Vietnam committed to stronger ASEAN – GCC – China ties: PM

Kuala Lumpur (VNA) – Vietnam pledges to uphold its role as a reliable bridge and responsible partner, ready to accompany and contribute to peace, stability, and shared prosperity for all people and nations of ASEAN, the Gulf Cooperation Council (GCC), and China, said Prime Minister Pham Minh Chinh.

Addressing the ASEAN – GCC – China Summit in Kuala Lumpur on May 27, PM Chinh described the growing dialogue and coordination among these economic powerhouses as a historic opportunity to shape a new inter-regional strategic cooperation space for a prosperous, inclusive, and sustainable future for all nations involved.

Underscoring the need to prioritise trade, investment, and supply chain connectivity and steer clear of politicising science-technology, investment, and development, he proposed making full use of existing frameworks such as the ASEAN – China Free Trade Agreement, accelerating the signing of an ASEAN – GCC free trade deal, while exploring the potential of transforming inter-regional connectivity into a comprehensive trilateral economic cooperation mechanism, possibly leading to an ASEAN – GCC – China free trade agreement.

Countries must create a more open business environment, broader market access, and more transparent and stable investment policies. This, he said, will provide a strong foundation for businesses across the three sides to expand deeper into global supply chains for goods, services, and capital flows.

He urged high priority for strategic and breakthrough sectors, noting that as ASEAN finalises its Digital Economy Framework Agreement, now is a "golden moment" to build a connected, safe, and sustainable digital space.

The PM also pushed for enhanced regional power grid connectivity, sharing of green technologies, investment in renewable energy and green hydrogen, and sustainable agricultural and food systems, which include promoting smart agriculture, circular and ecological farming, and a stable and sustainable food supply chain, even in the Halal food industry.

Affirming capital as the lifeblood of robust, continuous, and sustainable economic growth, he called for stronger links between financial hubs in ASEAN, the GCC, and China. He proposed establishing a robust financial connectivity network among major centres such as Ho Chi Minh City, Kuala Lumpur, Singapore, Bangkok, Shanghai, Dubai, and Riyadh to create a seamless inter-regional financial ecosystem, which he said will propel ASEAN – GCC – China cooperation to new heights.

The Vietnamese leader expressed confidence that these proposals will lay the foundation for the expansion of other key sectors, including tourism, cultural exchange, and connection between human civilisations among the three regions, paving the way for a deep, comprehensive, and enduring partnership among ASEAN, the GCC, and China.

Delegates reaffirmed their commitment to trade, investment, finance, and supply chain connectivity while expanding market access for members of ASEAN and the GCC, and China. Emphasis was also placed on cooperation in emerging fields such as digital technology, artificial intelligence, and renewable energy. They vowed to increase cultural exchanges, educational collaboration, and tourism development, and launch new initiatives aimed at raising mutual understanding and people-to-people connectivity.

They underscored the importance of settling disputes peacefully in line with international law, safeguarding maritime security, and upholding the values of dialogue, cooperation, and trust building among nations./.