanges. The Deputy Prime Minister also highlighted the need for promoting science and technology cooperation, focusing on the digital economy, green economy, science and technology, and innovation.
Vietnam is one of the largest participants in the CAEXPO, showcasing nearly 200 booths of high-quality products in sectors with strong complementarities with China and ASEAN markets. Over its 21 editions, CAEXPO and CABIS have made significant contributions to economic, trade, and investment cooperation between China and ASEAN.
The events are taking place as ASEAN and China prepare to formally sign the Protocol to Upgrade the China-ASEAN Free Trade Area (ACFTA) 3.0 later this year. Deputy PM Chinh proposed further market opening and trade facilitation, suggesting the expediting of ACFTA 3.0 signing and ratification.
ASEAN-China trade cooperation has grown impressively over the past three decades. China has been ASEAN's largest trading partner since 2009, and ASEAN has been China's largest trading partner since 2020. The Deputy Prime Minister called for joint efforts to build a peaceful, stable, and business-friendly environment.
The 22nd CAEXPO runs from September 17 to 21, bringing together more than 3,200 businesses from 60 countries, with one-third of the space reserved for international pavilions. The exhibition covers over 160,000sq.m, with the theme: 'Digital intelligence drives development - Innovation shapes the future - Seizing new opportunities from ACFTA 3.0 to build a community with a shared future.'
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