Asean, Japan map out 10-year strategy

Asean and Japan have drawn up a strategic plan to drive economic growth by emphasising the promotion of small and medium-sized enterprises, food and farming, steel industry development, and creating logistics linkages.

Srirat Rastapana, director-general at the Trade Negotiations Department, said Asean and Japan have recently come up with a plan to strengthen economic cooperation in the next 10 years, aimed at ensuring growth amid uncertainty in the global economy.

Under the Asean-Japan Strategic Economic Cooperation Roadmap 2012-2022, the 10-year plan will aim to increase volume and value of trade in goods between Asean and Japan by focusing on promoting SMEs. It will increase cooperation in trade of goods, services and investment.

Asean and Japan will also increase cooperation on SMEs, science and technology, energy and energy reserves, farming and food security, logistics and transportation, telecommunication, education and human resource development, tourism and environment protection. Japan has also committed to help reduce the development gap among Asean countries and promote quality living in the region. The plan will be finalised within this month for signing by Asean and Japan's economic ministers.

Srirat added that Thailand has also proposed plans to increase activities for development of farming and community products, as well as to promote tourism growth.

Japan has been asked to transfer technology on steel industry development and logistics to Asean countries as Japan is highly developed in these industries.

According to the department, trade between Asean and Japan amounted to US$247.97 billion (Bt7.8 trillion). Of these, exports from Asean amounted to $124.8 billion, while imports were worth $123.17 billion.

About 3.6 per cent of trade in goods between Asean and Japan has been under the free-trade pact.

Sourced: nationmultimedia