Promoting economic co-operation between Việt Nam and ASEAN+ 3

HÀ NỘI — Strengthening economic cooperation between Việt Nam – ASEAN+3 towards economic recovery and development, as well as repelling the impact of the COVID-19 pandemic were discussed at a meeting among ambassadors of ASEAN+3 countries in Hà Nội on Monday.

Speaking at the event, Deputy Minister of Planning and Investment Trần Quốc Phương said that for nearly 30 years, Việt Nam had actively participated in ASEAN economic integration and joined with ASEAN member countries to build an important foundation for the official establishment of the ASEAN Economic Community (AEC) in 2015.

ASEAN has become one of the leading trade and investment partners of Việt Nam, an important driving force to help Việt Nam maintain its economic growth rate for many years, added the deputy minister.

In addition, the partnership between Việt Nam and Japan, South Korea and India had also achieved many important achievements, he noted. The three countries have effectively supported and co-operated with Việt Nam in many fields, thereby contributing to promoting the Vietnamese economy’s rapid and sustainable development.

Speaking at the event, delegates also said that the pandemic had caused many difficulties to the economy and business activities of the countries.

However, economic cooperation between Việt Nam and ASEAN was still growing and was a bright spot in the economic picture of Việt Nam in particular and of the region in general, heard at the event.

Specifically, under the negative effects of the COVID-19 pandemic in 2020, Việt Nam’s import and export of goods with ASEAN reached US$53.6 billion, down 6.8 per cent compared to 2019.

However, trade has recovered and regained momentum last year. Two-way trade turnover between Việt Nam and ASEAN reached $56.6 billion in the 10 months of last year, a year-on-year increase of 30 per cent, higher than the average import-export growth rate of Việt Nam with the world at 22.6 per cent.

Besides trade, the Ministry of Planning and Investment also said that the ASEAN+ 3 region was the leading investor in terms of total FDI into Việt Nam last year with the participation of South Korea, Japan and Singapore.

Bùi Tường Lân, Permanent Vice Chairman of Việt Nam – ASEAN Association for Economic Co-operation Development (VASEAN), said that the rapid outbreak and spread of the COVID-19 pandemic last year had caused serious consequences to the socio-economic development of Việt Nam and strongly affected VASEAN members.

But thanks to the solidarity, co-operation and mutual support to overcome difficulties; the direction and facilitation of leaders of ministries, agencies and localities; and the cooperation of embassies, VASEAN members have basically stabilised production and business activities.

The association has co-operated with embassies and businesses of ASEAN+ 3 countries to effectively organise online seminars, trade connections, and exhibitions and create momentum for development in the new year.

"VASEAN will work with each embassy to jointly build and organise exchange and co-operation programmes to promote economic development in the ASEAN and ASEAN +3 regions and strengthen mutual understanding among countries in the region for a region of stability, peace and development," stated Lân. — VNS