Vietnamese Prime Minister Pham Minh Chinh speaks at the ASEAN Business and Investment Summit in Jakarta, Indonesia, on September 4. (Photo: VNA) Addressing the forum, themed “ASEAN Centrality:Innovating Towards Greater Inclusivity,” the Vietnamese leader said the blocboasts an open and extensive economic landscape with a network of eight Free TradeAgreements (FTAs), including the ASEAN Free Trade Area (AFTA) and seven otherswith key partners.
Notably, the Regional Comprehensive EconomicPartnership (RCEP) Agreement establishes a free trade region encompassing 30%of the world's population (with over 688 million people) and 32% of global GDP(amounting to over 3.6 trillion USD in 2022).
In addition, numerous new initiatives have been launchedto enable ASEAN to otimise opportunities arising from emerging development trendssuch as the establishment of the ASEAN Digital Economy Framework Agreement, theFramework for a Circular Economy, the Blue Economy Framework, and the ASEANStrategy for Carbon Neutrality, along with negotiations to upgrade the ASEANTrade in Goods Agreement and its FTAs with China, the Republic of Korea (RoK),Japan and India, among others.
ASEAN has stayed independent and self-resilient, andremained a bright spot in economic growth that reached 5.6% last year, and isexpected to stay at 4.5% this year, the PM continued.
The intra-bloc trade was valued at over 856 billionUSD, accounting for about 22% of ASEAN’s total trade revenue, he said, addingthat the group has effectively coped with challenges in energy security andfood security, and combated the COVID-19 pandemic.
ASEAN has served as a pivotal link in regional cooperationmechanisms through its relations and collaboration with external partners,according to the Vietnamese leader.
Through mechanisms such as ASEAN 1, ASEAN 3 and theEast Asia Summit (EAS), ASEAN countries have established and maintained balancedand flexible relations with partners outside the bloc.
Foreign countries have supported ASEAN's centralityand accepted its common principles and standards, PM Chinh said, noting that 43countries have joined the Treaty of Amity and Cooperation in SoutheastAsia (TAC).
To help ASEAN carry forward its role and position, andutilise opportunities, PM Chinh suggested the bloc strengthen its intra-blocsolidarity, and maintain its principles, and common stances and views, as wellas strategic balances in relations with partners.
ASEAN also needs to maintain long-term commitments tomarket opening and trade and investment promotion, he said, proposing the bloc promoteFTAs, and regional and global economic connectivity; and step up regionalintegration to better harness each other's strengths in seizing opportunitiesin the new global economy, especially emerging growth drivers such as digitaltransformation, green transition, circular economy, and sharing economy.
Social equality and progress and environmental protectionshould not be traded for economic growth, he said, stressing that people shouldbe the centre, actor, target and momentum of development.
To further uphold the role of businesses in spurring growth and creatingnew breakthroughs for ASEAN, PM Chinh held that governments and enterprises needto cooperate more closely, effectively and practically.
In this regard, countries should work together to perfectinstitutions by standardising and harmonising investment and businessregulations, and simplifying procedures through digital transformation, hesuggested.
Governments andbusinesses need to work together in strategic infrastructure development, and high-qualitypersonnel development, considering this the key to raising regional productivityand competitiveness.
As a reliable partner and an active,responsible member, Vietnam will continue to closely coordinate with Indonesiaand other ASEAN countries in an effort to build a united, self-resilient, anddeveloped ASEAN, helping to maintain an environment of peace,stability, cooperation and development in the region and the world, the PM pledged.
He used this occasion to call oninvestors to come to Vietnam with the motto of "harmonising interests andsharing risks."
PM Chinh noted his belief that ASEAN ingeneral and the business community in particular will keep pace with newtrends, effectively address challenges, and ensure a balance between short-termrecovery and growth, and long-term sustainable development./.
VNA
