ASEAN a symbol of shared property for world: Ambassador Phong

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Chairman ASEAN Committee Islamabad (ACI) Ambassador Nguyen Tien Phong on Sunday said that ASEAN is a symbol of shared property and economic development for the whole world including Pakistan, which is a catalyst in global economy and trade.

The Association of SouthEast Asian Nations (ASEAN) has established excellent economic and trade relations with the whole world, which is likely to improve further in the future, The Ambassador said. In an interview with APP here, he said that according to the vision of ASEAN, these economic relations are to further strengthen economic and trade integration in the world, from which the rest of the countries including Pakistan can also get benefits.

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 on told APP. 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.—APP

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