ASEAN countries come back from economic crisis
Wednesday 10th November, 2010
Big News Network.com Wednesday 10th November, 2010
The OECD has confirmed the six major ASEAN countries have rebounded from the global economic crisis.
The Organisation for Economic Cooperation and Development has said in its 2010 Southeast Asian Economic Outlook that average expected growth of 7.3 per cent this year, and six per cent over the next five years, gives Southeast Asian countries the opportunity to define new development objectives.
Vietnam is expected to post the highest average growth rate in the 2011-2015 period at 7.1 per cent, followed by Indonesia with 6.6 per cent, Malaysia 5.5 per cent, Thailand 5.2 per cent, Singapore 4.7 per cent, and the Philippines 4.6 per cent.
The OECD has encouraged Asian countries to diversify their exports and rethink past growth strategies.