ASEAN members should increase investments

ASEAN`s new Secretary General, Le Luong Minh, is keen to increase regional trade from 2013 to 2017.

"ASEAN members should increase investments, capital, labour, goods and services to meet the challenges of today`s world," said Le Luong on Wednesday.

He said ASEAN has been regulating free trade areas since 2010, allowing member states to trade goods without incurring export and import taxes.

In 2012, trade among the ASEAN member states had increased to 5.4 percent.

The volume of trade increased last year because of the abolition of import and export taxes among ASEAN`s member states.

"An increase in the volume of trade will have a positive impact on each country’s economy," he said.

Therefore, Le added that every member state of the ASEAN should have good bilateral and regional ties to improve its individual economy.

To achieve this, ASEAN’s member states should build upon social and cultural values pertaining to South East Asia.

"In general, ASEAN should ensure that all the member countries abide by the following values: harmony, cooperation and unity," he said.

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