The organization of the first China-ASEAN Trade Fair (CA-EXPO) in south China's Nanning city is China's greatly noteworthy new initiative about expanding all-round relations between the country with ASEAN members, Vietnamese Deputy Prime Minister Pham Gia Khiem told Xinhua in a recent interview.

"China has made great efforts to make prompt and thorough preparations for the 1st CA-EXPO, being ready to welcome over 10 participating countries with over 1,000 national and standard pavilions. That shows the host country's enthusiasm and determination to forge and further improve the multifaceted ties between China and members of the Association of Southeast Asian Nations (ASEAN)," Khiem stated.

Vietnam will participate in the fair's special activities such as a China-ASEAN trade and investment conference, ASEAN forums on calling for investment and trade exchanges, and a Vietnam-China business forum on Thursday, he said, adding that its participation aims at beefing up traditional relations between Vietnam and China as well as other ASEAN members, and promoting trade among the nations.

Some 80 Vietnamese companies will showcase their products and services in the fields of farm produce, seafood, processed foodstuff, handicraft, tourism, cosmetics, fashion, garment, transport, investment and industry so as to "expand export market, seek partners for business cooperation, approach distribution channels and investment opportunities, and bring into play integration advantages of the China-ASEAN Free Trade Area," said Khiem.

He held that the construction of such an area with gradual removal of tariff and non-tariff barriers and implementation of trade-facilitating measures plus geographical advantages will strongly develop Vietnam-China economic and trade relations, and forge other cooperative ties. "The target of recording the two-way trade of 10 billion US dollars in 2010 set by the two countries' leaders is totally attainable," he noted.

Being a developing economy in transitional stage with a low starting point in productive forces, Vietnam will, via participation in the free trade area, "not only have more conditions to raise the ability of its productive forces and its competitive edges, but also take advantage of capital sources, technology, science, and economic management skills," Khiem said, adding that the country hopes China will give it certain preferential treatment so that it can minimize impacts of difficulties and challenges when participating in the area.

For the sound development of the China-ASEAN free trade area, Vietnam has been actively taking part in constructing a goods trade agreement. "Vietnam's commitments are based on the spirit of safeguarding its interests as well as interests of other members, and being highly feasible for implementation," he said.

Vietnam has disseminated information among the public, especially the business circle, about the content, benefits and challenges of participating in the area. It has also worked out plans on improving competitiveness of its economy in general and local enterprises in particular.

Vietnam will "keep on speeding up its reform process, especially in the fields of law and management mechanism so that its participation in the China-ASEAN Free Trade Area in particular and its international economic integration in general are getting deeper and becoming more effective," Khiem concluded.