APR News

A forum on "Transforming Investment in Brunei Darussalam through ACIA” to create awareness and understanding of the ASEAN Comprehensive Investment Agreement (ACIA) among investors and businesses was conducted in Brunei Darussalam on May 6, 2015. The forum participants included the government, private sector representatives, as well as representatives from ASEAN-BAC and APEC-BAC of Brunei Darussalam, Chamber of Commerce and the media.

The forum discussion focused on the salient features of ACIA and its potential benefits to Brunei Darussalam and the region, as well as the experiences of investors in Brunei Darussalam and ASEAN. The Forum was followed by a more in-depth seminar on ACIA for government officials of Brunei Darussalam.

This is the fourth forum to promote the ACIA, with the previous three being held in Kuala Lumpur in March 2013, Manila in January 2014, and Jakarta in April 2015.

Press-release at the official ASEAN web-site

IMF released the Regional Economic Outlook for Asia and Pacific. The economic outlook for Asia and Pacific is stable and robust, with growth expected to hold steady at 5.6 percent in 2015, easing slightly to 5.5 percent in 2016, according to the report.

Although Asia will remain the global growth leader, vulnerabilities associated with increased domestic and foreign debt are rising. Potential growth is likely to slow, reflecting weaker productivity gains, and the effects of aging populations and infrastructure bottlenecks in some countries.

The report finds that monetary and fiscal policy settings are broadly appropriate, but boosting resilience and potential growth remain top priorities, with structural reforms continuing to play a big role. The report also explores Asia’s role in global value chains and the factors affecting financial integration within Asia.

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The 13th Meeting of the ASEAN-Russia Joint Cooperation Committee (ARJCC) took place at the ASEAN Secretariat in Jakarta on April 29th, 2015 and was co-chaired by Dato' Hasnudin Hamzah, Permanent Representative of Malaysia to ASEAN and Mikhail Galuzin, Ambassador of the Russian Federation to Indonesia and ASEAN.

ASEAN and Russia reviewed the implementation of the Comprehensive Programme of Action to Promote Cooperation for 2005-2015 (CPA) which will expire at the end of 2015 and discussed the finalization of a new ASEAN-Russia document which would further enhance cooperation for mutual benefit.

The participants also discussed developments in such areas as political security; economy; sociocultural sphere; science and technology; and connectivity emphasizing the importance of economic cooperation. In this context they discussed perspectives for building stronger people-to-people ties between the ASEAN and Russia business communities. In this regard, the Meeting took note of Russia's proposal to hold an ASEAN-Russia Business Summit on the margins of the 27th ASEAN Summit in Kuala Lumpur this November.

While reviewing the ASEAN-Russian Federation Dialogue Partnership Financial Fund (ARDPFF), ASEAN and Russia agreed to work together to streamline and simplify the appraisal, approval, financing and reporting of the joint projects funded by the ARDPFF.

Both sides adopted several joint ASEAN-Russia projects such as Promoting of ASEAN-Russia Cooperation in Food Science and Technology; the Russian Language Course for ASEAN Tour Operators; and Energy Dialogue between ASEAN and Russia on Renewable Energy and Clean Energy Technologies.

Press-release at the official ASEAN web-site

The APEC Policy Partnership on Women and the Economy meeting was held in Port Moresby, Papua New Guinea on May 3-4, 2015. The participants of the meeting discussed new plans and projects that empower more women to be part of supply chains and provide women with access to technology, health services, finance and marketing and finalized a strategic plan which will chart efforts of the 21 APEC member economies to promote women's economic empowerment.

The meeting is in line with one of the Philippines APEC presidency priorities on cultivating an APEC-wide women’s entrepreneurship network to drive women-led business growth in the region.

Press-release at the official APEC web-site

26th ASEAN Summit was held in Kuala Lumpur and Langkawi on 26-27 April 2015. The summit discussion focused on the Malaysia's ASEAN presidency priorities, including: to formally establish the ASEAN Community; to develop the ASEAN Community's post-2015 vision; to steer ASEAN closer to its peoples; to strengthen the development of SMEs in the region; to expand intra-ASEAN trade and investments; to strengthen ASEAN's institutions; to promote regional peace and security through moderation; and to enhance ASEAN's role as a global player.

The summit concluded with the adoption of the Chairman’s Statement, Kuala Lumpur Declaration on a People-Oriented, People-Centred ASEAN, Langkawi Declaration on the Global Movement of Moderates and Declaration on Institutionalising the Resilience of ASEAN and its Communities and Peoples to Disasters and Climate Change.

Source: www.asean.org

Deputy Prime Minister of the Russian Federation Arkady Dvorkovich and Secretary-General of ASEAN Le Luong Minh discussed strengthening the economic ties between Russia and ASEAN during their meeting on April 20, 2015.

Le Luong Minh briefed Arkady Dvorkovich on the progress in the ASEAN Community building programme and expressed appreciation for Russia's support to ASEAN in realising this vision.

Arkady Dvorkovich stated that Russia considers ASEAN as an important partner and acknowledged the enormous economic potential to be gained from this partnership. He further informed Secretary-General of ASEAN of the Eurasia Economic Commission's desire to work with ASEAN to increase trade and investment flows between the two regions.
Arkady Dvorkovich and Le Luong Minh exchanged views on a number of regional and international issues of common interest, including the recent developments in the Shanghai Cooperation Organisation (SCO) as well as the forthcoming SCO Summit in July 2015 in Ufa, Russia. Arkady Dvorkovich informed Le Luong Minh of Russia's intention to hold an inaugural Eastern Economic Forum in Vladivostok in August 2015 and extended an invitation for Secretary-General to participate in this event.

ASEAN and Russia will commemorate the 20th Anniversary of their Dialogue Relations in 2016, and the celebrations will include a commemorative ASEAN-Russia Summit.

Press-release at the ASEAN web-site

Mongolia expressed its strong interest in strengthening relations with ASEAN. This message was conveyed by the Foreign Minister of Mongolia, H.E. Lundeg Puresuven, during his meeting on April 20, 2015 with Secretary-General of ASEAN, H.E. Le Luong Minh.

Minister Puresuvan said Mongolia sees ASEAN as a key regional mechanism for cooperation in Asia. He underscored that Mongolia will continue its active engagement in the ASEAN Regional Forum (ARF) process, which the country joined in 1999.

SG Minh advised Mongolia to explore with ASEAN avenues and opportunities to enhance practical cooperation in areas of mutual interest.
Minister Puresuvan briefed SG Minh on Mongolia's preparations to host the 11th Asia-Europe (ASEM) Summit in July 2016 in Ulaanbaatar.

The World Economic Forum announced its selection of Global Growth Companies (GGCs) regional finalists for East Asia.

GGCs are fast-growing companies with the potential to become global economic leaders. The nominated companies represent a broad cross-section of industry sectors and share a track record of exceeding industry standards in revenue growth, promotion of innovative business practices and demonstration of leadership in corporate citizenship.

A Forum and Seminar to socialise the ASEAN Comprehensive Investment Agreement (ACIA) was held on 15-16 April in Jakarta, Indonesia. More than 100 participants from the government, private sector, chambers of commerce and the general public attended the forum. This was the third of the series to socialise the ACIA after being held in Kuala Lumpur, Malaysia in March 2013 and in Manila, Philippines in January 2014.

China and ASEAN reaffirm commitment to forge closer cooperation at the 16th Meeting of the ASEAN-China Joint Cooperation Committee (JCC) held in Jakarta on 10 April 2015.