ASEAN and Japan have agreed to complete the compilation of the 10 year ASEAN-Japan strategic plan to drive economic growth. Under the ASEAN-Japan Strategic Economic Cooperation Roadmap 2012-2022, the 10-year plan will aim to increase volume and value of trade in goods between ASEAN and Japan by focusing on promoting small and medium sized enterprises. It will increase cooperation in trade of goods, services and investment.

ASEAN, Japanese Economic Ministers met in April in Tokyo. (Photo: internet)

ASEAN and Japan will also increase cooperation on SMEs, science and technology, energy and energy reserves, farming and food security, logistics and transportation, telecommunication, education and human resource development, tourism and environment protection. Japan has also committed to help reduce the development gap among ASEAN countries and promote quality living in the region. The plan will be finalized within this month for signing by Asean and Japan's economic ministers. The roadmap will be divided into 2 phases with the first from now until 2016 and the second phase spans from 2017 to 2020. A representative from Thailand’s Ministry of trade said this is an important mechanism that creates impetus to boost development and economic cooperation between ASEAN and Japan and at the same time reflects the fine relationship between the two sides over the past 35 years.