U.S. businessmen bullish on SE Asia<\/p>\n
SINGAPORE (AFP): Top U.S. business executives said Wednesday
\nthey remained bullish on Southeast Asia's economic future, and
\nencouraged the region to forge ahead with the establishment of a
\nfree trade area.<\/p>\n
"Despite the recent economic downturn, trade in Asia and
\nespecially the ASEAN region, has grown over the past decade,"
\nsaid Jim Kelly, chairman and chief executive of package delivery
\ngiant United Parcel Service (UPS).<\/p>\n
"Asia now represents a third of the world's total
\ninternational trade," said Kelly, who chairs the U.S.-ASEAN
\nbusiness council.<\/p>\n
He was speaking in Singapore at the opening Wednesday of a
\nS$38 million (US$21.2 million) Asia-Pacific office of UPS.<\/p>\n
With the region's potential for growth in mind, "UPS takes a
\nlong-term approach to its investments and business strategies and
\nthe company will continue to help businesses in Singapore and
\naround the region be successful in the global marketplace," he
\nsaid.<\/p>\n
His statements echoed earlier remarks in Malaysia by business
\ncouncil president Ernest Bower following a meeting of the
\ncouncil's board of directors earlier this week.<\/p>\n
"We chose Malaysia for our annual meeting in the region to
\nunderscore the importance of Malaysia to the U.S. private sector.
\nWe are committed to take action to strengthen this relationship
\nand expand our trade and investment ties in Malaysia and in the
\nASEAN region," Bower said.<\/p>\n
ASEAN is the Association of Southeast Asian Nations, which
\ngroups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the
\nPhilippines, Singapore, Thailand and Vietnam.<\/p>\n
The regional bloc's image as an investment site has been
\ntarnished by political problems in its biggest country Indonesia
\nand key member Thailand as well as kidnappings in the
\nPhilippines.<\/p>\n
Poverty in new members Laos, Cambodia and Vietnam and
\nallegations of human rights abuses in military-ruled Myanmar have
\nalso affect foreign investor perception of the region.<\/p>\n
Bower urged Malaysia to take a leadership role in promoting a
\nplanned ASEAN Free Trade Area that will move into effect by 2003
\nfor ASEAN's six more developed members, and at a later date for
\nthe rest.<\/p>\n
U.S. corporate executives have said that selling ASEAN as a
\nunified market of 500 million people, rather than as 10
\nindependent countries, would lure more foreign investors, amid
\ngrowing competition from giant neighbor China.<\/p>\n
The U.S.-ASEAN business council is a non-profit organization
\nthat promotes increased trade and investment between the United
\nStates and ASEAN members. Its members include the executives of
\nseveral top U.S. companies.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/us-businessmen-bullish-on-se-asia-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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