ASEAN business summit draws key players

By Riyadi

SINGAPORE (JP): Over 600 business leaders and fund managers from ASEAN and its major trading partners will attend the inaugural ASEAN business summit in Jakarta on March 12 and March 13.

Summit organizing committee chairman Suryo Sulisto said here yesterday over 100 U.S. business leaders would attend the summit.

Dozens of business leaders from Europe, Australia and Japan had would also attend, he said.

"Thus we hope this summit will help promote the business contacts needed to exploit trade and investment opportunities in the region," Suryo said.

Several high-ranking ASEAN officials and prominent business leaders would speak at the summit which President Soeharto would attend, he said

Speakers include Malaysian Deputy Prime Minister Anwar Ibrahim, Singapore Deputy Prime Minister Lee Hsien Loong, Thai Deputy Prime Minister Amnuay Viravan, Indonesian Coordinating Minister for Production and Distribution Hartarto, Minister of Tourism, Post and Telecommunications Joop Ave and Minister of Industry and Trade Tunky Ariwibowo.

Investment agency heads from the seven ASEAN members -- Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam -- would be given opportunities to promote investment in their countries.

Private sector speakers will include president of the United States-based United Technology George David, Singapore Airlines chairman S. Dhanabalan, Asian Development Bank president Mitsui Sato; and president of Malaysia's MBF Finance Berhad Loy Hean Honng.

Indonesian business leaders who will speak include AceS president Adi R. Adiwoso, Jakarta Stock Exchange president Cyrill Noerhadi, Todung Mulya Lubis from Lubis and Associates law office, Indonesian Chamber of Commerce and Industry chairman Aburzial Bakri and Bank BNI president Widigdo Sukarman.

Aburizal Bakrie, who is also ASEAN Chambers of Commerce and Industry president, said the summit would focus on the region's trade and investment opportunities.

He said ASEAN had become a prominent trader and an attractive investment site which offered unique business opportunities.

ASEAN's 1995 trade was estimated at nearly US$600 billion, making it the world's fourth largest trading region after the United States, Japan and the European Union.

In 2003, when ASEAN's free trade agreement becomes effective, ASEAN is expected to have a population of over 500 million people; a huge market with vast business opportunities.

Aburizal said the summit would promote ASEAN business and investment opportunities in five sectors.

They are food and agriculture, automotive industry and capital goods, banking and insurance, franchises, and intellectual property rights and legal services and infrastructure.

Shortly before the summit, on March 10 and March 11, ASEAN CCI will have a council meeting in Jakarta. The meeting will discuss ASEAN CCI programs, food and agriculture, capital goods, and tourism.