ASEAN economy has proven itself to be resilient, but there are lingering challenges and risks, including the sovereign debt crisis and fiscal problems in some developed markets, rising food and commodity prices, and continued financial market stresses.
The ASEAN Economic Ministers made the observation and reminder at the 43rd ASEAN Economic Ministers (AEM) meeting here on August 10 and 11, 2011.
According to the ASEAN secretariat’s press release received here yesterday, ASEAN’s recovery as a whole has matured as both exports and domestic demand fueled growth to expand by 7.5 per cent last year.
Intra-regional trade and investment flows also showed an upward momentum and are likely to support domestic growth this year, which is projected between 5.7 per cent and 6.4 per cent.
ASEAN`s merchandise trade grew at 32.9 per cent last year, as trade value jumped from USD 1.54 trillion in 2009 to USD 2.04 trillion last year, after the 19 per cent decline in 2009,” according to ASEAN`s high ranking officials as quoted by the secretariat.
Ads by Google Forex Trading Platform Free 50k Demo Account With News & Research, Live Phone Supportwww.Forex.com/ukFind Hotels in Manila? New Manila hotel deals everyday. Low rates guaranteed. Book now!Agoda.com/Manila_HotUrgent Stock Forecast Free Report: 5 Safe Stocks To Help You Grow Your Nest Egg.www.taipanpublishing
As an attractive foreign direct investment (FDI) destination, ASEAN has maintained its allure.
FDI into ASEAN reached USD 75.8 billion last year, doubling the 2009 level, and surpassing the pre-global crisis peak in 2007 of USD 75.7 billion.
Over the last ten years, FDI flows in ASEAN grew at an annual average rate of 19 per cent.
The week-long Economic Meetings in Manado this week also included the 25th ASEAN Free Trade Area (AFTA) Council and the 14th ASEAN Investment Area (AIA) Council Meetings, both held annually.
… contd. –http://www.indianexpress.com/news/ASEAN-economy-grows-by-7-5-per-cent/832635/
What They Say About Us
- Working through the ASEAN Trade Union Council (ATUC), a number of labor groups from Southeast Asia have proposed the ASEAN Social Charter, which they see …
- Labour rights do not feature prominently on ASEAN’s agenda, but the ASEAN Trade Union Council (ATUC) is pushing for a social charter and a framework for the protection of migrant workers.
- ASEAN22 : The ASEAN Social Charter was designed by the ASEAN Trade Union Council (ATUC) and labour-friendly NGOs as a social counterpart to ASEAN’s economic
c/o Trade Union Congress of the Philippines
No. 2 Kalaw-Ledesma Circle, Tierra Verde 2, Tandang Sora, Quezon City 1116