From the land of the ELEPHANTS…to the land of the ASIAN TIGERS!
2007 Business & Trade Mission to Southeast Asia
Singapore, Kuala Lumpur and Thailand
September 21-October 3, 2007
Mission Itinerary (12 days)
| Travel days |
Why Southeast Asia?
A business mission to Southeast Asia – Singapore, Kuala Lumpur and Bangkok- would provide a timely look at these economies following the slow-down in the late 1990’s. It is a region that is growing and will continue to grow in the future.
Singapore’s strategic location on major sea lanes and industrious population has given the country an economic importance in Southeast Asia inconsistent to its small size. The country has seen rising growth rates in the past couple of years, with real growth at 6.4% in 2005, which was largely driven by the growth in world electronics demand and in the economies of its major trading partners, the U.S., EU, China, and Japan. Singapore’s largely corruption-free government, skilled work force, and advanced and efficient infrastructure have attracted investments from more than 7,000 multinational corporations from the United States, Japan, and Europe. Foreign firms are found in almost all sectors of the economy. Singapore has twice been the destination of Trade Alliance missions; first in 1994 with a business and delegation, followed by an ISM in 1998. Washington State is Singapore’s 3rd largest trading partner in the U.S. with over $2.3 million in exports in 2006.
Malaysia, for centuries, has profited from its location at a crossroads of trade between the East and West. Geographically blessed, peninsular Malaysia stretches the length of the Strait of Malacca, one of the most economically and politically important shipping lanes in the world. Capitalizing on its location, Malaysia has been able to transform its economy from an agriculture and mining base in the early 1970s to a high-tech competitive nation, where services and manufacturing now account for 80% of GDP. The Malaysian economy grew 5.2% in 2005. GDP growth for 2006 is expected to be 5.8 %. Washington State is the country’s 5th largest trading partner in the U.S. after California, Texas, Oregon and Arizona. The Trade Alliance visited Kuala Lumpur in 1994 and has since then hosted the Minister of International Trade and Industry 3 times and other various business delegations.
Even though Thailand and the U.S. have not yet agreed upon a Free Trade Agreement, The two countries have enjoyed a special commercial relationship for more than 160 years under the Treaty of Amity and Economic Relations. Under the treaty, with the exception of a few sectors, U.S. companies operating in Thailand are afforded national treatment, or an “equal playing field” with Thai companies, a privilege offered to no other trading partner’s companies. Washington State is Thailand’s 2nd largest trading partner in the U.S. after California, with exports of over $1million in the year 2006. The growth rate for 2006 was 4.8%. This visit will be the first time the Trade Alliance has been to Thailand, though we have hosted many inbound business delegations in the past.
For information on registration or the trip agenda, please contact “A” Boungjaktha at 206-389-7289 or by email at [email protected]
