TNAG-1635-FCO40-2251-Overseas-visits-by-Sir-Geoffrey-Howe--Secretary-of-State-for-1988 — Page 11

3.

Economic

RESTRICTED

-

Achievements of ASEAN economies (in agriculture, agri-business, diversification in commodity production, manufacturing, electronics,

aviation, etc).

- ASEAN Co-operation highlighted at Manila Summit: new initiatives.

Practical achievements of EC/ASEAN dialogue and co-operation:

Drugs

Investment Committees

Exchange of views at dialogue meetings.

Closeness of views on GATT Round, resistance to protectionist pressures eg in agricultural trade; dealing with agricultural

surpluses.

Positive role of foreign investment. Progress at ASEAN Summit on policies encouraging investor confidence. Joint ventures. Western investment linked with intra-ASEAN investment. Build on strong

existing UK investment and technology transfer.

Move towards global market; illustrated by stock market movements. Role of Singapore in services and aspiration of other ASEAN countries to do more in invisibles sector. British strengths

in this area, role of City of London (Big Bang).

-

UK experience on privatisation, role of private sector in industrial growth and economic development.

SOUTH EAST ASIAN DEPARTMENT

DECEMBER 1987

PH2AIK