Will ASEAN become the world's 4th largest economy?

(Baonghean.vn)- Philippine Ambassador to Russia Carlos Sorreta said on August 8 that ASEAN hopes to become the world's fourth largest economy by 2030, while emphasizing the importance of this bloc in ensuring regional peace and stability.

The 50th ASEAN Foreign Ministers' Meeting was held in Manila. Photo: AP

Speaking at a reception to celebrate the 50th anniversary of ASEAN, Mr. Sorreta said: “As an economic community, ASEAN, with a population of over 629 million, is currently the third largest market in the world after China and India. In terms of GDP, we are also the seventh largest in the world and the third largest in Asia. It is predicted that we will be the fourth largest economy in the world by 2030.”

According to Ambassador Sorreta, ASEAN has a role in ensuring peace and prosperity for the Southeast Asian region and goes beyond the ASEAN countries. Ambassador Sorreta stated:

“In the 50 years since our founding, we have transformed the region. Where once disagreements divided us, we now leverage our differences to create strength. Where once competition dominated, we now dominate together. Where once outside forces shaped our future, we now chart our own path.”

The official also stressed that it is an honor for the Philippines to serve as the rotating chair of ASEAN in this landmark year, and assured that the organization will continue to work for regional peace and stability, promote progressive growth, and promote ASEAN as a model of localism. Mr. Sorreta also welcomed the support of foreign partners for ASEAN.

ASEAN was established in 1967 with five members: Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, Brunei, Vietnam, Laos, Cambodia and Myanmar have joined the organization. ASEAN strives to promote regional cooperation in economic, social, cultural and other fields, as well as promote regional peace and security./.

Lan Ha

(According to Sputnik)