DTN: 2011 ASEAN econ to grow 5.7-6.4%

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BANGKOK, 19 August 2011  – The 43rd Meeting of ASEAN Economic Ministers (AEM) in Indonesia has expected that the ASEAN economy will grow by 5.7-6.4% this year, according to the Department of Trade Negotiation (DTN). 

Speaking about the AEM’s meeting held last week, DTN Director-General Srirat Rastapana elaborated that the meeting evaluated ASEAN’s economic conditions and found that the economic growth rate of the region stood at 17.5% while trade in ASEAN alone grew by 32.9% for both imports and exports.

Foreign investment flows in ASEAN doubled to 75-76 billion US dollars last year. The AEM hence projected the regional economic growth should be around 5.7-6.4%, which reflected ASEAN’s development of its potentials and readiness to be a single community.

The director-general noted that two countries will be invited to join the ASEAN Summit in November 2011, including the US and Russia. She said the participation of both countries will help promote ASEAN as an important centre for cooperation and business in the global economy.

The 43rd AEM Meeting was held from 10 to 11 August 2011 in Manado, Indonesia.