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Vietnamese PM attends ASEAN+3 Summit in Bangkok

Update: November, 04/2019 - 19:00

 

Prime Minister Nguyễn Xuân Phúc (5th from left) and leaders of other ASEAN member countries and China, Japan and the Republic of Korea at the summit. — VNA/VNS Photo Thống Nhất 

BANGKOK — Vietnamese Prime Minister Nguyễn Xuân Phúc attended the 22nd ASEAN Plus Three (China, Japan and the Republic of Korea) Summit in Bangkok, Thailand, on Monday as part of the ongoing 35th ASEAN Summit and related summits.

Addressing the event, PM Phúc highlighted the significance of the ASEAN Plus Three mechanism, describing it as the most dynamic co-operation framework between ASEAN and its partners and an important driver for global and regional economic growth.

He said amidst the complicated regional and global situation, ASEAN Plus Three countries are facing many challenges, requiring them to maintain and foster multilateral co-operation, trade facilitation and connection, while enhancing their resilience against impacts from the outside.

The Vietnamese PM proposed strengthening economic-financial partnerships and enhancing the efficiency and readiness of the Chiang Mai Initiative Multilateralisation (CMIM) agreement on crisis prevention.

He said it was important to improve the capacity of the Macroeconomic Research Office (AMRO) in giving policy recommendations, underlining the need to consider developing green bonds and sustainable bonds, and increasing the use of government bonds.

The Vietnamese leader said connectivity is crucial in sustainable development, therefore, it is necessary to improve infrastructure connectivity, digital connection and digital economic development, e-commerce, and smart city building.

PM Phúc also underscored the significance of people connections, in which Việt Nam is working hard to increase understanding among people from all walks of life in the region.

At the event, the leaders noted the importance of the ASEAN Plus Three to peace, stability and prosperity in the region based on the principles of mutual trust, respect and sharing of common benefits.

The ASEAN Plus Three countries, with 2.2 billion people and a quarter of global GDP, are co-operating in 22 areas and within 65 mechanisms.

The leaders expressed their pleasure at ASEAN Plus Three collaboration outcomes, especially in implementing the action plan for 2018-22.

Trade revenue between ASEAN and the three partners exceeded US$869 billion in 2018, accounting for 31 per cent of the bloc’s total trade in the year, and representing a year-on-year rise of 6.8 per cent, they noted.

They agreed on the need to continue strengthening co-operation to make more contributions to global economic growth.

They agreed to support the open, transparent, inclusive and law-based multilateral system as well as efforts to conclude negotiations for the Regional Comprehensive Economic Partnership (RCEP), while strengthening affiliation in various areas.

At the end of the meeting, the leaders adopted a ASEAN Plus Three Leaders’ Statement on Connecting the Connectivities Initiative, and agreed to build a website for the grouping. — VNS

 

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