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UK-ASEAN business council set up

The United Kingdom and the Association of Southeast Asian Nations (ASEAN) has launched the UK-ASEAN Business Council (UK-ABC) to further promote trade and investment between the two sides.
The United Kingdom and the Association of Southeast Asian Nations(ASEAN) has launched the UK-ASEAN Business Council (UK-ABC) to furtherpromote trade and investment between the two sides.

The councilwill be based in London and will work in partnership with the BritishChambers of Commerce across the ASEAN region to provide support for UKbusiness interests in the region, the ASEAN secretariat said on Nov.3.

The establishment of UK-ABC provides another avenue for UKbusinesses to explore, develop and deepen their business in ASEAN, itadded.

Addressing the launch ceremony, Vince Cable, UKSecretary of State for Business, Innovation and Skills, affirmed thatthe establishment of the UK-ASEAN Business Council would developbusiness operations, especially small and medium enterprises, andaccelerate them to involve ASEAN economic development.

The UKGovernment wants to see a major lift in all levels of trade with highgrowth markets – particularly in ASEAN – and expects the council todeliver benefits to leading UK companies seeking to enter or alreadyactive in the region, he said.

Sundram Pushpanathan, DeputySecretary-General of ASEAN for ASEAN Economic Community, welcomed theestablishment of the UK-ASEAN Business Council, making a commitment towork with it to create a better appreciation of the ASEAN EconomicCommunity (AEC) for UK businesses and to promote and facilitate tradeand investment between ASEAN and the UK .

According to ASEANstatistics, two-way trade between ASEAN and the UK stood at 28.34billion USD in 2010, up 23 percent year-on-year./.
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