The forum discussed trade and investment cooperation in East Asia and proposed measures to expand cooperation channels. It also approved a joint declaration to step up building mechanisms and promote regional cooperation.

Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Doan Duy Khuong said ASEAN is the world’s most dynamic and efficient economic region and so the region should further strengthen integration and cooperation. ASEAN is actively negotiating with relevant sides to establish free trade areas with North-East Asian countries, India, Australia and New Zealand. Therefore, the forum is very important because it will help expand trade and investment cooperation and economic development for all of ASEAN, including Vietnam, Khuong said.

He added countries should step up building infrastructure, such as seaports and stocks and legal framework, as well as exchange information to improve the cooperation efficiency.

The ASEAN-China Free Trade Area began operation as from January 1, 2010, contributing to promoting regional economic and trade cooperation. In the first nine months of 2010, two-way trade value between ASEAN and China reached US$211.31 billion, a year-on-year increase of 43.7 percent and equal to the value in 2009.