ASEAN committed to cooperating with foreign partners: secretary general

The Association of Southeast Asia Nations (ASEAN) keeps improving atmosphere to make it more conducive to its foreign partners, a top executive said here on Thursday.

Secretary General of ASEAN Surin Pitsuwan told audience in his welcoming remarks of the 1st ASEAN-EU Business Summit that it is time for private sectors of ASEAN and EU to have direct dialogue.

"We are trying to improve environment that you'll feel more comfortable and more confident. We are improving the overall atmosphere to make it more conducive and more welcoming to our foreign partners," said Pitsuwan, adding that ASEAN is now embarking upon community building that also aims to move into global community of nations.

According to Pitsuwan, the EU is a very important partner as it is ASEAN's second largest trading partner after China, accounting for 11.5 percent of ASEAN trade in 2009.

The EU is ASEAN's largest export market in 2009, accounting for 11.5 percent of ASEAN export in the year.

On investment, EU's cumulative foreign direct investment from 2007 to 2009 stood at 34.6 billion dollars, the largest among ASEAN foreign partners, accounting for 21.1 percent of total FDI inflows into ASEAN.

Pitsuwan said that as the live standard in ASEAN is improving, it provides big opportunities for foreign investors.

"It is interesting that 68 percent of all FDIs in ASEAN at the moment are going to service sector. It means that the purchasing power here is increasing. It means that middle class is expanding. Therefore, they look for quality of life, better life. People want to spend more of their income to make life better. Life in ASEAN is improving and it's a big room for investment from foreign entrepreneurs," he said.

"It is also extremely important that now after 30 years of the government-to-government cooperation and exchange, private sector of both sides are taking on hands, so that it is time for them to dialogue directly," he added.

Source: Xinhua

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