Asean: Epicentrum Of Peace, Cooperation, Development -- Vietnamese Fm

HANOI, Aug 8 (Bernama-VNA) -- ASEAN, over the past 56 years, has gradually affirmed its position as a pillar of peace, an epicentrum of growth and a nucleus of dialogue and cooperation in the region, said Vietnamese Foreign Minister Bui Thanh Son.

In an article he wrote in conjunction with the group’s 56th founding anniversary, he stated that born in the context of Southeast Asia's transformation and facing countless challenges and 'storms' from all directions, ASEAN has come to better understand the value of a peaceful, secure, and stable environment.

Titled "ASEAN: Epicentre of Peace, Cooperation, Development," the article said standards of conduct built by the 10-member bloc have contributed to shaping and leading cooperative relations towards the goal of peace, stability and common prosperity, reported Vietnam News Agency (VNA).

The Treaty of Amity and Cooperation in Southeast Asia (TAC) is a clear testament to the bloc's efforts. To date, the TAC with 51 participating countries has become a fundamental document and the basis for relations and behaviours among countries in the region.

Another example is the implementation of the Declaration on the Conduct of Parties in the East Sea (South China Sea) (DOC) and the ongoing negotiations on a Code of Conduct in the East Sea (COC).

This is ASEAN's efforts towards building the East Sea into a sea of peace, cooperation and sustainable development, as well as in building a culture of consultation and dialogue, according to Son.

With a total population of nearly 700 million and a gross domestic product (GDP) of nearly US$4 trillion, ASEAN is a large, dynamic and promising economy.

Overcoming headwinds of the world economy, the group has contributed to creating momentum and bringing optimistic hope to the regional economy, he said.

Amidst the gloomy colours of the world economic picture, ASEAN is a bright spot for growth and an attractive investment destination.

Its growth is forecast to reach 4.7 per cent in 2023 and 5 per cent in 2024, far exceeding the world average. Last year, the bloc's trade rose by nearly 15 per cent to reach US$3.8 trillion, while foreign direct investment (FDI) increased by 5.5 per cent to nearly US$225 billion.

Facing major global trends, ASEAN has quickly adjusted its approach, and boosted innovation and creativity in cooperation methods and contents towards green, clean and sustainable directions, and at the same time sought and expanded collaboration in new potential areas, according to Son.

Many measures have been taken such as negotiating to upgrade the ASEAN Trade in Goods Agreement, the bloc’s free trade agreements (FTAs) with China, the Republic of Korea, Japan and India; while a lot of new initiatives have been launched such as the ASEAN Digital Economy Framework Agreement, the Framework for a Circular Economy, the ASEAN Blue Economy Framework, and the ASEAN Strategy for Carbon Neutrality.

They are the preparation for an ASEAN that proactively adapts to various opportunities and challenges towards the goal of sustainable and inclusive development and self-resilience enhancement, Son emphasised.

-- BERNAMA-VNA