Japan to help raise imports from SE Asian countries

Japan to help raise imports from SE Asian countries

TOKYO (AFP): Japan will offer measures to raise its imports
from currency turmoil-hit Southeast Asian countries by insuring
the region's trade transactions with Japanese firms, a news
reports said Saturday.

International Trade and Industry Minister Mitsuo Horiuchi will
propose the measures on the second day of the economic ministers
meeting of the Association of Southeast Asian Nations (ASEAN) to
be held for three days from Oct. 16 in Kuala Lumpur, Jiji Press
said.

Horiuchi is expected to propose that debt guarantee under his
ministry's trade insurance be applied not only to Japanese
companies but also to their local partners in joint projects, the
news agency said.

Under the proposed scheme Japan will guarantee loans made by
ASEAN firms and Japanese companies will be entitled to claim the
debt guarantees.

The measures will also include a plan to help Japanese
importers make payments in advance, Jiji said.

The Japanese minister will also offer technical cooperation
and measures to develop human resources in order to help smaller
companies and support industries such as automobile parts makers,
it said.

The meeting will be attended by ministers, mostly trade
ministers, from ASEAN's nine members, Brunei, Myanmar, Indonesia,
Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Cambodia would attend as an observer.

Japanese Prime Minister Ryutaro Hashimoto plans to present a
comprehensive package of economic assistance to Southeast Asian
nations at ASEAN leaders' informal summit in Kuala Lumpur in
December, Jiji said.

The package will include a regional currency stabilization
fund, following the currency woes triggered by the baht float on
July 2.