Global trade on ASEAN business meeting agenda

JAKARTA (JP): Linking Global Business Partners will be the theme of the First ASEAN Business Summit from March 11 to March 13 at the Jakarta Convention Center.

Indonesian Chamber of Commerce and Industry (KADIN) mining section deputy chairman Suryo Sulist said yesterday President Soeharto would open and address the summit.

Suryo said the meeting would discuss opportunities to expand trade and investment cooperation between ASEAN and other countries.

ASEAN groups Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Cambodia, Laos and Myanmar are expected to join this year.

KADIN and the ASEAN Chamber of Commerce and Industry (ASEAN CCI) organized the summit to promote the expansion of ASEAN's combined Gross Domestic Product (GDP) to US$1.5 trillion by 2008.

ASEAN's GDP was about US$500 billion in 1995 when its international trade was worth US$600 billion. This made ASEAN, with its 430 million people, the world's fourth largest trading region after the U.S., Japan and European Union. ASEAN's gross domestic investment in 1995 was US$200 billion.

KADIN chairman Aburizal Bakrie, who is also president of ASEAN-CCI, said ASEAN aimed to double trade between members from $50 billion in 1994 to $100 billion in 2003, which is the deadline for trade liberalization under the ASEAN Free Trade Agreement.

Intra-ASEAN trade is expected to reach $150 billion in 2008, he said.

Suryo said the keynote speakers would include Malaysian Minister of International Trade and Industry Rafidah Aziz, former U.S. secretary of state Alexander Haig, Thai Deputy Prime Minister Amnuay Viravan and Singapore Deputy Prime Minister Brig. Gen. Lee Hsien Loong.

Other prominent speakers would include U.S. firm United Technology president George David, Indonesian Minister of Tourism, Post and Telecommunication Joop Ave, Singapore's Economic Development Board chairman Philip Yeo, Bakrie Group chairman Aburizal Bakrie, McDonald's Corp. managing director Raymond M. Ceska from the U.S., General Motors representative William S. Botwick from the U.S,, Jakarta Stock Exchange president Cyril Noerhadi and Nomura Singapore Ltd. chairman Wong Kok Siew.

Suryo said 400 company executives would definitely attend the meeting. "We hope the number of the participants will reach 600," he said. (10)