Prime Minister Pham Minh Chinh attends 4th ASEAN-Australia Summit

Addressing the event, Prime Minister Pham urged ASEAN and Australia to continue close coordination to actively build their future-oriented comprehensive strategic partnership for peace and prosperity.

He hailed Australia as a sincere friend and trustworthy partner always willing to offer support during times of difficulty, calling on ASEAN and Australia to strengthen strategic coordination for peace and stability in the region.

Pham spoke highly of Australia's active support for ASEAN's common stance on the East Sea, including settlement of disputes through peaceful means and formulation of an effective and substantive Code of Conduct in the East Sea in accordance with international law, especially the 1982 United Nations Convention on the Law of the Sea, contributing to building the East Sea into the sea of peace, stability, cooperation and sustainable development.

Pham urged the two sides to create breakthroughs in economic, trade, and investment cooperation, and strongly promote new growth drivers such as science and technology, innovation, and digital transformation. 

Accordingly, both sides need to effectively tap complementary ecoomic potential, increase support for businesses, and facilitate greater market access, especially for agricultural products while encouraging the diversification of supply chains.

Pham appreciated Australia's support for the development of the Mekong subregion and Viet Nam's Mekong Delta, particularly in its "nature-based" development and climate change adaptation.

During the summit, leaders of ASEAN and Australia agreed to jointly implement a newly adopted action plan for 2025-2029 based on their Leaders' Vision Statement and the Melbourne Declaration adopted dat the ASEAN-Australia commemorative summit held in March this year.

The two sides also pledged to cooperate on commitments and initiatives, including the flagship Australia for ASEAN Futures initiative, valued AUD204 million (US$137 million), and a AUD2 billion investment financing facility to boost investment in Southeast Asia.

Two-way trade turnover between ASEAN and Australia reached US$94.4 billion in 2023. Australia invested US$1.6 billion to ASEAN last year./.