ID :
84323
Tue, 10/13/2009 - 09:11
Auther :
Shortlink :
https://www.oananews.org//node/84323
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ASEAN DISCUSSES ECONOMIC COOPERATION WITH LATIN AMERICA
Jakarta, Oct 12 (ANTARA) - The Association of Southeast Asian Nations (ASEAN) is in talks with Latin American countries to establish economic cooperation.
The economic cooperation is a chance for the two regions to create greater market for each other's exports, ASEAN Deputy Secretary General for ASEAN Economic Community Sundram Pushpanathan said on Monday.
"The growing regions such as ASEAN and Latin America can benefit from this cooperation. Moreover, Asia and Latin America can quickly recover from the global financial and economic crisis," he said.
Two-way trade between ASEAN and Latin America reached US$18.37 billion in 2006 and increased 33.10 percent to US$24.07 billion in 2007, he said.
According to data, only five of 10 ASEAN member countries set up trade relations with Latin American countries in 2007. They were Singapore, Thailand, Malaysia, Indonesia and the Philippines.
"I believe this is an indication that there are still potentials which have not been taken advantage of by the two regions to conduct trade and investment. Therefore, we will prepare necessary steps to reduce disparities," he said.
He said only a few Latin American countries are well known by ASEAN member states. They include Chile, Mexico and Peru because they are APEC members.
"Right now we must think of what the two regions can do and we will make a road map particularly if we later cooperate with MERCOSUR (Latin American trade organization)," he said.
As of now, ASEAN countries exported agriculture, footwear and sugar products to Latin American countries. They received alcohol, fertilizer from their Latin American counterparts. ***2***
The economic cooperation is a chance for the two regions to create greater market for each other's exports, ASEAN Deputy Secretary General for ASEAN Economic Community Sundram Pushpanathan said on Monday.
"The growing regions such as ASEAN and Latin America can benefit from this cooperation. Moreover, Asia and Latin America can quickly recover from the global financial and economic crisis," he said.
Two-way trade between ASEAN and Latin America reached US$18.37 billion in 2006 and increased 33.10 percent to US$24.07 billion in 2007, he said.
According to data, only five of 10 ASEAN member countries set up trade relations with Latin American countries in 2007. They were Singapore, Thailand, Malaysia, Indonesia and the Philippines.
"I believe this is an indication that there are still potentials which have not been taken advantage of by the two regions to conduct trade and investment. Therefore, we will prepare necessary steps to reduce disparities," he said.
He said only a few Latin American countries are well known by ASEAN member states. They include Chile, Mexico and Peru because they are APEC members.
"Right now we must think of what the two regions can do and we will make a road map particularly if we later cooperate with MERCOSUR (Latin American trade organization)," he said.
As of now, ASEAN countries exported agriculture, footwear and sugar products to Latin American countries. They received alcohol, fertilizer from their Latin American counterparts. ***2***
