PM Nguyen Tan Dung delivered a speech at the opening ceremony of the 10th ASEAN-China Expo (CAEXPO) and the ASEAN-China Business and Investment Summit (CABIS) in Nanning city, China’s Guangxi province on September 3.
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PM Nguyen Tan Dung at the opening ceremony of the CAEXPO 2013 and 10th CABIS, Nanning city, China, September 3, 2013 – Photo: VGP
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The following is the translation of his speech for reference
Prime Minister Li Keqiang of Chinese Government
Leaders of ASEAN member States
Distinguished guests and friends
First of all, I would like to extend sincere thanks to the Government of China for its thoughtful organization work and warm hospitality
I have pleasure to attend and deliver a speech at the opening ceremony of the 10th ASEAN-China Expo (CAEXPO) and the ASEAN-China Business and Investment Summit on the occasion of the 10th anniversary of the establishment of strategic partnership between ASEAN and China who are working towards to lifting the two-way trade turnover to US$500 billion by 2015.
Dear delegates,
China is one of the first and most important foreign partners of ASEAN. In 2002, the conclusion of the ASEAN-China Framework Agreement on Comprehensive Economic Cooperation and then agreements on trade in goods, trade in services, and investment has helped build up pillars for the ASEAN-China free trade area which is the first of its kind that ASEAN has set up with a foreign partner.
Based on such firm foundation, the two-way trade between ASEAN and China has grown quickly at the annual rate of 22 percent. China has always been ASEAN’s biggest trade partner while ASEAN is the third biggest trade partner of China. China’s investment in ASEAN has increased steadily. Linkages among businesses and among citizens in the regional countries have also been increasingly tightened.
I am also pleased as both ASEAN and China have unceasingly been making efforts and undertaking initiatives in order to create a better background for development. I hope that with the good will of all parties, these efforts will help boost economic development in a more sustainable and balanced manner in the region.
Besides, CAEXPO has become an annual event, creating an important opportunity for each regional country to introduce its economic and investment potentials and for businesses to meet and seek investment and trade opportunities for mutual benefits and development. Viet Nam has always sent the biggest delegation to this event.
Distinguished guests and delegates,
Viet Nam has been an official member of the World Trade Organization for six years, working with ASEAN member countries to build the ASEAN Community, and actively joining the regional and international integration process.
In the context of the global economic hardship and fluctuations, Viet Nam has maintained macro-economic stability and annual average growth rate of 5.6 percent between 2011 and 2013.
For trade, in 2012, Viet Nam’s total trade turnover reached US$204 billion, including US$41 billion with China (top partner) and over US$38 billion with ASEAN. Of the total figure, the export value stood at US$115 billion, an increase of 18 percent compared to 2011. In 2013, the export revenue is expected to rise to US$130 billion, up 13 per cent against 2012. On average, Viet Nam’s export value between 2011-2013 climbs 21 percent per year (34 percent in 2011, 18.2 percent in 2012 and about 12.7% in 2013). ASEAN is now the third biggest export market and the second biggest goods supply of Viet Nam after China.
Regarding investment, Viet Nam is considered as a long-term and promising investment destination because of its political and social stability; a favorable geographical location; diverse and abundant natural resources; young, diligent, creative and cheap workforce, and especially the close conjunction with huge markets of China and ASEAN which has a population of over 600 million.
Up to now, Viet Nam is home to 15,100 projects with total registered capital of US$220 billion, of which around 50 percent (US$107 billion) have been disbursed.
Viet Nam has participated in many free tax agreements (FTAs), set up bilateral economic linkages with many countries and is now engaging in negotiations on the Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP) as well as free trade agreements with the EU and other big partners to expand export horizon and further join the supply chain and value chain in the region and the world.
The Government of Viet Nam will continue to spare no effort to restructure the economy, improve legal system and business environment; create favorable, equal and transparent conditions for investors.
Distinguished guests and friends,
We always support and attach importance to ASEAN-China cooperation and believe that this framework would contribute to effectively boost the bilateral relations between Viet Nam and China. The Government of Viet Nam always encourages and creates favorable conditions for enterprises from China and ASEAN to do business in Viet Nam. We also advocate studies and exchanges on upgradation of the free trade area between ASEAN and China in accordance with common interests of relevant parties and for mutual benefits and development.
Viet Nam believes that beside the mainstream of cooperation in various areas for mutual benefits and development, all disputes and divergences in our region are an objective reality which must be responsibly and effectively controlled and we must work together to build trust and political determination and negotiate together to settle them through peaceful measures with respect to international law while seeking proper and satisfactory solutions that can be accepted and unanimously agreed by relevant parties.
On behalf of the Government of Viet Nam, I would like to extend sincere thanks to the Chinese Government for its the valuable support and assistance for Viet Nam to participate in regional cooperation initiatives, including summits during CAEXPO, striving to accelerate the relations between ASEAN and China in general and between Viet Nam and China in particular.
I wish the 10th ASEAN-China Expo and the ASEAN-China Business and Investment Summit a success.
May business communities of ASEAN and China continue to enjoy strong growth.
I wish all of you strength and happiness.
Thank you./.