ASEAN Private/Foreign-Industry Association Regional Efforts
As mentioned in the ASEAN-CCI section (Ch. 3, IIc), there are a number of ASEAN-third-country business councils designed to promote trade and investment between the two groups. In practice, however, these councils are fairly one-sided, with ASEAN seeking access to the developed country’s markets on the one side and greater foreign investment and technical assistance from the developed country on the other. Perhaps in consequence, these councils’ accomplishments to date are to be measured more in the number of meetings, conferences and seminars sponsored than in any tangible results achieved. Most could best be described as still being in the development stage, with both parties still learning and getting to know about the other.
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- 1.ASEAN and Japanese businessmen have been holding such joint meetings since 1974. For more details see David Sycip, ‘ASEAN—Japan Economic Co-operation’, Asia Pacific Community Quarterly Review, Spring 1981Google Scholar
- 4.For example, the Chairman of the AFC itself warned in 1981 that there has to be ‘a workable division of labour between the two organizations in order to avoid the possibility of duplication, competition or conflicts of interests’ (H. Omar Abdalla, ‘ASEAN Finance Corporation’, paper presented in Kuala Lumpur, 18 Nov 1981, p. 8).Google Scholar