The 20th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) are expected to provide Vietnamese firms with many investment and business opportunities. — Photo courtesy of investglobal.vn

BEIJING — Prime Minister Phạm Minh Chính’s two-day trip to China to attend the opening of the China-ASEAN Expo (CAEXPO) and the China-ASEAN Business and Investment Summit (CABIS) 2023 in Nanning City, Guangxi Province, carries practical meaning, according to Vietnamese Consul General in Nanning Đỗ Nam Trung.

In an interview granted to the Vietnam News Agency, the diplomat also underlined that this year’s events mark the 20-year journey of the CAEXPO and CABIS, an effective cooperation model between ASEAN and China that has brought practical benefits to businesses and peoples of ASEAN and China. This is also the first expo to be held in the in-person format after the COVID-19 pandemic.

The Vietnamese PM’s participation at the events demonstrates Việt Nam’s attaching of special importance to the mechanism in general and its 20th edition in particular, contributing to strengthening the substantial partnership between ASEAN and China, said Trung.

He highlighted the sound development of Việt Nam-China relations, noting that this year, the two countries are celebrating the 15th anniversary of their comprehensive strategic cooperative partnership, the highest level of relations between Việt Nam and a partner.

Following the official visit to China by Party General Secretary Nguyễn Phú Trọng in late October and early November 2022 and another to attend the 14th Annual Meeting of the New Champions of the World Economic Forum (WEF) by the Vietnamese PM in June, PM Chính’s participation in the CAEXPO reflects the common perceptions of high-ranking leaders of the two Parties and States on the strengthening of high-level exchanges and meetings for stronger political trust, and more effective and practical cooperation, thus continuing to promote and deepen the comprehensive strategic cooperative partnership between the two countries, stated the diplomat.

He said that the 20th CAEXPO is to take place in the context that ASEAN and China have continued to elevate their partnership, marking the 20-year bilateral strategic partnership. The Vietnamese PM’s participation at CAEXPO shows the proactiveness and activeness of Việt Nam in maintaining and strengthening regional cooperation, especially amid the negatively changing world situation.

Meanwhile, the trip also demonstrates the attaching of great attention to locality-to-locality cooperation between the two countries in general and between Vietnamese localities and Guangxi in particular, Trung said. As a gateway for China to ASEAN, especially to Việt Nam, Guangxi plays an important role in the partnership between the two countries.

Commenting on prospects and opportunities for Vietnamese firms through the CAEXPO 2023, Trung said that this year's event will cover 122,000 sq.m with 2,800 indoor booths and 10,000 sq.m outdoor exhibition areas. Along with exhibiting activities, this year, more than 100 trade and investment activities will be held.

CAEXPO 2023 is expected to provide Vietnamese firms with many investment and business opportunities, promoting economic-trade relations between Việt Nam and China as well as China and ASEAN member countries and partners outside the region. Trung noted that over the past 20 years, each edition of the expo has provided chances for Vietnamese firms to reach about 50,000 partners from China and ASEAN. In recent years, total trade and investment deals reached by Vietnamese firms at the event have amounted to about US$50 million.

This year, the Vietnamese booth will cover 3,500 sq.m, he said, holding that CAEXPO has been a favourite “playground” for Vietnamese firms, evidenced by their active and full participation in all activities of the event for many consecutive years with the highest number of enterprises and booths among the ASEAN member countries. — VNS