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ASEAN-Japan Business Meeting

January, 2007

Background, Objectives and Outline

The 1st ASEAN-Japan Business Meeting (AJBM) was held in 1974 in Tokyo, Japan, on the initiative of Keizai Doyukai, one of the most influential economic organizations in Japan. Since then, as described in the separated sheet(Past Main Themes and Topics of AJBM), the AJBM has been held annually with the venue alternating between Japan and ASEAN countries: nine meetings in Tokyo, three in Kuala Lumpur, Singapore, Jakarta and Manila, two in Bangkok, one in Bali, Phuket, Brunei, Hanoi, Kyoto, Fukuoka, Nagoya, Kobe, Osaka respectively. From the 22nd AJBM on, the meeting will be held annually at rate of twice in ASEAN to once in Japan considering the increased ASEAN membership.

The AJBM will certainly play an increasingly important role in the years to come, enabling a positive and frank exchange of views between ASEAN and Japanese business persons. Discussions at the AJBM cover a wide range of topics such as economic perspective, intra-regional cooperation, investment, technology transfer, trade, capital, financial markets, individual businesses etc. Following the 32nd AJBM held in Jakarta, in November, 2006, the 33rd AJBM will be held in Tokyo from October, 2007.

For the past thirty two years, Keizai Doyukai has submitted to the Japanese government various proposals and suggestions which emerged from discussions at these meetings, and has done its best to ensure that these ideas be reflected in Japanese national economic policies, while the ASEAN counterparts have done the same to their governments. Thus, the AJBM has served to strengthen the close mutual relationship.

One of the noteworthy results of the AJBM is the establishment of the Japan ASEAN Investment Company (JAIC). Incorporated in November 1981, JAIC aims to play a role as a catalyst for industrialization in the ASEAN region. JAIC expanded their investment businesses under the initiative of Keizai Doyukai and rechristened itself "the Japan Asia Investment Company (JAIC)" in June 1991.

In order to cooperate with the ASEAN countries more positively and effectively, the Keizai Doyukai set up the Japan-ASEAN Cooperation Committee as one of its committees in 1979 and Mr. Kiichiro Kitaura, then Chairman of the Nomura Securities Co., Ltd., assumed the chairmanship. The name of committee was changed to Committee on Asia- Japan Relations in 1997. Mr. Toshitaka Hagiwara, Chairman of Komatsu Ltd., assumed its chairmanship in December 2006. Former chairmen include Mr. Hisamitsu Uetani, then Chairman of the Yamaichi Securities Co., Ltd., Mr. Shoji Umemura, then Chairman of the Nikko Securities Co., Ltd., Mr.Yoshitoki Chino, then Honorary Chairman of the Daiwa Securities Co., Ltd., Mr.Tatsuro Toyoda, then President of Toyota Motor Corporation, Mr. Tadasu Toba, then President of Ajinomoto Co., Inc., Mr. Yoshikazu Hanawa, then President, Nissan Motor Co., Ltd. , Mr. Akio Kosai, then President, Sumitomo Chemical Co., Ltd., Mr. Isao Kaneko, then President and CEO, Japan Airlines Co., Ltd., and Mr. Shoei Utsuda, President and CEO of Mitsui & Co., Ltd.

The Steering Committee for coordination of the AJBM, which consists of the representatives of the National Committees for the AJBM in ten ASEAN countries and Keizai Doyukai, was established in 1987 for the purpose of the continuity of the AJBM and of ensuring smooth operation and expansion of its activities. At present, Mr. Timothy Ong, Representative of Brunei National Committee, Executive Chairman of Asia Inc Forum, assumes the chairmanship while Mr. Takatoshi Hagiwara, Chairman of Committee on Asia-Japan relations, Keizai Doyukai, Chairman of Komatsu Ltd., takes the co-chairmanship of the Steering Committee.