KUALA LUMPUR, Jan 22 -- ASEAN-Japan Centre (AJC) secretary-general, Masataka Fujita recently attended the High-Level Symposium on Intra-ASEAN Trade and Investment: ‘Enhancing Intra-ASEAN Trade and Investment for Cohesive and Responsive ASEAN Community’, in Hanoi, Viet Nam.
During the symposium, he shared views on the current situation of the intra-ASEAN trade and investment, with focus on growing ASEAN participation in the Global Value Chains (GVCs).
According to AJC in a statement, the symposium discussed three kinds of issues, namely removing institutional and policy barriers; moving up along GVCs; and, improving seamless logistics.
It was aimed at coming up with policy recommendations to be reported to Senior Economic Officials Meeting and ASEAN Economic Ministers’ Meeting in 2020 for further consideration.
Fujita emphasised that ASEAN Member States should participate in the GVCs as there was a positive relationship between the GVC participation and GDP per capita growth rate.
He further explained there was also a positive relation between GVC participation and volume of foreign direct investment.
Fujita also proposed the five policy points for the ASEAN Member States to gain access to GVCs, benefit from GVC participation and realise opportunities to upgrade in GVCs for the region’s further economic growth.
AJC is an intergovernmental organisation, established by ASEAN Member States and Japan in 1981, with objectives to promote trade, investment, tourism as well as people-to-people exchanges between ASEAN Member States and Japan.
-- BERNAMA
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