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Joint Statement of the 1st ASEAN-ROK Business Council

10 December 2014 - We, the 11 representative economic/business organizations and business people of ASEAN and the ROK, convened the 1st ASEAN-ROK Business Council Meeting in Busan, Korea, on the 10th of December 2014 in association with the 2014 ASEAN-ROK Commemorative Summit and exchanged views on cooperation between ASEAN and the ROK.

At the council meeting, we reached the following understanding:

  • The ASEAN-ROK Business Council will explore ways to capitalize on the ASEAN-Korea FTA and cooperate on resolving issues that serve as obstacles to business activities and the expansion of SMEs from ASEAN to Korea and vice-versa. In particular, the Council will make concerted efforts to utilize the ASEAN-Korea FTA to the fullest, with the aim of strengthening the competitiveness and growth of SMEs.

  • The ASEAN-ROK Business Council will help facilitate cooperation among SMEs of the ROK and ASEAN for the expansion of public infrastructure that will serve as a foundation for sustainable growth. The Council will also ensure that these efforts will lead to the expansion of cooperation and advancement of SMEs into ASEAN and Korea.

  • The ASEAN-ROK Business Council will cooperate to support the globalization and promotion of SMEs of ASEAN and the ROK. To this end, the Council will make an effort to share relevant policies and jointly develop and implement programs to support the globalization of SMEs to facilitate exchange among the business communities in ASEAN and Korea.

  • The ASEAN-ROK Business Council will work together on synergistic areas of economic and business cooperation. To this end, the Council will make endeavors to develop research programs led by economic and business management experts from the two economies and share the results in future cooperative projects.

  • The ASEAN-ROK Business Council will fully cooperate with inter-governmental consultative bodies of the two economies. The discussions and results of council meetings will be reported at the Korea-ASEAN government meetings for consideration on the feasibility of implementation.

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