Deputy minister of Industry and Trade Nguyen Thanh Bien is joining more than 400 delegates from China and a number of Asean countries to discuss issues within the expanded Bac Bo (Tonkin) Gulf economic cooperation framework in Nanning in China’s Guangxi province.
Addressing the opening of the seventh Pan-Beibu Gulf Economic Cooperation, deputy minister Bien affirmed Vietnam wants to further close cooperation with China and other Asean member countries on the principle of equality, mutual interest, respecting international law, territorial integrity and sovereign independence of participating countries.
Bien said together with more practical cooperation contents, the completion of existing diversified cooperation mechanisms in the region, inter-region and sub-region, including the expanded Tonkin Gulf economic cooperation framework, will enhance infrastructural connectivity and facilitating the tapping of supplements among regional economies.
The annual forum, themed “Economic Cooperation and Common Prosperity of Pan-Beibu Gulf”, focuses on urban development, electronic information industry development and China-Malaysia industrial cooperation. They also discuss rebalancing the global economy – expanded Tonkin Gulf regional cooperation and development.
The participants discussed the prospects of the world’s economy and the role of East Asia in the world’s economic recovery, impacts of regional free trade agreement (FTA), such as the East Asia Free Trade Area ( EAFTA ), the Comprehensive Economic Partnership for East ASIA ( CEPEA ), FTAs between China, the Republic of Korea and Japan, and the Trans-Pacific Partnership (TPP).
They also underlined the role of financial assistance mechanisms for the economic connectivity and cooperation frameworks among countries.
Regarding urban development, the delegates touched upon the possibilities to beef up cooperation and linkage among cities along the Nanning-Singapore economic corridor in infrastructure development and modern industry.
On opportunities to bolster economic cooperation within the expanded Tonkin Gulf framework, they proposed a mechanism to link enterprises, as well as between enterprises and government in electronic information industry.
The delegates also showed their keen interest in economic cooperation under industrial zones between China and each Asean member countries like the China-Malaysia industrial zone.