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

Strengthening economic cooperation between Viet 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 Ha Noi on Monday.


Speaking at the event, Deputy Minister of Planning and Investment Tran Quoc Phuong said that for nearly 30 years, Viet 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 Viet Nam, an important driving force to help Viet Nam maintain its economic growth rate for many years, added the deputy minister.

In addition, the partnership between Viet 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 Viet 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 Viet Nam and ASEAN was still growing and was a bright spot in the economic picture of Viet 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, Viet 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 Viet 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 Viet 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 Viet Nam last year with the participation of South Korea, Japan and Singapore.

Bui Tuong Lan, Permanent Vice Chairman of Viet 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 Viet 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 Lan. 


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