The two sides agreed that economic-trade and investment collaboration continue to be the foundation for the bilateral relationship; and pledged to effectively implement the 2016-2020 Action Plan and soon finalize procedures to upgrade the ASEAN-China Free Trade Area (ACFTA) in order to realize high-level officials’ commitment on elevating two-way trade value to 1,000 billion USD and the total investment value of 150 billion USD by 2020.
China asserted its support for ASEAN’s central role and pledged to support ASEAN to implement the ASEAN Community Vision 2025 and goals on narrowing development gaps, building infrastructure, strengthening connectivity and regional integration, especially through effectively utilizing joint fund between ASEAN and China and funding from Asian Infrastructure Investment Bank (AIIB).
As for the ASEAN-Chia strategic partnership, all countries underlined the need to strengthen regional connectivity, including defining common priorities in China’s Belt and Road initiative and the Master Plan on ASEAN Connectivity (MPAC). Accordingly, ASEAN asked China to continue providing support for micro-, small- and medium-sized enterprises (MSMEs) and for building infrastructure and sustainable development.
Regarding the Ease Sea (South China Sea) issue, the consultation acknowledged the results of the ASEAN-China SOM on the Declaration on the Conduct of Parties in the East Sea (DOC) on May 18
th, including a consensus on submitting the draft framework for a Code of Conduct in East Sea (COC) to the ASEAN-China Ministerial Meeting (August, 2017) for consideration and approval; affirmed that this is an initial step for the further negotiation on building a substantial and legally-binding COC, contributing to maintaining peace and stability in the region.
Deputy Foreign Minister Nguyen Quoc Dung spoke on the process of regional connectivity and integration, highlighted the potential for development of East Asia and featured the agreement on ASEAN-China cooperation in building an ASEAN community. Vietnam agreed to continue to effectively promote the effectiveness of regional cooperation mechanisms and frameworks as well as the ASEAN+3 (ASEAN plus China, Republic of Korea and Japan), as well as the role of MSMEs.
On regional and global issues, the deputy foreign minister emphasized Vietnam’s principles and stance on the East Sea, the Korean Peninsula, and non-traditional security issues such as the fight against terrorism, trans-national and cyber-crimes. By An Nhien