ASEAN accelerates linkages in Asia-Pacific

VietnameseState President Nguyen Minh Triet addresses the APEC CEO Summit 2010 in the Japanese city of Yokohama on November 12, 2010 – Photo: VOV

The Vietnamese State President said before 500 CEOs of corporations from 21 APEC member economies that ASEAN has emerged as an integral political-economic block and a successful organization, and that the road for ASEAN growth has strengthened the Asian-Pacific alliance.

When ASEAN decided to form an ASEAN free trade area in 1992, APEC approved the Bogor goals, and when the regional group agreed to build up an ASEAN Economic Community in 2003, an idea to build an Asia-Pacific free trade area appeared.

ASEAN has set up a network of an ASEAN free trade area plus one, with China, Japan, the Republic of Korea, India, Australia and New Zealand. Ties between ASEAN and other major partners, including the US, Russia, the EU, Canada and members of the East Asia-Latin American Cooperation Forum have ceaselessly broadened and deepened.

The year 2010 was a turning point in the ASEAN-plus one framework as the bloc signed a series of free trade agreements with partners.

The 17th ASEAN Summit in Hà Nội adopted an overall plan on ASEAN connectivity, calling for stronger linkages in terms of infrastructure, policies and people within the regional grouping as well as with East Asia.

State President Triet called for the world’s leading corporations to take the lead in helping APEC member economies, especially developing countries, build up sustainable and knowledge-based economy.

He also asked regional giants to work with ASEAN in accelerating the roadmap towards an ASEAN Community by 2015.

Regarding Vietnam’s development, the State President said its GDP has grown 7-8 per cent annually in the last 25 years, and its trade with the world has surged 15-20 per cent.

He announced Việt Nam’s decision to join negotiations for an agreement on Trans-Pacific Strategic Economic Partnership (TPP) as a full member. Besides, the country will start negotiations for a free trade agreement with the EU.

The State President expected that in the 2011-2020 period, regional economic groups will assist Việt Nam in making breakthroughs in infrastructure, manpower and institutional reform.

He reiterated Vietnam’s commitment to creating all favorable conditions for foreign investors and traders to be successful in the country.