Prime Minister attends ASEAN Summit with China and South Korea

Upgrading the ASEAN-China Free Trade Agreement

At the 27th ASEAN-China Summit, the leaders of the countries highly appreciated the positive and continuous progress in ASEAN-China relations, especially since the two sides established the Comprehensive Strategic Partnership in 2021. China has been ASEAN's largest trading partner for 15 consecutive years, with two-way trade turnover in 2023 reaching nearly 700 billion USD, and is the third largest FDI investor in ASEAN with a total capital of 3 billion USD. 

The 27th ASEAN-China Summit. Photo: Duong Giang-VNA

The leaders welcomed the fact that ASEAN and China have basically completed negotiations to upgrade the ASEAN-China Free Trade Agreement (ACFTA) to version 3.0, creating conditions to enhance economic, trade and investment cooperation and consolidate the regional supply chain. The leaders also emphasized the need to expand cooperation in science and technology, innovation, digital transformation, Agriculture smart, energy, climate change response, disaster management...

Prime minister China Li Qiang affirmed that it will continue to prioritize development and strengthen close connectivity between regional economies, effectively implement ACFTA and the Partnership Agreement. Economy Regional Comprehensive Economic Partnership (RCEP), promoting multimodal transport and transport connectivity projects to increase trade, services, Travel and people-to-people exchanges, bringing practical benefits to countries, and actively contributing to prosperity and development in the region and the world. world.

The Chinese Prime Minister also affirmed that he will continue to provide more scholarships for ASEAN students, promote people-to-people exchanges, enhance understanding and trust, and lay an important foundation for the relationship to continue to develop sustainably.

Regarding the East Sea, ASEAN and Chinese leaders both affirmed the importance of ensuring peace, security and stability in the East Sea, peacefully resolving disputes, calling for full implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) and stepping up efforts to soon reach a Code of Conduct in the East Sea (COC), turning the East Sea into a sea of ​​peace, friendship and cooperation.

Speaking at the conference, Prime Minister Goverment Pham Minh Chinh Welcoming the substantial, effective, and extensive development of ASEAN-China relations, bringing positive benefits to all parties, and emphasizing that ASEAN and China are increasingly affirming their roles as important driving forces, dynamic development centers, leading growth and development in the region and the world. 

Prime Minister Pham Minh Chinh speaks at the 27th ASEAN-China Summit. Photo: Duong Giang/VNA

Orienting the future of relations, the Prime Minister suggested that ASEAN and China need to enhance self-reliance, promote close, comprehensive and inclusive ties and connections more than ever, thereby promoting strategic connections, especially strategic infrastructure, transport infrastructure, promoting new growth drivers, smooth trade connections, closer connections with the "Belt and Road" Initiative, accelerating the progress of market opening, upgrading border gate infrastructure, especially soft connections on smart customs, while making good use of scientific and technological achievements, promoting cooperation in developing digital economy and green economy. 

Appreciating the ASEAN-China People-to-People Exchange Year 2024 with many meaningful activities, helping people on both sides understand each other better, share more, become closer, trust each other more and travel more, the Prime Minister suggested that it is necessary to continue to promote further activities of connection and people-to-people exchange, contributing to consolidating a solid social foundation, constantly cultivating neighborly friendship, cooperation and developing the ASEAN-China Comprehensive Strategic Partnership.

Emphasizing the need to promote a vision of peace and security, shoulder shared responsibility for peace, and preserve a peaceful environment for cooperation and development, the Prime Minister hoped that ASEAN and China would connect their positions and viewpoints, further consolidate and enhance political trust, closely coordinate, make active and responsible contributions to peace, security and stability, enhance dialogue, peacefully resolve disputes in the region, including the East Sea, turn the East Sea into a sea of ​​peace, stability, cooperation and long-term sustainable development, and soon conclude negotiations on a substantive and effective COC in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea.

 At the end of the conference, ASEAN and Chinese leaders adopted joint statements on deepening people-to-people exchanges and cooperation, basically completing negotiations on upgrading the ACFTA, developing smart agriculture, promoting the building of a sustainable and inclusive digital ecosystem, and combating online fraud and online gambling.

 Vietnam plays a good role in coordinating ASEAN-Korea relations

The 25th ASEAN-ROK Summit unanimously adopted the Joint Statement on the Establishment of the ASEAN-ROK Comprehensive Strategic Partnership, marking a new milestone in the 35th anniversary of the establishment of relations (1989-2024). The leaders emphasized that the establishment of the Comprehensive Strategic Partnership reflects the high level of closeness and cohesion of the relationship as well as the positive results of the extensive cooperation between ASEAN and the ROK. 

The 25th ASEAN-Republic of Korea Summit. Photo: Duong Giang/VNA

Korea is currently ASEAN's fifth largest trading partner, with two-way trade reaching 5 billion USD and is the sixth largest FDI investor in ASEAN reaching 196,64 billion USD in 6. ASEAN and Korean leaders affirmed to continue to closely coordinate to effectively implement the ASEAN-Korea Solidarity Initiative (KASI) to further deepen bilateral cooperation. In addition to cooperation in responding to non-traditional security challenges, promoting trade, business connectivity, people-to-people and cultural exchanges, education, tourism, the two sides agreed to further promote cooperation in science and technology and innovation, digital transformation, environment, climate change response, disaster management...

President of the Republic of Korea Yoon Suk Yeol shared his assessment of the remarkable progress achieved in ASEAN-Korea relations in all fields over the past 35 years, in which total trade turnover increased 23 times, investment increased 80 times and people-to-people exchange increased 37 times. 

The President of the Republic of Korea affirmed that he will continue to prioritize further strengthening solidarity and cooperation with ASEAN countries, effectively responding to and handling challenges related to security, economy, climate change, etc., while increasing investment in resources for cooperation with ASEAN on smart cities, digital transformation, joint research, training of experts in technology and artificial intelligence with a plan to train 40.000 students, etc. 

Speaking at the conference, Prime Minister Pham Minh Chinh expressed his delight at the official establishment of the Comprehensive Strategic Partnership between ASEAN and the Republic of Korea on the occasion of the 35th anniversary of relations and while Vietnam plays the role of coordinator of ASEAN-RoK relations (2021-2024).

Prime Minister Pham Minh Chinh speaks at the 25th ASEAN-Republic of Korea Summit. Photo: Duong Giang/VNA

The Prime Minister proposed three orientations for implementing ASEAN-Korea relations commensurate with the new level. First of all, contributing more responsibly to peace, security, stability and prosperity in the region. The Prime Minister welcomed Korea's continued active support for ASEAN's common stance on the East Sea as well as efforts to build the East Sea into a sea of ​​peace, stability, cooperation and sustainable development. ASEAN is ready to coordinate and promote relevant parties to enhance dialogue, towards long-term peace and stability on the nuclear-free Korean peninsula. 

Second, promote economic cooperation more strongly, focusing on connecting economies, cultural cooperation, tourism, education and training. In particular, trade and investment cooperation needs to develop in a more balanced and sustainable direction, making better use of the ASEAN-Korea Free Trade Agreement (AKFTA) and the Regional Comprehensive Economic Partnership (RCEP), while promoting the signing of joint documents, creating a transparent and favorable cooperation mechanism, opening larger markets for each other, promoting exchanges and cooperation in culture, tourism, and education and training.

Third, take more drastic actions to promote inclusive, comprehensive growth and sustainable development, especially for new growth drivers. Accordingly, it is necessary to jointly open up new horizons of strategic cooperation such as innovation, high technology, renewable energy, digital transformation, green transformation, climate change response, semiconductors and artificial intelligence (AI), cloud computing, Internet of Things, etc., while continuing to promote the Mekong-Korea Partnership, actively contributing to sub-regional development efforts, ensuring inclusive growth, narrowing the gap and equitable and sustainable development in the region./.