Prime Minister Pham Minh Chinh attends the 28th ASEAN+3 Summit

The Prime Minister expects ASEAN+3 to unite more closely, connect more effectively and innovate more strongly to continue inclusive and sustainable development, and effectively respond to challenges.

According to a special correspondent of the Vietnam News Agency, continuing the activities in the series of ASEAN Summits with partners, on the morning of October 27, Prime Minister Pham Minh Chinh and leaders of ASEAN countries, China, Japan and the Republic of Korea attended the 28th ASEAN+3 Summit at the Kuala Lumpur Convention Center.

The Director of the ASEAN+3 Macroeconomic Research Office (AMRO) and the Chairman of the East Asia Business Council (EABC) attended the Meeting as guests of the Chairman.

The countries assessed that since its establishment in 1997, ASEAN+3 has become an important cooperation mechanism focusing on developing economic, financial and regional development safety nets. The conference acknowledged the implementation results of the ASEAN+3 Work Plan for the 2023-2027 period, reaching 62%.

The implementation of the Chiang Mai Initiative Multilateralization (CMIM) is helping to strengthen the regional financial safety net. AMRO is increasingly playing a role in supporting countries in formulating macroeconomic stability policies. The ASEAN+3 Emergency Rice Reserve (APTERR) has become an instrument to promote food security in the region.

Leaders of ASEAN+3 countries emphasized that in the context of many uncertainties in the world and the region, ASEAN+3 cooperation needs to affirm its role as the main driving force in promoting cooperation, creating a favorable environment to maintain growth momentum in East Asia, promptly and effectively respond to challenges, and enhance resilience to shocks within and outside the region.

Speaking at the Conference, the leaders of China, Japan and South Korea highlighted the theme of “Inclusiveness and Sustainability,” the role of ASEAN in promoting growth and development in the region, and pledged to support and assist in realizing the ASEAN Community Vision 2045, deploy the ASEAN Power Grid and negotiate the ASEAN Digital Economy Framework Agreement.

The countries agreed to accelerate the implementation of the ASEAN+3 Work Plan for the 2023-2027 period, effectively implement, review and expand the Regional Comprehensive Economic Partnership (RCEP); continue to strengthen regional finance through CMIM and the Rapid Financing Facility (RFF), increase support for micro, small and medium enterprises, and develop a digital, green and sustainable economy. At the same time, it is necessary to promote cooperation in preventing transnational crimes, border management, food and energy security, responding to epidemics, climate change and natural disasters, etc., contributing to building and nurturing inclusive and sustainable societies for future generations in the region.

The 28th ASEAN+3 Summit. (Photo: Duong Giang/VNA)

At the Conference, Prime Minister Pham Minh Chinh shared the assessment of the leaders of the countries on the strategic value of ASEAN+3 in the context of rapid and complex geopolitical and geo-economic fluctuations, and increasing risks to the economy and development.

The Prime Minister expects ASEAN+3 to unite more closely, connect more effectively and innovate more strongly to continue to develop inclusively and sustainably, and respond effectively to external challenges and shocks. Accordingly, the Prime Minister proposed three orientations to enhance ASEAN+3 cooperation in the new situation.

Firstly, improve the quality of economic, trade and investment cooperation, digital transformation and green transformation in the region; effectively utilize the ASEAN-China FTA 3.0, and promptly review and upgrade the FTAs ​​between ASEAN and Japan and Korea; expand RCEP and link RCEP with other regions to diversify markets and supply chains; promote investment in digital infrastructure and data centers; strengthen digital trade cooperation, improve databases, improve economic management capacity, and support effective digitalization.

Second, strengthen the region's self-reliance and resilience; synchronously and effectively implement APTERR and RFF; promote cooperation in energy security, research and development of energy reserves in emergency situations; invest in developing climate change adaptation infrastructure and early warning mechanisms for natural disasters in the region. The Prime Minister also asked East Asian countries to support ASEAN countries in need of developing nuclear power, transferring technology, sharing experiences, training human resources and ensuring nuclear safety; and propose connecting financial centers of ASEAN+3 countries to attract more green financial flows to serve digital transformation and green transformation in the region.

Third, solidarity and close coordination to maintain a peaceful, secure and stable environment for development. ASEAN+3 must be a mechanism to maintain solidarity, promote dialogue, build trust, enhance comprehensive, inclusive and sustainable cooperation, together effectively respond to common challenges in the region and the world, and cooperate to protect cyberspace that affects human rights and people in the region.

The Prime Minister emphasized that whether it is the Korean Peninsula issue, the East Sea issue or any other issue, the most important factor is that countries need to respect international law, the United Nations Charter, the 1982 United Nations Convention on the Law of the Sea (UNCLOS), have frank dialogue, sincere cooperation, trust and mutual respect, resolve disputes by peaceful means, and together shape an open, inclusive, transparent, rules-based regional structure with ASEAN playing a central role.

At the end of the Conference, the Leaders of ASEAN+3 countries adopted a Declaration on strengthening regional economic and financial cooperation./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/thu-tuong-pham-minh-chinh-du-hoi-nghi-cap-cao-asean3-lan-thu-28-post1073009.vnp