Prime Minister Nguyen Xuan Phuc speaks at the event (Source: VNA) Brussels (VNA) – Prime Minister Nguyen Xuan Phuc has said it is time tofurther strengthen and step up Asia-Europe connectivity and cooperation towardsthe target of sustainable development and common prosperity.
PM Phuc made the statement in his keynoteaddress at the 16th Asia-Europe Business Forum held in Brussels, Belgium, onOctober 18. Themed “Connectivity-Building Bridges between Europe and Asia”, theevent attracted over 400 corporate executives and business representatives fromthe two continents.
The PM hailed Asia and Europe as two brightspots of global economic growth and connectivity, saying that Asia contributedto 6.2 percent of the global economic growth, led by East Asia – Pacific with a6.6 percent growth last year. The ASEAN launched the Master Plan onConnectivity in 2011 with a focus on infrastructure, institution and humanconnectivity.
Asiaalso boasts more than 150 free trade agreements (FTAs), accounting for about 60percent of the world’s total, he said, adding that the total cargo volume viawaters in Asia nears 5 trillion USD each year.
Meanwhile, the European economy is recovering firmlywith a 2.4 percent growth, a record in the past 10 years. The negotiations andsigning of free trade agreements between the two continents are opening upopportunities for connectivity and development, PM Phuc said.
According to the PM, the Vietnamese NationalAssembly is planning to ratify the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), a deal with high standards and balancedinterests during a meeting in November 2018. On October 17, the European Union(EU) adopted the EU-Vietnam Free Trade Agreement (EVFTA), which he said, markedan important step toward its signing in late 2018 and ratification in the firsthalf of 2019.
At the forum, the Vietnamese leader suggestedstrengthening connectivity between the governments and businesses and pushingforward public-private partnerships in high-quality infrastructure, digitalconnectivity, education, health care, energy, agriculture, manufacturing andprocessing.
He proposed holding regular dialogues betweenleaders of countries and business communities on the occasion of theAsia-Europe Meeting (ASEM) to extensively discuss issues of shared concern, aswell as stepping activities of the ASEM Economic Ministers’ Meeting anddialogues between economic ministers and businesses from the twocontinents.
PM Phuc also suggested actively fosteringbusiness-to-business connectivity and realising FTAs between Asian and Europeaneconomies.
He called on enterprises to enhance their socialresponsibility for job creation, environmental protection, response to globalchallenges for sustainable development and prosperity to all citizens.
Briefing the participants about Vietnam’ssituation, the PM said the Vietnamese economy has annually grown by over 6percent over the past two decades, expanding by 6.81 percent in 2017 and nearly7 percent in 2018.
Vietnam is now a trustworthy partner of over 200countries and territories with a total trade making up over 200 percent of its grossdomestic product (GDP). The country’s trade value hit 425 billion USD in 2017, ofwhich over 334 billion USD was traded in goods with Asian and Europeannations.
With 16 underway and future FTAs, Vietnam willhave free trade ties with nearly 60 countries, making it easier to join the globalsupply and value chains, PM Phuc stressed.
Vietnam is striving to build a transparent,constructive, action-oriented government in service of the people andbusinesses, and create a favourable business and investment environment, hesaid.
The PM said over the past three decades of reform,Vietnam has become a close friend of European partners. Europe is a big foreigninvestor in Vietnam with a total investment of nearly 25 billion USD and thelargest supplier of non-refundable aid of Vietnam. Two-way trade rose five-foldduring 2006-2017 to more than 50 billion USD last year.
According to a survey conducted by the EuropeanChamber of Commerce (EuroCham) in Vietnam in March 2018, 90 percent of Europeanfirms want to increase investment in Vietnam.
Together with the implementation of theFramework Agreement on Comprehensive Partnership andCooperation, the early signing and ratification of the EVFTA will create a newdriving force for trade and investment between Vietnam and the EU, he said.
PM Phuc also expressed his belief that the Asia-EuropeMeeting (ASEM) will continue to be a bridge to connect the power of the twoeconomic blocs, thus fuelling global economic growth in the future.-VNA
PM Phuc made the statement in his keynoteaddress at the 16th Asia-Europe Business Forum held in Brussels, Belgium, onOctober 18. Themed “Connectivity-Building Bridges between Europe and Asia”, theevent attracted over 400 corporate executives and business representatives fromthe two continents.
The PM hailed Asia and Europe as two brightspots of global economic growth and connectivity, saying that Asia contributedto 6.2 percent of the global economic growth, led by East Asia – Pacific with a6.6 percent growth last year. The ASEAN launched the Master Plan onConnectivity in 2011 with a focus on infrastructure, institution and humanconnectivity.
Asiaalso boasts more than 150 free trade agreements (FTAs), accounting for about 60percent of the world’s total, he said, adding that the total cargo volume viawaters in Asia nears 5 trillion USD each year.
Meanwhile, the European economy is recovering firmlywith a 2.4 percent growth, a record in the past 10 years. The negotiations andsigning of free trade agreements between the two continents are opening upopportunities for connectivity and development, PM Phuc said.
According to the PM, the Vietnamese NationalAssembly is planning to ratify the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), a deal with high standards and balancedinterests during a meeting in November 2018. On October 17, the European Union(EU) adopted the EU-Vietnam Free Trade Agreement (EVFTA), which he said, markedan important step toward its signing in late 2018 and ratification in the firsthalf of 2019.
At the forum, the Vietnamese leader suggestedstrengthening connectivity between the governments and businesses and pushingforward public-private partnerships in high-quality infrastructure, digitalconnectivity, education, health care, energy, agriculture, manufacturing andprocessing.
He proposed holding regular dialogues betweenleaders of countries and business communities on the occasion of theAsia-Europe Meeting (ASEM) to extensively discuss issues of shared concern, aswell as stepping activities of the ASEM Economic Ministers’ Meeting anddialogues between economic ministers and businesses from the twocontinents.
PM Phuc also suggested actively fosteringbusiness-to-business connectivity and realising FTAs between Asian and Europeaneconomies.
He called on enterprises to enhance their socialresponsibility for job creation, environmental protection, response to globalchallenges for sustainable development and prosperity to all citizens.
Briefing the participants about Vietnam’ssituation, the PM said the Vietnamese economy has annually grown by over 6percent over the past two decades, expanding by 6.81 percent in 2017 and nearly7 percent in 2018.
Vietnam is now a trustworthy partner of over 200countries and territories with a total trade making up over 200 percent of its grossdomestic product (GDP). The country’s trade value hit 425 billion USD in 2017, ofwhich over 334 billion USD was traded in goods with Asian and Europeannations.
With 16 underway and future FTAs, Vietnam willhave free trade ties with nearly 60 countries, making it easier to join the globalsupply and value chains, PM Phuc stressed.
Vietnam is striving to build a transparent,constructive, action-oriented government in service of the people andbusinesses, and create a favourable business and investment environment, hesaid.
The PM said over the past three decades of reform,Vietnam has become a close friend of European partners. Europe is a big foreigninvestor in Vietnam with a total investment of nearly 25 billion USD and thelargest supplier of non-refundable aid of Vietnam. Two-way trade rose five-foldduring 2006-2017 to more than 50 billion USD last year.
According to a survey conducted by the EuropeanChamber of Commerce (EuroCham) in Vietnam in March 2018, 90 percent of Europeanfirms want to increase investment in Vietnam.
Together with the implementation of theFramework Agreement on Comprehensive Partnership andCooperation, the early signing and ratification of the EVFTA will create a newdriving force for trade and investment between Vietnam and the EU, he said.
PM Phuc also expressed his belief that the Asia-EuropeMeeting (ASEM) will continue to be a bridge to connect the power of the twoeconomic blocs, thus fuelling global economic growth in the future.-VNA
VNA
