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   Commercial Cooperation

   The  present volume of trade between EC and ASEAN is of the order  of  42
   billion  ECU  (more  than 50 billion USD; 1992 figures),  2.2  times  the
   volume of trade of 5 years ago (1987) and three times the volume of trade
   of 1980 when the EC/ASEAN cooperation agreement was concluded.

   More recent figures show that ASEAN enjoys of a remarkable trade surplus:
   3.1 billion ECU in 1992, the triple of 1987.

   The EC ranks third among the trade partners of ASEAN, after Japan and the
   U.S. It covers 15.4% of ASEAN exports and 17.2% of ASEAN imports.

   ASEAN exports of manufactured goods to the EC increased from 23% in  1975
   to  a  present  59%  of  total exports.  Exports  of  ASEAN  textiles  in
   particular rose from 4% to 14% of total ASEAN exports to the EC while raw
   materials decreased from 36% to present 13%. More than one third of ASEAN
   exports to the EC enjoy tariff concessions under the EC/GSP Scheme.

   Between  1980  and  1991/92 import from  ASEAN  countries  of  electrical
   equipment, rose by 519%, manioc by 26% and palm oil by 123% (in value).

   Between 1990 and 1991, import of textiles and garments, rose by 37%  (3.1
   billion ECU in 1991).

   The  Community  and its Member States welcome the creation of  the  ASEAN
   Free  Trade  Area  (AFTA)  whic began last  January.  It  will  certainly
   contribute  to  enlarge and open the ASEAN internal  market  (intra-ASEAN
   trade  account for less than 20% of total ASEAN trade, and about hald  of
   that is Singapore entrep├┤t trade).

   The  economic  growth potential of the region once the  Free  Trade  Area
   among the nations of ASEAN will be completed is enormous. The progressive
   integration of the neighbouring countries economies such as Vietnam, Laos
   and Cambodia will increase further ASEAN's role in the world economy.

   Economic Cooperation

   In  recent  years, the EC and ASEAN have laid emphasis  on  securing  the
   active  participation of the private sector in order to  strenghthen  the
   EC's  presence in suth-east Asia and allow ASEAN countries  to  diversify
   their links and business in Europe.

   A  number  of initiatives have been taken to encourage  greater  European
   investments in the ASEAN countries.

   EC  investments  in ASEAN continue to growth during 80, but  declined  in
   relative  share, except in Singapore, as investments from  other  sources
   grew  more  rapidly.  (EC investment in ASEAN  are  concentrated  in  oil
   related activities, chemical, pharmaceutical, processed food,  electrical
   and electronic products, automobile, banking and finance).

   For the first time in 1993, the European Investment Bank (E.I.B.) is  due
   to  operate also in the ASEAN on ad hoc basis and or investment  projects
   of special interest to ASEAN and the EC.

   The   EC's  financial  facility  to  promote  joint  ventures,   the   EC
   International  Investment Partners (EC-IIP), is providing a stimulant  to
   European  investments  in ASEAN. This facility is particularly  aimed  at
   promoting joint ventures, between small and medium-sized companies.  Some
   20 projects involving companies in ASEAN are already in the pipeline.

   EC  ASEAN  Economic Cooperation Programme cover  various  sectors  (human
   resources - environment - agriculture and forest - energy - transport and
   communication  -  trade  and tourism - science and  technology).  On  the
   overall 84 million ECU (100 million USD) have been mobilised by the EC to
   carry out more than 50 regional projects in regard to ASEAN.

   In  1993, four important projects have been finalised for a total  amount
   of 7 MECU (8.4 million USD).

   -  improvement of Natural Resource conservation,
   -  ASEAN Air traffic control,
   -  ASEAN Tourism Training Projects.

   Development cooperation (regional)

   Development   cooperation  is  an  important  feature  of  the   EC-ASEAN
   relationship.  However,  the  largest part of EC  aid  will  continue  to
   finance  bilateral projects, specifically designed to meet the  needs  of
   individual countries.

   In  1992  alone,  the  EC  committed with regard  to  ASEAN  and  to  its
   individual member countries a total amount of 180 MECU (216 million USD),
   all under the form of grants.

   EC  aid to regional ASEAN projects to focuses on transfer of  technology,
   human  resources development and environmental protection; fight  against

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