For the past thirty years, East Asia has been the most economically vibrant region. In 2005, sixteen countries that have stake in the economic well-being and development of the region decided to hold the East Asia Summit (EAS*) as a Leader-led forum for strategic dialogue on issues affecting the region. Collectively, the EAS has a total population of 3,315 million (50% of world population), a combined Gross Domestic Product (GDP) of US$ 14,127 billion (25% of world GDP), and commands 23.5% of global trade. The region is also fast growing with rising middle-class and greater opportunity for intra-regional trade that could surpass other regional groupings. However, the current global financial and economic crisis has impacted the region, especially on credit availability for trade finance.
At the EAS Foreign Ministers Informal Consultations in July 2009 in Phuket, Thailand as Chair of the EAS proposed to organise a workshop to address the issue of trade finance and discuss ways on how the EAS participating countries can work together to ensure steady flows of financing resources for intra-regional trade.
The Ministry of Foreign Affairs of Thailand in collaboration with the Thai Bankers’ Association and the Export-Import Bank of Thailand will organise the EAS Workshop on Trade Finance during 30 September — 2 October 2009 at Centara Grand and Bangkok Convention Centre at Central World. The Workshop, to be attended by representatives/experts from public and private sectors, World Bank, Asian Development Bank (ADB), Japan Bank for International Cooperation (JBIC), and Economic Research Institute for ASEAN and East Asia (ERIA), as well as other regional and international organisations, will discuss related policies undertaken and/or to be undertaken in the EAS participating countries to enhance trade financing in the region, with particular emphasis on Small and Medium Enterprises (SMEs). The recommendations obtained from the Workshop will be presented to the EAS Leaders at the 4th East Asia Summit in October 2009 in Cha-am Hua-Hin, Thailand.
- EAS participating countries comprise 10 ASEAN Member States, Australia, China, India, Japan, the Republic of Korea and New Zealand.
For further information, please contact the Press Division, Department of Information, Ministry of Foreign Affairs, Tel.02-6435170, Fax.02-6435169, E-mail: div0704@mfa.go.th