ASEAN, Japan discuss economic integration in Vietnam

The Federation of Japanese Chambers of Commerce and Industry in ASEAN held its sixth annual dialogue with the ASEAN secretary general in Vietnam's capital Hanoi on Friday to exchange views on trade and outline cooperation in tackling obstacles during economic integration. Addressing the event, both chairman of the Japanese Business Association in Vietnam, Motonobu Saoto, and chairman of the Japan External Trade Organization (JETRO), Hiroyuki Ishige, said the Association of Southeast Asian Nations (ASEAN) is developing dynamically, and contains abundant potential in economics and cooperation, Vietnam's state-run news agency VNA reported. The dialogue is an important, great opportunity for the leader of the association and Japanese investors to share information and experiences, while listening to each other's proposals to promote the development of ASEAN as well as Japanese businesses operating in the bloc in particular, they said. Vietnamese Deputy Minister of Industry and Trade Tran Tuan Anh said over the past years, Japan has been one of Vietnam's leading trade partners and largest investors. Japan has also given Vietnam significant support in various economic development fields, which have produced good results. At a press conference after the event, ASEAN Secretary General Le Luong Minh said following the previous five fruitful dialogues, this event aims to support businesses of the association in the direction towards the establishment of an ASEAN Community by 2015 and discuss way to deepen economic, trade and investment cooperation between ASEAN and Japan. The dialogue is a good mechanism to fully evaluate the implementation of measures included in comprehensive solutions heading to the setting up of the ASEAN Community and promoting the association's integration process and making economic cooperation between the bloc and Japan more effective, he said. During this year's dialogue, the Japanese businesses raised practical proposals on the approval of the comprehensive partnership between Japan and ASEAN, the settling of obstacles in the founding of ASEAN's manufacturing establishments, the agreement on the setting up of the ASEAN telecommunication network, the continuance of the implementation of a one-stop customs inspection, cooperation in infrastructure building and development along economic corridors and the issuance of passports for businesspeople in ASEAN. With a total GDP of 2.1 billion U.S. dollars, the 600 million- strong ASEAN with rich natural and labor resources has affirmed its increasing central role in regional and global economic architecture. Over the past years, despite global economic turmoil, the dynamic Southeast Asia region has continued flourishing and created many investment opportunities in various fields. The ASEAN groups 10 countries, including Singapore, Thailand, the Philippines, Brunei, Myanmar, Indonesia, Malaysia, Laos, Cambodia and Vietnam.