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VietNamNews

VN eyes more co-operation across Tonkin Gulf area

Update: July, 14/2012 - 09:15

HA NOI — Deputy Minister of Industry and Trade Nguyen Thanh Bien is joining more than 400 delegates from China and a number of ASEAN countries to discuss issues within the expanded Bac Bo (Tonkin) Gulf economic co-operation framework in Nanning in China's Guangxi province.

Addressing the opening of the seventh Pan-Beibu Gulf Economic Co-operation, Deputy Minister Bien affirmed Viet Nam wanted to further expand co-operation with China and other ASEAN member countries on the principles of equality, mutual interest, international law, territorial integrity and sovereign independence of participating countries.

Bien said together with more practical co-operation contents, the completion of existing diversified co-operation mechanisms in the region, inter-region and sub-region, including the expanded Bac Bo Gulf economic co-operation framework, would enhance infrastructural connectivity and facilitate the tapping of sea potential among regional economies.

The annual forum, themed "Economic Co-operation and Common Prosperity of Pan-Beibu Gulf", focuses on urban development, electronic information industry development and China-Malaysia industrial co-operation. They also discussed rebalancing the global economy and expanding Bac Bo Gulf regional co-operation and development.

The participants discussed the prospects of the global economy and the role of East Asia in its recovery, as well as the impacts of regional free trade agreements such as the East Asia Free Trade Area (EAFTA), the Comprehensive Economic Partnership for East ASIA (CEPEA), FTAs between China, the Republic of Korea and Japan, and the Trans-Pacific Partnership (TPP).

They also underlined the role of financial assistance mechanisms for economic connectivity and co-operation frameworks among countries.

Regarding urban development, the delegates touched upon the possibilities of increasing co-operation and linkages among cities along the Nanning-Singapore economic corridor in infrastructure development and modern industry.

On opportunities to bolster economic co-operation within the expanded Bac Bo Gulf framework, they proposed a mechanism to link enterprises and governments in the electronic information industry.

The delegates also showed a keen interest in economic co-operation under industrial zones between China and other ASEAN member countries like the China-Malaysia industrial zone.—VNS

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