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ASEAN+3 coordinates to promote economic, trade and investment exchanges

10:19 - 02/10/2023

In 2022, trade between ASEAN and +3 Partners increased by 10.2 per cent to US$1,213 billion, while FDI from +3 Partners to ASEAN reached US$54.8 billion, accounting for 24.5 per cent of total FDI into ASEAN.

Information at the 3th ASEAN+26 Summit (with China, Japan, South Korea), ASEAN+3 leaders agreed to coordinate the effective implementation of the ASEAN+3 Cooperation Plan for the period 2023-2027, including promoting the strengths of cooperation in economy, trade and finance, Health... and expand new areas of cooperation, focusing on innovation, ensuring food security, energy transition, and climate change,... towards inclusive and sustainable development. At the same time, it reaffirmed the importance of ASEAN+3 cooperation for peace, stability, cooperation and development.

Prime Minister Pham Minh Chinh expressed his hope that ASEAN+3 will play an active and effective role in proposing feasible solutions, together overcoming current difficulties and challenges.

Prime Minister Pham Minh Chinh and leaders attend the ASEAN+3 Summit (with China, Japan, South Korea)

The Prime Minister emphasized that ASEAN+3 needs to coordinate to promote economic, trade, investment and multilateral linkages, including coordinating the effective implementation of ASEAN+1 FTAs with each partner from China, Japan and Korea as well as the RCEP Agreement.

ASEAN+3 needs to expand areas of cooperation, especially digital transformation, digital economy, e-commerce, fintech, AI, green finance, green technology, etc. create more impetus for inclusive growth, towards sustainable development, bringing practical benefits to people. At the same time, it is necessary to coordinate to ensure food security in each country and the whole region in all situations - the Prime Minister suggested and affirmed: "Vietnam is ready to coordinate to promote the Mekong-Lancang, Mekong-Japan and Mekong-Korea cooperation frameworks, effectively contributing to the sustainable development of the Mekong sub-region."

In addition, all partners affirmed that ASEAN is a central force in the region, committed to supporting Community building, contributing responsibly and effectively to dialogue and cooperation and efforts to build an open, transparent and inclusive regional architecture, based on international law.

Prime Minister Pham Minh Chinh and ASEAN leaders asked partners to support ASEAN's common position on the East Sea, fully and effectively implement the DOC Declaration and soon achieve an effective, substantive Code of Conduct in accordance with international law and UNCLOS 1982, towards building the East Sea into a sea of peace, stability, cooperation and development.

The Partners affirmed their support for ASEAN's role, efforts and stance, committing to closely coordinate to promote peace, security, stability and development in the region.

In the face of challenges in the region, Prime Minister Pham Minh Chinh asked partners to support strengthening dialogue, cooperation and confidence building, resolving disputes by peaceful means, upholding international law with a sense of responsibility and respecting each other's legitimate interests.