With a combined Growth Domestic Product of US$ 8 trillion, Asia and Middle East have the competitive advantage to generate a sustainable economic growth and development, Prime Minister Abhisit Vejjajiva said today.
He said the two regions hold more than 60 per cent of the world’s total international reserves and a combined sovereign wealth fund of over US$ 3 trillion.
Abhisit said the competitive advantage could be achieved if both regions evolve and strengthen their trade and investment partnership.
“Such complementary potential would bring about greater trade and business opportunities for our people,” he said when opening the two-day Asia Middle East Dialogue (AMED III) at the Queen Sirikit National Convention Center here.
He said Asia continued to be dynamic and stronger and it was also becoming the center of the world’s trade while the Middle East continued to be the source of power and driving force that moved forward the world’s economy and industry.
As the Doha Round remained in stalemate, he said the two regions could use each other as channels to gain more access to world markets and export their goods and products to other parts of the world.