The success of ASEAN has brought about valuable experience lessons for the promotion of integration in South Asia, Vietnamese Ambassador to South Africa Hoang Van Loi told a webinar held by The Diplomatic Society newspaper on January 18.

Vietnamese Ambassador to South Africa Hoang Van Loi (Photo: VNA)

Addressing the discussion themed “Partners in Economic Integration and the Asia-Pacific Interdependence,” Loi said that ASEAN has made contributions to leading Southeast Asia to progress and prosperity and creating relations for peace and cooperation with partners in the region and the world.

The bloc has become an important element which plays a central role in cooperation mechanisms and regional structure in the Asia-Pacific region. The role, position and prestige of the bloc have been increased in the eyes of international friends and partners.

ASEAN is currently one of the most dynamic economies in the world, with an annual average growth rate of 5.2 % during 2016-2020.

Loi cited analysts’ forecasts as saying that its GDP may reach US$10 trillion and become the fourth largest single market by 2030.

The Vietnamese diplomat stated that for ASEAN, unity in diversity is one of the basic principles of operation, and the key pillars of connectivity are politics-security, economics and socio-culture.

Peace, stability, solidarity, unity, prosperity and sustainability for the interests of each member and the entire region are the top target and the foundation of the bloc, Loi said, adding that the association must play a central role at any international forums or in working agendas involved in the region, and cooperation and dialogue in the bloc or with other countries must rely on mutual trust as well as international law and order.