Hanoi (VNA)🉐 – VietnamesePrime Minister Nguyen Xuan Phuc attended the 22nd ASEAN Plus Three (China, Japanand the Republic of Korea) Summit in Bangkok, Thailand, on November 4 as part ofthe ongoing 35th ASEAN Summit and related summits.

Addressing the event, PM Phuchighlighted the significance of the ASEAN Plus Three mechanism, describing itas the most dynamic cooperation framework between the ASEAN and its partnersand an important motivation for the global and regional economic growth. He held that amidst thecomplicated regional and global situation, the ASEAN Plus Three countries arefacing many challenges, requiring them to maintain and foster multilateralcooperation, trade facilitation and connection, while enhancing theirresilience against impacts from the outside. The Vietnamese PM proposed strengtheningeconomic-financial partnership as well as enhancing the efficiency andreadiness of the Chiang Mai Initiative Multilateralisation(CMIM)agreement to crisis and crisis prevention. It is necessary to improve thecapacity for the Macroeconomic Research Office(AMRO) in giving necessary policy recommendations, he said, underlining theneed to consider the promotion of measures such as developing green bonds andsustainable bonds, and increasing the use of government bonds. TheVietnamese leader asserted that connectivity is crucial in sustainabledevelopment, therefore, it is necessary to focus resources on the improvementof infrastructure connectivity, digital connection and digital economicdevelopment, e-commerce, and smart city building. PMPhuc also underscored the significance of people connections, in which Vietnamis working hard to increase mutual understanding among people from all walks oflife in the region. Atthe event, the leaders affirmed the importance of the ASEAN Plus Three topeace, stability and prosperity in the region based on the principles of mutualtrust, respect and sharing of common benefits. TheASEAN Plus Three countries, with 2.2 billion people and one-fourth of the worldGDP, are cooperating in 22 areas and within 65 mechanisms. Theleaders expressed their pleasure at ASEAN Plus Three collaboration outcomes,especially in implementing the action plan for the 2018-2022 period. Traderevenue between the ASEAN and the three partners reached 869.1 billion USD in2018, accounting for 31 percent of the bloc’s total trade in the year, andrepresenting a year-on-year rise of 6.8 percent, they noted. Theyagreed on the need to continue strengthening cooperation to make morecontributions to the global economic growth. Theyconcurred to support the open, transparent, inclusive and law-basedmultilateral system as well as efforts to conclude negotiations for the RegionalComprehensive Economic Partnership (RCEP), while strengthening affiliation invarious areas including agro-forestry-fisheries, health care, social security,climate change, natural disaster and communicable disease management, economy,connectivity and macro-economy. At the end of the meeting, theleaders adopted a ASEAN Plus Three Leaders’ Statement onConnecting the Connectivities Initiative, and agreed to build a website of theASEAN Plus Three./.