ASEAN deepens ties with China, South Korea

Prime Minister Phạm Minh Chính speaks at the summits. — VNA/VNS Photo Dương Giang

VIENTIAN - Prime Minister Phạm Minh Chính emphasised the need for deeper connections between ASEAN and its partners to promote peace, security and sustainable development.

Prime Minister Chính was speaking at the ASEAN-China and ASEAN-South Korea Summits held in Vientiane, Laos on Thursday.

At the 27th ASEAN-China Summit, the leaders highlighted the ongoing positive developments in the ASEAN-China relationship, which has grown significantly since the two sides established a Comprehensive Strategic Partnership in 2021.

China has been ASEAN's largest trading partner for the past 15 years, with bilateral trade reaching nearly US$700 billion in 2023 and is also its third-largest foreign direct investor, with investments totalling $17.3 billion.

The summit marked the near-completion of negotiations to upgrade the ASEAN-China Free Trade Agreement (ACFTA) to version 3.0 to further enhance economic, trade and investment cooperation.

Leaders also stressed the importance of expanding cooperation in areas such as science and technology, digital transformation, smart agriculture, energy, climate change and disaster management.

Heads of ASEAN member states and Chinese Premier Li Qiang at the 27th ASEAN-China Summit held on Wednesday in Vientiane. — VNA/VNS Photo Dương Giang

Chinese Premier Li Qiang reaffirmed China’s commitment to strengthening regional economic ties, implementing ACFTA and the Regional Comprehensive Economic Partnership (RCEP) and promoting transportation projects to boost trade, tourism and cultural exchanges.

He also announced increased scholarships for ASEAN students to foster mutual understanding and trust.

On the East Sea issue (internationally known as the South China Sea), both ASEAN and Chinese leaders reiterated their commitment to maintaining peace and stability in the region, advocating for peaceful dispute resolution and advancing efforts to finalise an effective Code of Conduct (COC) in the sea.

PM Chính welcomed the deepening ASEAN-China relationship and called for greater resilience and comprehensive cooperation in the future. He urged stronger connectivity with China’s Belt and Road Initiative, better market access and collaboration in digital and green economies.

He also praised the 2024 ASEAN-China Year of People-to-People Exchanges, noting that such initiatives would foster mutual understanding, deepen cooperation and strengthen the foundation for long-term, sustainable relations.

South Korean President Yoon Suk Yeol speaks at the summits. — VNA/VNS Photo Dương Giang

At the 25th ASEAN-South Korea Summit, leaders celebrated the establishment of a Comprehensive Strategic Partnership, marking 35 years of diplomatic relations between ASEAN and South Korea (1989-2024).

South Korea is ASEAN’s fifth-largest trading partner, with bilateral trade reaching $196.64 billion in 2023 and the sixth-largest FDI source, contributing $11 billion in investments.

Leaders committed to deepening cooperation through the ASEAN-Korea Solidarity Initiative (KASI) and increasing collaboration in areas like non-traditional security, trade, people-to-people exchanges and science and technology.

South Korean President Yoon Suk Yeol emphasised the remarkable growth in ASEAN-South Korea relations, with trade multiplying 23-fold, investment increasing 80-fold and people-to-people exchanges expanding 37-fold over the past 35 years.

He reaffirmed South Korea's commitment to further cooperation in addressing security, economic, and climate challenges and announced plans to invest in smart cities, digital transformation and technology education, with a goal of training 40,000 students in AI and other high-tech fields.

Prime Minister Phạm Minh Chính, in his speech, celebrated the official establishment of the Comprehensive Strategic Partnership and proposed three key directions for advancing ASEAN-South Korea relations.

First, the PM called for greater efforts to contribute to peace, security and stability in the region. He welcomed South Korea’s support for ASEAN’s stance on the East Sea and efforts to maintain it as a region of peace and sustainable development.

Second, he urged stronger economic cooperation between ASEAN and South Korea, with a focus on enhancing connectivity in trade, investment, and infrastructure. The importance of expanding cultural exchanges, tourism and educational programmes was also highlighted to strengthen people-to-people ties.

He emphasised the importance of inclusive and sustainable growth, highlighting innovation and technology as the driving forces for the future. The role of the Mekong-Korea Partnership in contributing to the development of sub-regions was also stressed, with a particular focus on narrowing development gaps.

The ASEAN-South Korea Summit concluded with a pledge to strengthen bilateral cooperation across various sectors, ensuring mutual progress and prosperity.