{"id":9547,"date":"2011-07-07T01:07:19","date_gmt":"2011-07-07T01:07:19","guid":{"rendered":""},"modified":"2011-07-07T01:07:19","modified_gmt":"2011-07-07T01:07:19","slug":"ASEAN-Japan-to-hold-talks-with-business-leaders","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9547","title":{"rendered":"ASEAN, Japan to hold talks with business leaders"},"content":{"rendered":"

Ministers from ASEAN and Japan will join business leaders for the first time tomorrow for talks on lifting trade barriers<\/strong> and securing closer economic ties.<\/p>\n

Industry leaders from ASEAN and the Japanese Chambers of Commerce and Industry asked politicians to join them<\/strong> at the annual two-day gathering in Kuala Lumpur, which aims to address problems faced by Japanese investors targeting the 10-nation bloc<\/strong>.<\/p>\n

“They are expected to deliberate on the implementation of the ASEAN Free Trade Area<\/strong> … as well as ways to address barriers to trade in order to boost economic cooperation,” the trade ministry said in a statement.<\/p>\n

“Other key issues include problems faced by Japan’s private sector when investing in ASEAN and ways to boost their investments<\/strong>,” it added.<\/p>\n

Senior trade ministers from the Association of Southeast Asian Nations (ASEAN) — including from Brunei, Indonesia, Singapore and Malaysia<\/strong> — have confirmed participation along with ASEAN secretary-general Surin Pitsuwan.<\/p>\n

The Malaysian official said the ministers would also discuss the economic impact of Japan’s March 11 earthquake-tsunami on the region and how ASEAN could help in the country’s recovery.<\/p>\n

The Bank of Japan’s keenly-watched Tankan survey of business confidence plunged in the months after the disaster<\/strong>, turning negative for the first time in more than a year, as factories were shuttered, power shut off and supply lines broken.<\/p>\n

While firms expect conditions to improve by September, analysts warned that the pace of Japan’s recovery was uncertain amid power shortages following the crisis at the tsunami-ravaged Fukushima Daiichi nuclear plant<\/strong>.<\/p>\n

Japan has always been the top source of foreign direct investment in ASEAN, pouring in US$5.2 billion in 2009<\/strong>.<\/p>\n

Trade between ASEAN and Japan in 2010 is estimated at US$220 billion<\/strong>, well up from US$160.9 billion in 2009.<\/p>\n

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam<\/strong>.<\/p>\n

Source AFP<\/em>
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