Vietnam approves of an open multilateral trading system as well as the liberalization of trade and investment, Prime Minister Nguyen Xuan Phuc said at the first China International Import Expo (CIIE) held in Shanghai on Monday.

PM Phuc joined heads of state and government of 18 countries at the opening ceremony of the CIIE, within the framework of his business trip to China on November 4 and 5.

During his speech at the event, the Vietnamese premier stated that the CIIE would help boost mutual benefit and win-win cooperation, foster economic and trade collaboration, and create a strong motivation for economic growth of the region and the world.

The global economy has maintained a growth trend and the Fourth Industrial Revolution is spreading to each nation, opening up cooperation opportunities as well as bringing along new challenges, Phuc stated.

Trade disputes have required relevant parties to conduct dialogue, intensify trust, abide by international law, and boost cooperation on an equal footing, he noted.

Vietnam supports an open, fair, transparent, inclusive, and rules-based multilateral trading system with the World Trade Organization being the foundation, as well as the liberalization of trade and investment.

The premier reiterated Vietnam’s commitments to creating a favorable business environment and contributing to peace, stability, cooperation, and development in the world.

He took the occasion to brief participants on Vietnam’s socio-economic and international integration achievements before calling on further investment from foreign enterprises.

The CIIE is one of China’s four biggest external events in 2018 with the participation of over 3,000 enterprises from 130 nations and territories.

As a ‘guest of honor,’ Vietnam holds a national stall, showcasing products of 25 prestigious enterprises operating in the fields of agriculture, seafood, food processing, and trade services.

Within the framework of the event, Vietnamese enterprises held seminars with partners from China and other nations and territories to expand cooperation opportunities.

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