ASEAN growth 8avr2
The Association of Southeast Asian Nations, which held a summit over the weekend in Rangoon over the weekend, predicts the collective economy of its member countries will grow 3.5 percent to 4.0 percent this year.
"This is based on the projected recovery of the global economy, our sound domestic macroeconomic policies and ongoing structural reforms," the ASEAN members said in a concluding communiqué.
The members predicted that economic resurgence would be led by exports of electronic parts. Several U.S. computer companies now outsource their manufacturing to Singapore, Malaysia, Indonesia and other ASEAN countries.
ASEAN also includes the Philippines, Vietnam, Laos, Cambodia, Thailand, Brunei and Myanmar (Burma), which hosted the summit for the first time. Hawaii companies that do businesses in Southeast Asia include several Honolulu architectural firms that have designed office towers there.
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