World Economy

Dialogue Partners Keen to Promote Trade With ASEAN

Dialogue Partners Keen to Promote Trade With ASEANDialogue Partners Keen to Promote Trade With ASEAN

ASEAN dialogue partners are keen to further expand and deepen bilateral trade with the regional grouping as the creation of the ASEAN Economic Community draws near.

The second day of the ASEAN economic ministers’ meeting will see several consultations and dialogues, chaired by International Trade and Industry Minister Mustapa Mohamed, taking place, Bernama reported.

These include the 21st ASEAN economic ministers’ consultation with Japan’s Minister of Economy, Trade and Industry followed by a dialogue between them with the Federation of Japanese Chamber of Commerce and Industry in ASEAN.

Japan is the principal investor in ASEAN, accounting for 15% of total foreign direct investment. In 2014, Japan’s FDI to ASEAN stood more than $20 billion and almost $25 billion a year before.

The 18th AEM Plus Three consultations and dialogues will also take place with (dialogue partners) Japan, South Korea and China, together with the European Association for Business and Commerce.

In addition, the EU-ASEAN Business Council and the EU-Malaysia Chamber of Commerce and Industry will be holding their 4th ASEAN-EU Business Summit.

Among topics to be discussed include growing a world-class automotive industry in ASEAN and mobilizing strategic finance to help spur the small and medium enterprise sector and long-term investments.