VCCI President Vu Tien Loc Assumes EABC Chairmanship

11:23:18 AM | 14/1/2020

Recently, business leaders from 13 East Asian countries that are members of the East Asia Business Council (EABC) attended the 46th EABC Meeting in Hanoi, Vietnam to witness the transfer of the EABC Chairmanship 2020 from Dr. Lu Pengqi, Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) to Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI).

The 46th EABC Meeting was attended by nearly 40 representatives of chambers of commerce, business associations and trade promotion agencies from ASEAN countries and ASEAN’s partners like China, Japan and South Korea. At the meeting, Dr. Vu Tien Loc announced the EABC theme for 2020 “For a prosperous and inclusive future for East Asia” and informed EABC’s priority work agendas in 2020 as follows:

First, promoting business-related economic and trade policies to ensure regional integration and sustainable growth for East Asia by realizing the ASEAN Economic Community (AEC) and the Regional Comprehensive Economic Partnership (RCEP) Agreement.

Second, facilitating micro, small and medium enterprises (MSMEs) and women-owned enterprises in East Asian countries to access capital and international markets and successfully participate in global value chains by cooperation with EABC's partners.

Third, optimizing the potential of human resources, promoting digitize-based startups and innovation for an inclusive digital future for East Asia.

This is consistent with Party and State policies of Vietnam and is an opportunity for the economy and business community of Vietnam to connect with East Asian economies and the world.

EABC was established in 2004 by ASEAN countries, China, Japan and South Korea (ASEAN + 3) to represent views and responses of the private sector in the region to enhance business and investment cooperation and promote regional economic growth.

EABC is membered by large business leaders in ASEAN countries, Japan, China, and South Korea (each country has a maximum of three representatives appointed by its government). The current EABC Vietnam Chairman is Dr. Vu Tien Loc, VCCI President and Vice Chairman of the Korea International Trade Association (KITA).

Since its inception, EABC has held four meetings and dialogues with ASEAN+3 Economic Ministers and Leaders every year to provide views and recommendations on trade and investment opportunities and regional integration.