Global trade on ASEAN business meeting agenda

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)