Deputy PM Nguyen Xuan Phuc speaks at the opening ceremony (Photo: VNA)

More than 100 Vietnamese businesses are showcasing their products and services at over 200 booths at the China-ASEAN Expo (CAEXPO) in China’s Nanning city, forming the biggest number of exhibitors from an ASEAN nation to the 12th event.

Vietnamese Deputy Prime Minister Nguyen Xuan Phuc highlighted the fact at the opening ceremony of the CAEXPO and the China-ASEAN Business and Investment Summit (CABIS) on September 18.

He emphasised that in the 21st century, ASEAN and China have established the strategic partnership on the foundation of economic, trade and investment cooperation, helping the two sides emerge as attractive investment destinations in the region and the world. Their relationship is also one of a successful example of ASEAN’s cooperation with strategic partners.

He spoke highly of the CAEXPO and CABIS in advancing multifaceted cooperation between ASEAN and China along with initiatives boosting economic links and regional connectivity suggested by both sides, all of which have contributed to a favourable climate for business activities.

A peaceful and stable environment is a prerequisite to smooth economic, trade and investment connections, the Deputy PM said, adding that disputes must be settled peacefully and in line with international law while involved parties should respect to one another’s interests and act in a spirit of goodwill.

Vietnam , a neighbour of China, has actively participated in the CAEXPO over the last 11 years, the official noted, adding its companies bring to this year’s event a number of products such as farm produce, processed food, consumer goods, handicrafts, wood products, and tourism services.

On the fringe of the CAEXPO, a meeting on the trade in goods between Vietnam and China will be held by the Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency and the CAEXPO Secretariat. Another meeting will introduce economic and tourism potential of Vietnam’s northern border Lao Cai province.

According to the Trade Promotion Agency, the total value of trade transactions, contracts, and investment and business cooperation agreements reached by Vietnamese firms exceeded 100 million USD at the 11th CAEXPO last year.

The 12th expo, attended by over 2,200 enterprises from China and ASEAN, is scheduled to run through September 21.-VNA