President of the European Council Herman Van Rompuy, President of the European Commission Jose Manuel Barroso, PM Dung along with his counterparts from Italy, Japan and Malaysia attended a dialogue with Asian and European businesses as part of the AEBF14.
In his welcome address, Italian Federation of Chemical Industries President Giorgio Squinzi highly appreciated ASEM leaders’ attention to creating a favorable business environment for Eurasian businesses to intensify trade and investment activities.
In a statement submitted to EC President and ASEM 10 Chair Rompuy, President of the European Business Association Emma Marcegaglia made proposals to strengthen economic links between the two continents as a contribution to economic recovery and growth model transformation.
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| PM Nguyen Tan Dung giving a speech at the AEBF14 in Milan, Italy. |
ASEM leaders underscored the need to enhance businesses’ role and contributions to connecting the two continents in the context of global economic woes with implicit uncertainties.
They suggested businesses should work hand in hand with governments in promoting trade and investment and ensuring food and water resource safety and security, energy security, green technology development, sustainable management of natural resources. The leaders also asked businesses to become more involved in strengthening infrastructure connectivity between Asia and Europe.
In his speech at the forum, PM Dung commended practical suggestions made by businesses while asking them to carry out ASEM action programs to facilitate trade and investment and support members in coping with non-traditional security challenges, intensifying innovative and technological transfer, applying green technology through the public-private partnership (PPP) model and building consumer habits and a environmentally friendly mode of production.
“New economic links in Asia with the formation of the ASEAN Community in 2015 is opening up a new period of dynamic development for a common market and a united economic space in the Southeast Asia.
By 2020, ASEAN will become a focal point in the network of economic and trade links in the Asia-Pacific with the finalization of the Free Trade Agreements (FTAs) commitments between ASEAN and its partners, the formation of the Regional Comprehensive Economic Partnership (RCEP) framework, the Trans-Pacific Partnership Agreement (TPP) negotiations. Additionally, the ASEAN-EU Free Trade Agreement is expected to restart next year, Dung said.
PM Dung said Eurasian businesses need to grasp new opportunities for the implementation of connectivity projects in Asia, especially the Master Plan on ASEAN Connectivity, and ASEAN- Mekong sub-region connectivity.
“Vietnam is going ahead with economic restructuring in combination with transforming the growth model. In its comprehensive international integration, the country has become a proactive nucleus in the Southeast Asia, serving as a bridge linking the ASEAN economies. Most Vietnam’s strategic and comprehensive partners are the ASEM members. With the target of completing 14 FTAs until 2020, including the EVFTA in the finalization process, Vietnam will become an important link of the large economic connectivity network with 56 partners, including 47 ASEM member countries.
These provide foundations for Vietnam to make greater contributions to the Asia-Euro connectivity and more actively get involved in the global value chain thus bringing new opportunities to Eurasian businesses to increase investments in Vietnam.
Dung also reiterated his nation’s commitments to offering the best possible conditions for enterprises and investors to operate effectively in the country.
The AEBF14 themed “Enhancing business relations to foster economic integration between Europe and Asia" is part of activities in the lead up to the 10th Asia-Europe Meeting (ASEM 10) set to officially open on the evening of October 16 (Hanoi time) in Milan, Italy.
PM Dung is expected to attend the event along with senior leaders from 53 ASEM members, including 21 Asian countries, 30 European countries, the European Union (EU) and the ASEAN Secretariat.