Commercial Counselor of the Vietnamese Embassy in China Dao Viet Anh (centre) talks about the potential of Vietnam-China economic partnership at the dialogue (Photo: VNA)Beijing (VNA) – The China-ASEAN Business Council(CABC) held a dialogue on business opportunities in Beijing, China on July 26,attracting some 300 corporate executives, as well as diplomatic and tradeofficials from both sides.
Speaking at the event, CABC President Xu Ningning said thisyear marks the 15th anniversary of China-ASEAN strategic partnership. Over thepast 15 years, extensive and comprehensive cooperation has not only fueled the economicgrowth of China and the 10 ASEAN member states, but also made positivecontributions to global economic growth and regional stability.
In the first half of this year, two-way trade between Chinaand ASEAN surged by 20.2 percent compared to the same period last year. China-ASEANtrade expanded at the fastest rate when compared to China-US and China-EU trade.
ASEAN counselors introduced the economic climate andrelevant policies in their countries, as well as discussing businessopportunities with China.
Commercial Counselor at the Vietnamese Embassy in China DaoViet Anh said China is now the eighth largest investor in Vietnam, with Chinesefirms further expanding their operations in the country. Bilateral trade surpassed100 billion USD last year, up 23.4 percent year-on-year.
According to him, both sides hold potential in developingspare parts manufacturing and assembly, high technology, energy, cultivation,aquaculture, food processing, infrastructure, and medicine over the next twoyears.
At the end of the dialogue, both sides issued the BeijingProposal and signed a memorandum of understanding on cooperation, with a focuson enhancing the exchange of information in the fields of economy, trade,finance, investment, technology, and market; and realising the China-ASEAN FreeTrade Agreement and various economic deals between the Governments.
As of May 2018, total investment between China and ASEANtopped 200 billion USD, 86.5 billion USD of which was direct Chinese investment.–VNA
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