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EU to strengthen trade, investment relations with South-East Asia (2)


09:56, March 29, 2012

As planned, Commissioner De Gucht will meet with the economic and trade Ministers from the 10 ASEAN member states during the annual ASEAN Economic Ministers summit where he will discuss possibilities to enhance trade and investment relations between the EU and ASEAN.

He will also take part in individual meetings with his ASEAN colleagues to discuss bilateral trade issues.

In addition, the Business Summit will help promote dialogue between governments and the private sector as well as intensify business-to-business relations.

This year's events coincide with the 35th anniversary of the inception of official relations between the EU and ASEAN.

ASEAN represents the EU's 5th largest trading partner with 206 billion dollars of trade in goods and services.

The EU is ASEAN's 3rd largest trading partner after China and Japan, accounting for around 10.7 percent of ASEAN trade.

The EU is by far the largest investor in ASEAN countries, with EU companies accounting for an average of 20.6 percent FDI share during the period 2008-2010.

ASEAN consists of 10 member countries: Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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