Wednesday, July 2, 2008

ADB road map to boost trade in Indonesia-Malaysia-Thailand-Growth triangle

KUALA LUMPUR, July 2 (Xinhua) -- The Asian Development Bank has come up with a four-year road map to boost trade among Indonesia, Malaysia and Thailand by 15 percent, Malaysian media reported on Wednesday.

The 2007-2011 road map was developed by the ADB and the Joint-Business Council of Indonesia-Malaysia-Thailand-Growth Triangle (IMT-GT).

It lines up some 111 projects worth 20 billion U.S. dollars for development by member countries.

"The road map basically lists projects all three countries have agreed to work together on and complements the national plan of all the countries," Joint Business Council (JBC) Malaysia chairman Faudzi Naim Noh told reporters in Kuala Lumpur on Tuesday.

Should the road map be fully implemented, IMT-GT nations would see a 10 percent increase in tourism and 11 percent increase in inter-trade, he said.

However, a major problem is the lack of awareness among businessmen of such projects, Faudzi said. Take-up for the projects has been moderate.

"We want to encourage small and medium businesses to approach the JBC and see how we can help them expand," the New Straits Times quoted Faudzi as saying.

Set up in 1995, the JBC is the official representative body for the IMT-GT business community.

JBC estimates that it has facilitated 3.8 billion U.S. dollars worth of projects between 1995-2005 in the IMT-GT.

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