Pham made the above statement while addressing the opening ceremony of the 23rd China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) which took place in Nanning, Guangxi, on September 17.

According to the Standing Deputy Prime Minister, over nearly four decades, ASEAN-China relations have grown to become one of the most successful and stable models of cooperation.

Building on sound political ties, economic and trade cooperation between the two sides has made breakthrough progress, with bilateral trade increasing more than 130-fold and surpassing US$1 trillion for the first time in 2025, making the two sides each other's largest trading partners.

China also continues to be a leading source of foreign direct investment (FDI) in many ASEAN countries, he noted.

Within the broader framework of ASEAN-China relations, Viet Nam-China trade and investment cooperation has provided strong momentum and played an important role in connecting markets and production chains.

In the first eight months of 2026, trade between Viet Nam and China reached US$216 billion, up more than 35 percent year-on-year. With more than 7,000 projects worth US$37 billion, China ranked sixth among 153 countries and territories investing in the nation.

Viet Nam always attaches importance to, supports and takes pride in being an active member contributing to the overall success of CAEXPO and CABIS, Pham affirmed.

To further enhance ASEAN-China cooperation, Pham suggested both sides should effectively implement the ASEAN-China Free Trade Area (ACFTA) 3.0, further simplify procedures to faciliate trade and investment, and expand market access to each other's goods.

It is necessary to promote ASEAN-China trade and investment towards a balanced and sustainable direction, while strengthening linkages between businesses from both sides in green agriculture, clean energy and emerging sectors, he noted.

Pham stressed the need to accelerate digital connectivity and innovation, with the two sides jointly tapping the potential and making effective use of artificial intelligence, cross-border e-commerce, digital infrastructure and smart logistics, adding that ASEAN and China should work together to promote an innovative, safe and inclusive regional digital ecosystem.

ASEAN-China infrastructure connectivity should be reinforced across road, rail, maritime and air transport models, particularly cross-border transport connectivity, logistics and economic corridors, thereby creating stable and highly efficient regional supply chains, stated the Standing Deputy Prime Minister.

The 23rd CAEXPO and CABIS are being held from September 17-21 to mark the 5th anniversary of the establishment of the China-ASEAN Comprehensive Strategic Partnership.

With a total exhibition area of approximately 170,000 square meters, the events showcase the latest achievements in cooperation between China and ASEAN countries, as well as new opportunities arising from the China-ASEAN Free Trade Area 3.0.

More than 3,400 enterprises from over 70 countries and territories are participating in the Expo, an increase of 5.3 percent from the previous edition.

This year, 120 Vietnamese enterprises are participating with more than 200 booths showcasing a diverse range of products. This provides vivid evidence of Viet Nam's determination and desire to make greater contributions to promoting a peaceful, stable and mutually beneficial environment for ASEAN-China cooperation and development./.