ASEAN may lure 80 billion USD in FDI

FDI flow into ASEAN may reach 80 billion USD a year after the ASEAN Economic Community comes into being in 2015.

ASEAN Deputy Secretary General Puspanathan Sundram made the prediction at a press briefing in Kuala Lumpur , Malaysia right after the ASEAN Trade Ministers’ Dialogue with the Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA).

He said by facilitating trade, connectivity and transport and focusing on human resources and skilled workers, ASEAN would draw in 3.4 percent of the current FDI in the world.

At present, Japan is ASEAN’s largest FDI provider, registering 5.2 billion USD in 2009 which made up 13.4 percent of the total FDI in the region.

The FJCCIA Chief said Japan considered ASEAN as a strategic market and a large production centre.

At the dialogue, participants discussed the implementation of the ASEAN Free Trade Area and measures to lift trade barriers to boost economic cooperation./.

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