Asean and Japan to lift collaboration
ASEAN and Japan plan to increase their collaboration on energy and public health under a closer economic cooperation, while Asean and South Korea are set to celebrate the 25th anniversary of dialogue between them.
At sideline meetings at the East Asia Summit (EAS) held in Nay Pyi Taw, Myanmar, last week, Asean and Japan ministers agreed to tighten their cooperation in various areas under their 10-year Economic Partnership Agreement from 2012-2022.
Asean and Japan found that they could strength their cooperation in many sectors such as automobiles, chemicals, small and medium-sized enterprises, laws, and the East-West Economic Corridor to link shipments from the Andaman Sea to the South China Sea.
Closer ties will also be forged to develop a database for safety information on chemical substances, while there will be an enhanced cooperation in sectors such as energy and public health. For the energy industry collaboration, the focus will be alternative energy.
Asean and Japan will also closely monitor the outcome of the further liberalisation of the service and investment sectors.
Asean is the third-largest trading partner for Japan after China and the European Union. Two-way trade was valued US$240.9 billion (Bt7.7 trillion) last year, or 9.6 per cent of Asean’s total trading value.
Japan is the second-largest foreign investor in Asean after the EU, bringing in $22.9 billion in initial investment capital last year. Investment from Japan accounted for 18.7 per cent of the total foreign direct investment in Asean.
Bilateral trade between Thailand and Asean was worth $63.4 billion last year. Japan is the second-largest trading partner for Thailand after China.
Exports from Thailand to Japan amounted to $22.2 billion last year, while imports were worth $31.6 billion.
In the first half of this year, the two-way trade value was $28.9 billion. Exports from Japan were worth $17.9 billion, while imports were worth $11 billion.
Meanwhile, as part of Thailand and South Korea 25th dialogue anniversary on December 11-12, South Korea will host the Asean-Korea Leaders Summit in Pusan, South Korea, under the concept “Building Trust, Building Happiness”.
The host country will organise a meeting for business leaders to promote closer cooperation among private enterprises.
It also plans to establish the Asean-Korea Business Council, and set up the Asean-Korea Industry Cooperation Centre.
