ASEAN symbol of shared economic development for world
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Islamabad, The Gulf Observer: Chairman of the Association of South East Asian Nation (ASEAN) Committee Islamabad Ambassador Nguyen Tien Phong said that ASEAN is a symbol of economic development for the whole world including Pakistan.
In an interview with state run media outlet, he said that the ASEAN has established excellent economic and trade relations with the whole world, which is likely to improve further in the future.
The 55th anniversary of this month will be made with the determination that ASEAN will play its full role for economic prosperity, trade integration to promote peace and harmony with the other regions of the world, Chairman Association of SouthEast Asian Nations (ASEANs) Committee Islamabad (ACI) and Ambassador of Vietnam to Pakistan, Nguyen Tien Phong said.
The Ambassador said that today the economic volume of the ASEAN countries has exceeded $3.3 trillion, which is likely to improve further in the near future. He said that Pakistan’s trade volume with ASEAN countries is $11 billion, which is much less than its current potential.
The Ambassador said that ASEAN’s economic growth could further accelerate to 5.0% in 2022. The ASEAN’s total merchandise trade reached USD 3.3 trillion in 2021, of which 21.3% was within the region, while services trade reached USD 743 billion with intra-ASEAN comprising 11.7%, he said.
Meanwhile, inflows of foreign direct investments to ASEAN reached USD 174.1 billion in 2021, 12.0% of which was among ASEAN Member States, he said.
