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The Idea of “East Asian Economic Community” from Business Perspective

The Idea of “East Asian Economic Community” from Business Perspective. APEC OFFICIAL SYMPOSIUM September 27, 2006 Kakutaro Kitashiro Chairman, KEIZAI DOYUKAI (Japan Association for Corporate Executives) Chairman of the Board, IBM Japan Ltd. AGENDA. Growing East Asia and Challenges

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The Idea of “East Asian Economic Community” from Business Perspective

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  1. The Idea of “East Asian Economic Community” from Business Perspective APECOFFICIALSYMPOSIUM September 27, 2006Kakutaro Kitashiro Chairman, KEIZAI DOYUKAI (Japan Association for Corporate Executives) Chairman of the Board, IBM Japan Ltd.

  2. AGENDA • Growing East Asia and Challenges • The Principles of East Asian Community • Recommendations to Realize the East Asian Community

  3. Growing East Asia and Challenges

  4. GDP Growth Rate Projection for 2015 The source : 2006 White Paper on International Economy and Trade

  5. GDP Growth in East Asia East Asia : (ASEAN10+Japan,China,Korea) *2 Calculation is based on the IMF World Economic Outlook Database. *3 METI, Trade and Industry 2006 White Paper on Internal Economy and Trade 2006,Figure 2-1-1. *4 *5 Prepared by the Mitsui Global Strategic Studies Institute(UNCTAD World Investment Report 2005)

  6. Intra-regional Trade Ratio ’93:Single Market completed ’87:Single European Act ’93:ASEAN CEPT ’94:NAFTA The source : 2005 White Paper on International Economy and Trade

  7. Japanese Trade Dependency on East Asia *7 Compiled by Mitsui Global Strategic Studies Institute based on data from IMF Direction of Trade Statistics, CD-ROM July 2006, and ADB Key Indicators of Developing Asia and Pacific Countries.

  8. GDP per Capita *8 Sources: “Global Economic Trends” edited by the Cabinet Office, Office of the Director General of Policy Coordination, and IMF World Economic Outlook. ** Based on the figure as of 1992 for Brunei.

  9. The World Competitiveness Factors Ranking Source: IMD WORLD COMPETITIVENESS YEARBOOK 2006

  10. Tariff Comparison The source : 2006 White Paper on International Economy and Trade

  11. Effect on Trade Promotion $191B The risk of political instability 4% Custom clearance Process 17% $148B Estimated Effect of Trade Facilitation Measures 56% Transparency*1 10% Streamlining of port operations 29% *1 : Enhance the transparency of customs clearance formalities The source : 2006 White Paper on International Economy and Trade

  12. The Principles of East Asian Community

  13. Various Functional and Regional Cooperation the Bali Regional Ministerial Meeting on Counter-Terrorism Japan, China and Korea Cooperation The Chiang Mai Initiative , The Asian Bond Market Initiative UKFrance GermanyCanada ＥＵ ASEAN + 3 ＰＮＧ Aus. NZ US 豪州　　ＮＺ North Korea Mongolia Indonesia Malaysia Philippines Singapore Thailand Brunei Vietnam Laos Myanmar Cambodia The East Asian summit ブルネイ　ベトナム　ラオス　ミャンマーカンボジア インドネシアマレーシア　フィリピン　　シンガポールタイ Japan China Korea 日　本　　　中　国　韓　国 Bangladesh Sri Lanka インド India Russia The Bali Process Pakistan ReCAAP ARF The Asian Bond Fund ASEAN The Source ： The Ministry of Foreign Affairs of Japan, Asian and Oceanian Affairs Bureau

  14. Approach to the East Asian Community • Road map for the realization of a　“community” • Share the common goal • One step at a time • Building equal partnerships • Expansion centering on the ASEAN • Realization of an open community • Creation of a disparity correction mechanism within East Asian region

  15. Objective and Basic Principles • Objective • Co-prosperity and co-existence within the East Asian region • Basic Principles • Democracy • Market economy • Basic human rights

  16. Basic Rules of the East Asian Community • Mutual cooperation • Non-intervention in other countries’ internalaffairs • Peaceful resolution of disputes • Renunciation of the use of military force • Correction of regional disparities • Equal partnerships

  17. Recommendations to Realize the East Asian Community

  18. Recommendations to Japanese Gov. • Early realization of heads of state summits between Japan and China/South Korea • Open the market for agricultural products, etc. for the facilitation of intra-regional FTAs/EPAs • Establish an East Asian Regional Development Fund • Launch a Council on the Promotion of the East Asian Community

  19. Workforce Training Public expenditure on education Promote Market Economy Maximize FDI through deregulation ODA and East Asian Regional Development Fund Commercial system within the region Corporate Social Responsibility in the local communities Innovation for Sustainable Growth in Asia Talent Key to Innovation Talent Investment Investment Infrastructure Infrastructure Council on Competitiveness,Innovate America (2004)

  20. Conclusion Co-prosperity and Co-existence within the East Asian region Japan: Four Recommendations East Asia: Innovation for Sustainable Growth

  21. Thank you

  22. Back up chart

  23. FDI to East Asia The source : JETRO White Paper on International Trade and Foreign Direct Investment 2006

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