Hanoi (VNA) - Philippine President Rodrigo Duterte on November 14 welcomed the 20th ASEAN 3 Summit with China, Japan and the Republic of Korea as a solid foundation for establishing the East Asia Economic Community as proposed by Chinese Premier Li Keqiang

Duterte, who chaired the summit, said the two sides have made fruitful cooperation in economic, political-security and socio-cultural areas.

Over the past two decades, cooperation between ASEAN and the three Northeast Asian countries has continued to flourish steadily among ASEAN’s external partners, he said.

Echoing Premier Li’s proposal, Duterte urged the ASEAN 3 leaders to continue nurturing peaceful coexistence.

He also encouraged the ASEAN 3 leaders to formulate a common passion in pushing for the swift conclusion of negotiations on the Regional Comprehensive Economic Partnership (RCEP).

Launched in November 2012, RCEP targeted to cover trade-in-goods and services, investments, economic and technical cooperation, intellectual property rights, competition policy and dispute settlement, among others. It is seen as a good platform for the region to negotiate with other regional blocs.-VNA