The attendance of Vietnamese Prime Minister Pham Minh Chinh and the Vietnamese delegation at the 20th CAEXPO and CABIS is of great significance as the year 2023 marks the celebration of the 15th anniversary of Vietnam-China comprehensive strategic cooperative partnership and the 20-year journey of the CAEXPO and CABIS.

Prime Minister Pham Minh Chinh (ninth from left), together with leaders and officials of China and ASEAN countries, attended the opening ceremony of the 20th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) in Nanning city, China's Guangxi province, on September 17.

CAEXPO and CABIS are important and prestigious events on economic, trade and investment cooperation of the ASEAN-China business community. After 20 editions, they have become symbols and guiding flags of economic, trade, and investment cooperation between China and ASEAN.

The past 20 years have witnessed great strides that have gone beyond anyone's imagination in ASEAN-China economic cooperation.

Accordingly, the bilateral trade, starting from 78.2 billion USD in 2003, has increased 13 times to reach 975.6 billion USD in 2022, making China and ASEAN each other’s largest trade partners and among their most important investment partners.

Host country China welcomed the delegations from ASEAN countries, especially Vietnam, with great respect, friendliness, and thoughtfulness.

Upon his arrival at the airport, Prime Minister Pham Minh Chinh was welcomed with a traditional performance imbued with the cultural identity of Guangxi Province.

For Vietnamese localities and businesses, the participation at CAEXPO plays an important role in advertising and promoting trade, economic cooperation, and investment between Vietnam and China, especially Guangxi Province, and ASEAN.

The trade turnover between Guangxi and Vietnam accounts for two-thirds of the total trade turnover between Guangxi and ASEAN, and accounts for half of the total trade turnover between Guangxi and other countries in the world.

Prime Minister Pham Minh Chinh pressed the button to inaugurate the Vietnamese pavilion at the 20th CAEXPO. Among the participating ASEAN countries, Vietnam’s pavilion had the largest scale with 250 booths covering an area of nearly 5,000 sq.m, displaying high-quality Vietnamese products and services. The pavilion attracted great attention from international visitors, especially Chinese people.

In his opening speech at CAEXPO 2023, which featured the participation of Chinese Premier Li Qiang and leaders of ASEAN countries, Prime Minister Pham Minh Chinh said that in the context of the slow recovery of the regional and global economy and the increased requirements of cooperation, ASEAN and China need to strengthen trade and investment cooperation.

The Vietnamese Government leader stressed that Vietnam wishes to continue with China and ASEAN countries to conclude negotiations on upgrading version 3.0 of the ASEAN-China Free Trade Agreement, upgrade road and rail transport infrastructure connections, and pilot a smart border gate model to better meet the need of investment, business, trade, culture, tourism of the business community and people of each country.

The Prime Minister also proposed that the two sides strongly promote bilateral trade for balanced and sustainable development, foster strategic connection to develop both hard and soft infrastructure, and strengthen people-to-people exchange and cooperation in culture, tourism, and aviation, while enhancing collaboration in emerging fields and creating new growth drivers such as the green economy, digital economy, circular economy, new materials, and sharing economy.

Prime Minister Pham Minh Chinh visits the Vietnamese trade pavilion.

ASEAN and Chinese business communities need to learn, exploit, and help each other to take advantage of opportunities from CAEXPO and CABIS, turning potential and cooperation opportunities into specific results and products, he stated.

The Prime Minister's activities also made important contributions to the success of CAEXPO and CABIS 2023, thereby tightening practical cooperation, especially in the fields of economics, trade, and investment between Vietnam and China, between ASEAN and China in general, as well as between Vietnam border localities and Guangxi in particular, for the benefit of the peoples and businesses of both sides.

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Source: NDO