ASEAN to Send Investment Missions to the US and Europe

ASEAN Secretariat, Jakarta, 14 Apr – The Association of Southeast Asian Nations is in the final stages of preparations to send top-level investment missions to the United States and Europe – two of the biggest sources of foreign direct investment in the ASEAN region. The investment drive in the U.S. will be held from 15 to 20 of May to be followed by the European campaign from 22 to 26 of the same month.

The ASEAN investment missions are part of ASEAN's efforts to inform the international community of investment opportunities in Southeast Asia - now on the road to full recovery from the financial crisis. The recently released World Economic Outlook by the International Monetary Fund forecasts an economic growth of 6.2% in 2000 for Asia, excluding Japan. ASEAN economies are expected to grow by an average of 5%.

In the U.S., investment seminars will be held in New York, Minneapolis, and San Jose, while in Europe, the ASEAN mission is scheduled to hold business meetings in London, Paris and Munich.

The seminars will focus on business opportunities and incentives provided under several regional schemes, such as ASEAN Investment Area (AIA), ASEAN Free Trade Area (AFTA), and the ASEAN Industrial Cooperation Scheme (AICO).

The ASEAN delegation to the United States will be led by Singapore Trade Minister George Yeo, while Minister Abhisit Vejjajiva of Thailand will lead the ASEAN team going to Europe. They will be accompanied by representatives of investment agencies of all ASEAN member countries, namely, Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

The investment missions to the United States and Europe would complete the round of ASEAN's global campaign, which started in Japan in February this year.