Ministry of Commerce, Industry and Tourism : Southeast Asia, a great opportunity for Colombia

Bogotá, DC, July 10, 2012.- On the first day of the Business Forum of the countries of the Association of Southeast Asian Nations (ASEAN) and Latin America.

• Colombia participates at ASEAN-Latin America Forum
• "The world is changing dramatically and a major initiative to improve communication between emerging zones is to encourage forums of this type, so as to achieve solid business agreements," Vice Minister of Foreign Trade of Colombia, Gabriel Duque Mildenberg

The Vice Minister of Foreign Trade of Colombia, Gabriel Duque Mildenberg, stressed the importance of such regional meetings in reaching agreements and opening new opportunities, particularly when the European crisis is giving cause to look to other poles of growth.

The ASEAN-Latin America Business Forum, which was held in Jakarta, Indonesia, aims to promote business contacts, increase exchanges of goods and capital, and advance cooperation on issues, such as combating climate change. Indonesian President, Susilo Bambang Yudhoyono, urged business executives attending the event to "use this forum to make deals and find business partners, for Southeast Asia and Latin America have a bright future ahead."

The attendees at the Forum agreed with the Indonesian President that it is necessary for employers in Southeast Asia and Latin America to build more and stronger relations, in light of the "crisis in the Eurozone," which is far from over, stressed the President.

For Vice Minister Duque, the great opportunities for Colombia are also found in Asia, where countries such as Indonesia are growing at an extraordinary rate. According to figures from the Indonesian Minister of Trade, Gita Wirjawan, the combined value of exports from ASEAN currently stand at about USD 2.5 trillion, while the figure for Latin America totaled USD 8.4 trillion.

One of the main obstacles to closer relations between the nations of Southeast Asia and Latin America, according to the analysis at the Forum, is lack of awareness about Latin America, on the part of ASEAN countries (Brunei, Burma -Myanmar, Cambodia, the Philippines, Indonesia, Laos, Malaysia, Singapore, Thailand, and Vietnam).

The ministers and vice minister identified that, among the challenges that ahead, is that the regulations between the two areas currently prevent deeper partnerships. For Vice Minister Duque, in addition to "promoting such forums to achieve specific business agreements, every country in Latin America and Southeast Asia has work to do at home, in terms of macroeconomic stability, improving the business environment, and in continuing to meet the challenges of infrastructure and quality education."

"We shouldn't simply occupy ourselves at the level of trade integration for goods, but also think about investment, services, and people," recommended Vice Minister Duque. The Vice Minister represented Colombia at the Forum, which concluded yesterday in Indonesia.

Sourced: 4-traders