‘Asean market en route to fourth ranking by 2030’

Bright outlook: Vasantharajan (red tie) and Ho (right) arriving for the conference in Butterworth, Penang.

BY 2030, Asean is set to become the fourth largest single market in the world after the European Union, United States and China.

Malaysian Indian Chamber of Commerce and Industry (MICCI) Penang president Datuk N. Vasantharajan said the forecast growth was revealed by economic experts.

He said they were dealing with a growing market of 620 million people and the third largest combined Gross Domestic Product (GDP) of USD2.5tril (RM9.4tril) in 2014.

“These are exciting and challenging times for Asean, especially for the young people.

“We expect the GDP to reach US$4tril (RM15tril) by 2020,” he said during the Asean 2015 Integration Conference at Light Hotel.

The recent conference themed ‘Our Future: A People-Centred Community and Doing Business in Asean’ was organised by MICCI Penang.

Some 600 participants from various international Chambers of Commerce took part in the conference comprising eight workshops.

Present to launch the conference was Ho Quang Trung, the director of marketing of Integration Directorate Asean secretariat Jakarta.

He was representing Asean secretary-general Le Luong Minh.

Event manager Raaj Ganesh said all the workshops went smoothly during the conference.

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Business , Northern Region , asean , micci


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