The first East Asia Investment Forum took place on August 24 in Kuala Lumpur, Malaysia, a side event of the 47th ASEAN Economic Ministers’ Meeting (AEM) and related meetings.

EABC Member Azman Hashim

Organised by the East Asia Business Council (EABC) and China Council for the Promotion of International Trade (CCPIT), the forum brought together more than 200 policymakers and business executives from Southeast Asia, China, Japan and the Republic of Korea (RoK).

In his welcome remarks, EABC Member Azman Hashim said developed economies are undergoing recovery at different paces while emerging markets are facing a period of slower growth. To some extent, economic growth remains quite good in East Asia with regional cooperation expansion still in progress.

Developing countries in the region will grow at moderate rates this year and continue to be key forces driving the global economy, he forecast.

East Asian nations are significant to the world economy as they account for 48 percent of the global population, 27 percent of the global GDP and 30 percent of the global trade, the EABC member stressed.

China, Japan and the RoK are among biggest trade partners of ASEAN, he noted, adding that the 13 East Asian countries has huge potential for development in the future thanks to geographical closeness with great cultural connectivity.

During the forum, delegates focused their discussion on opportunities and challenges to regional investment mechanisms and proposed ways to improve these mechanisms for better trade liberalisation.

They also shared investment opportunities in ASEAN countries, China, the RoK and Japan and discussed impacts of the Regional Comprehensive Economic Partnership (RCEP) on regional investments.

(Source: VNA)