Deputy Prime Minister Hồ Đức Phớc along with Chinese and ASEAN senior officials for the opening of the 21st China - ASEAN Expo (CAEXPO) and China - ASEAN Business and Investment Summit (CABIS). — VNA/VNS Photo

BEIJING — Deputy Prime Minister Hồ Đức Phớc highlighted four priorities of the China - ASEAN cooperation for stable, sustainable, and long-term growth while addressing the opening ceremony of the 21st China - ASEAN Expo (CAEXPO) and China - ASEAN Business and Investment Summit (CABIS) in Nanning City, the Guangxi Zhuang Autonomous Region, on September 24.

In his remarks, Phớc affirmed that as an active and responsible member of ASEAN and a comprehensive strategic cooperative partner of China, Việt Nam has joined hands with other ASEAN countries to coordinate closely with China and partners to promote new growth drivers and make practical contributions to the ASEAN - China comprehensive strategic partnership.

He described CAEXPO and CABIS as important symbols of the ASEAN - China cooperation that has not only generated cooperation opportunities for enterprises of countries but also substantially contributed to the friendship and mutual understanding between ASEAN and Chinese people.

The event also affirms China’s important role in the global economy as well as the confidence that countries’ enterprises put on the large and vibrant Chinese market full of development potential and opportunities, he said.

The Deputy PM appreciated the theme of this year’s expo and summit, which focuses on stepping up Version 3.0 of the ASEAN - China Free Trade Area (ACFTA) and quality growth, saying that this is a strategic choice of regional economies in the new context and also a factor promoting peace, stability, and prosperous development in the region and the world.

With the spirit of fostering cooperation for common development and working towards stable, sustainable, and long-term growth, he specified four priorities of bilateral cooperation.

The first is to strongly bolster balanced and sustainable trade development. Countries should continue to open markets, facilitate trade and investment flows, and implement free trade commitments such as the Regional Comprehensive Economic Partnership (RCEP) and the ACFTA. They should also complete the upgrade of the ACFTA to Version 3.0, and boost the application of digital technology and automation to customs clearance, Phoc noted.

The second is to promote the connection of development strategies, expand regional economic corridors, and connect inter-regional transport routes so that ASEAN and Chinese goods can further stretch their reach.

Việt Nam is accelerating the deployment of roads and railways linking with China, Laos, and Cambodia. This will not only help complete the regional transport network but also benefit Guangxi, which is working to realise its vision of becoming a gateway to ASEAN of China, the official went on.

The third is to step up high-quality investment, fuel new growth drivers, expand investment and development cooperation to pioneering areas and new sectors of the Fourth Industrial Revolution, like the digital economy, green economy, clean energy, and develop high-quality human resources in support of these.

The fourth is to enhance people-to-people exchanges as well as cultural and tourism collaboration, and create favourable conditions for young people and enterprises to understand one another. They should also work together to soon recover and develop tourism more strongly, according to the Deputy PM.

Following the opening ceremony, Phoc and others in the delegation attended the launch of the Vietnamese pavilion and visited booths of Vietnamese firms at the expo.

The 21st CAEXPO and CABIS cover nearly 200,000sq.m. and attract nearly 3,000 enterprises. As many as 120 Vietnamese companies are showcasing various quality products and services at some 200 booths.