Deputy PM Ho Duc Phoc to attend 21st CAEXPO, CABIS
VGP – Deputy Prime Minister Ho Duc Phoc will attend the 21st China-ASEAN Expo (CAEXPO) and the 21st China-ASEAN Business and Investment Summit in Nanning, China, the Ministry of Foreign Affairs announce Sunday.
Deputy Prime Minister Ho Duc Phoc
Ho's China tour is made at the invitation of the Government of China, said the ministry.
Initiated by the Chinese side at the 7th ASEAN-China Summit in October 2003, the CAEXPO has been annually held in Nanning, Guangxi, China from the year 2004 onwards.
The CAEXPO has effectively promoted the business matching among the enterprises, industrial sectors and chambers of commerce/trade associations of both sides, facilitating the regular bilateral trade and investment, and advancing the bilateral economic and trade cooperation. The CABIS has been held concurrently.
In 2004 when the 1st CAEXPO was held, the bilateral trade volume fulfilled the goal of US$100 billion one year ahead of schedule. In 2007, the goal of US$200 billion was realized 3 years ahead of schedule. In 2020, the two-way trade exceeded US$684.6 billion, making China and ASEAN largest trading partner to each other. By the end of 2020, the accumulative two-way investment reached over US$310 billion.
The CAEXPO has effectively promoted the trade in goods, investment cooperation, advanced technology transfer, trade in services, city-to-city exchanges, industrial connection and subregional cooperation of the two sides./.
