ID :
203692
Fri, 08/26/2011 - 13:36
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http://m.oananews.org//node/203692
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ASEAN`s recovery matures
BANGKOK, August 26 (TNA) - The Secretariat of the Association of Southeast Asian Nations (ASEAN) says that ASEAN's recovery as a whole has matured, as both exports and domestic demand have fueled regional growth.
The ASEAN Secretariat acknowledged in a press release this week that the overall economy of the 10-nation bloc has proven itself to be resilient, but there are lingering challenges and risks, including the ongoing debt crisis and fiscal problems in some developed markets, rising food and commodity prices and lingering financial market stresses.
The ASEAN Secretariat reported that the whole ASEAN economy expanded by some 7.5 per cent last year, with overall merchandise trade growing by 32.9 per cent and total trade value jumping to 2.04 trillion US dollars, from 1.54 trillion US dollars in 2009, and foreign direct investment or FDI reaching 75.8 billion US dollars, doubling the 2009 level, and surpassing the pre-global crisis peak in 2007 of 75.7 billion US dollars.
According to the ASEAN Secretariat, FDI in ASEAN has expanded at an annual average rate of 19 per cent over the past decade.
The ASEAN Secretariat said that intra-regional trade and investment flows have also shown an upward momentum and are likely to further support regional growth this year, to expand by 5.7 per cent and 6.4 per cent respectively.(TNA)
The ASEAN Secretariat acknowledged in a press release this week that the overall economy of the 10-nation bloc has proven itself to be resilient, but there are lingering challenges and risks, including the ongoing debt crisis and fiscal problems in some developed markets, rising food and commodity prices and lingering financial market stresses.
The ASEAN Secretariat reported that the whole ASEAN economy expanded by some 7.5 per cent last year, with overall merchandise trade growing by 32.9 per cent and total trade value jumping to 2.04 trillion US dollars, from 1.54 trillion US dollars in 2009, and foreign direct investment or FDI reaching 75.8 billion US dollars, doubling the 2009 level, and surpassing the pre-global crisis peak in 2007 of 75.7 billion US dollars.
According to the ASEAN Secretariat, FDI in ASEAN has expanded at an annual average rate of 19 per cent over the past decade.
The ASEAN Secretariat said that intra-regional trade and investment flows have also shown an upward momentum and are likely to further support regional growth this year, to expand by 5.7 per cent and 6.4 per cent respectively.(TNA)
