13th Trade Ministers Conference of ASEAN, China, Japan and ROK Held in Vietnam

In the afternoon of August 26, the 13th Trade Ministers Conference of ASEAN, China, Japan and ROK (10+3) was held in Danang, Vietnam. Vu Huy Hoang, Vietnamese Minister of Trade and Industry, Chen Deming, Chinese Minister of Commerce, Masayuki Naoshima, Japanese Minister of Economy, Trade and Industry, and Kim Jong-hoon, South Korean Minister for International Affairs and Trade, jointly chaired the conference.
Chen Deming said in his address to the conference that the population of 10 countries of ASEAN, China, Japan, and ROK account for more than a third of the total world population, having about 20% share of world GDP, 31% share of the total world trade. The trade cooperation between ASEAN, China, Japan and South Korea (10+3) is of great importance in enhancing regional awareness and promoting world economic development. 10+3 cooperation, with the longest history, and widest coverage for cooperation, is the most sophisticated cooperative mechanism in East Asia, and has played an role that no one can do over the past ten years in increasing regional competitiveness and promoting common development of all countries. Especially in coping with the financial crisis, China, Japan and ROK have maintained close contacts with ASEAN countries, worked together to oppose protectionism, and deepened cooperation, and have revitalized growth in economy and trade in their own country. China attaches great importance to trade and economic cooperation with the Member States of 10+3, and will advance East Asian trade cooperation on the principle of " consultation on equal footing, mutual benefit and win-win, gradual and orderly progress, openness and tolerance ", so as to make contributions to regional economic development and common prosperity in East Asia.
Chen said the economic integration of East Asia contributes to the economic development of the countries in the region, and is a positive measure for fast development,, mutual benefits and win-win. As a main channel for East Asian economic cooperation, 10+3 cooperation has become a core mechanism of East Asian regional cooperation, and shall bring into full play of its role in regional economic integration. According to the consensus reached in 2009 by the leaders of ASEAN, China, Japan and ROK (10+3), China proposed to facilitate trade liberalization under the 10+3 framework, hoping to strengthen cooperation in trade liberalization among the 10+3 member states in the next five years, so as to reduce transaction costs and create a better trading environment.
Chen also held talks with Mustapa Mohamed, Malaysian Minister of Trade and Industry, Mari Elka Pangestu, Indonesian Minister of Trade, and De Gucht, member of the EU Committee for Trade.