Deputy Minister of Industry and Trade Nguyen Thanh Bien made this statement at the seventh expanded Tonkin Gulf Economic Cooperation Forum which took place on July 12-13 in Nanning, Guangxi province, China.
More than 400 delegates from China and ASEAN nations attended the event, along with experts, scholars and entrepreneurs from within and outside the region.
Deputy Minister Bien said the current regional and sub-regional cooperation mechanisms in the expanded Tonkin Gulf cooperation framework have been revamped, which will enhance infrastructure connectivity and boost regional economies.
The main topics covered at the forum included urban development, information and technology (IT) development and China-Malaysia industrial cooperation. There was also a separate session for scholars to discuss issues related to rebalancing the global economy to expand cooperation in the Tonkin Gulf region.
They compared notes on the prospects for the global economy and East Asia’s role in its recovery, as well as regional impact of free trade agreements (FTAs) such as the East Asian Free Trade Agreement (EAFTA), the Comprehensive Economic Partnership in East Asia (CEPEA), and the Trans-Pacific Strategic Economic Partnership Agreement (TPP).
The scholars also highlighted the role of financial support mechanisms for the cooperation framework and economic links between regional countries.
The forum participants discussed promoting cooperation and connectivity between cities along the Nanning-Singapore economic corridor to develop infrastructure and help modernize industries in the area.
Regarding opportunities for economic cooperation within the expanded Tonkin Gulf cooperation framework, they stressed that IT is a potential area for development and proposed creating a connectivity mechanism between businesses and governments to encourage research and develop talent.
Economic cooperation between China and ASEAN nations following the model of industrial parks like the China-Malaysia industrial park was also raised for discussion.
The first annual forum took place in 2006 in Nanning, China, where it will continue to be held in the future.
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