Jetstar to make Changi Airport its largest hub in Asia
Changi Airport Group (CAG) and Jetstar signed an agreement today to launch a strategic partnership that will see Jetstar continue to make Singapore Changi Airport its largest air hub in Asia for both short and long haul operations. As part of the agreement, Jetstar will operate its highest number of services and base its largest number of A320-family aircraft in Asia at Changi. It also commits to introduce long haul services using wide body aircraft out of Singapore.
Under the three-year agreement, the Jetstar Group – which includes Jetstar in Australia and Jetstar Asia/ Valuair based in Singapore – is committed to increase existing flight frequencies and offer more destinations from Singapore.
Jetstar’s projected growth at Changi will include additional A320-family narrow body services and, for the first time, wide-body A330-200 medium and long haul flights to and from destinations in Asia and beyond. Jetstar also aims to grow the percentage of transit and transfer traffic through Changi among its passengers.
CAG will support Jetstar’s continued growth at Changi Airport with various incentives under the Changi Airport Growth Initiative which was introduced on 1 January 2010. The incentives will enable Jetstar to lower its cost of operations at Changi. It will also receive additional incentives for launching services to cities not currently connected to Changi. This will provide more offerings and new exciting destinations for passengers travelling via and out of Singapore.
As a partner, CAG will work closely with Jetstar to explore route opportunities to grow its traffic out of Changi. CAG will also support Jetstar’s operational needs, such as to improve its ground operations and to enhance the airport experience of its passengers, for example by introducing an early check-in option for Jetstar passengers travelling on the same day.
Growing at Changi, together
Welcoming CAG’s partnership with Jetstar, CAG Chief Executive Officer, Mr Lee Seow Hiang, said, “We are honoured that Jetstar has chosen Changi Airport to be its largest hub in Asia. We are committed to supporting Jetstar’s growth at Changi by helping it to grow traffic and to keep costs low. By hubbing at Changi, Jetstar will gain from inter-lining opportunities with the many airlines that fly here, including its parent, Qantas, which already uses Changi as an Asia hub.
“For Changi Airport, it will benefit from Jetstar’s increased number of flights and destinations, which will contribute to higher passenger traffic and a stronger connectivity network. And, importantly, this partnership is also beneficial for air travellers in the region who will enjoy a greater choice of low-fare travel options through Changi.”
Mr Lee added, “Our agreement with Jetstar signals CAG’s strong desire to work with our airline partners to grow the pie at Changi. We are ready to develop customised partnerships with airlines based on their business models and growth plans, whether they are full service or low cost carriers.”
Jetstar Chief Executive Officer Mr Bruce Buchanan said the new agreement would support significant growth opportunities for Jetstar and its networks linking Singapore.
“This agreement is most important to us and provides a platform for sustainable future growth throughout Asia,” Mr Buchanan said.
“Partnerships like this with Changi Airport Group allow us to invest in both existing and new flying markets and present opportunities from Singapore for us to drive growth.
“Singapore is of high strategic importance to Jetstar and equally of great importance to the Qantas Group. This agreement provides further leverage to us now seeking the full benefits of a burgeoning hub operation in Singapore.
“The clear operational advantages of Singapore as a hub and primary access point into Asia are clear and can now be further built upon as a result of this agreement.”
Jetstar, a pioneer in Asia’s low cost carrier sector, operates 408 flights each week to and from Changi, offering its passengers a varied menu of 23 destinations. Its future planned growth is supported by fleet expansion plans to beyond 100 aircraft by 2014/15.
Sunday, February 7, 2010
Friday, February 5, 2010
BEA Completes Sale and Purchase of BEA Canada and ICEA with ICBC
The Bank of East Asia, Limited (“BEA”) today announces that the agreements, which it reached with the Industrial and Commercial Bank of China Limited (“ICBC”) on 4th June, 2009 regarding the sale and purchase of The Bank of East Asia (Canada) (“BEA Canada”) and ICEA Finance Holdings Limited (“ICEA”) have been completed, following satisfaction of all pre-agreed conditions. BEA has completed the disposal of its 70% interest in BEA Canada to ICBC for a total consideration of CAD80,249,120 (equivalent to approximately HK$589.2 million). Meanwhile, BEA has also concluded its acquisition of ICBC’s remaining 75% shareholding in ICEA, for a total consideration of HK$372,154,045. The two transactions are inter-conditional, and with their completion today, ICEA immediately becomes a wholly-owned subsidiary of BEA, and BEA Canada ceases to be a subsidiary of the BEA Group. BEA and ICBC will continue to co-operate in the management and operation of BEA Canada and a shareholders agreement has been entered into between the three parties governing their respective rights and obligations. Commenting on the acquisition of ICEA, Dr. David K.P. Li, Chairman & Chief Executive of BEA, says: “We are pleased to welcome the customers, business partners, and staff of ICEA to the BEA Group. We look upon this acquisition as a prime opportunity to enlarge our customer base and to extend our market reach in the securities business. We are confident that with BEA’s expertise and resources to provide its customers with a broad range of financial services to cater for their diverse needs, ICEA will go from strength to strength.” ICEA was established in 1998 through the joint partnership between ICBC and BEA. The company principally engages in the provision of securities broking, underwriting, margin financing, and futures and options contracts dealing services.
Saturday, January 30, 2010
Siam Discovery unveils a Grand “Rediscovery” Plan Presenting over 1 billion baht - Three World-Class Magnets
Siam Piwat Company Limited, the owner of Siam Center and Siam Discovery, reveals a major renovation of Siam Discovery. Giving renewed vigor to its exceptional mix of new discoveries and true to its rank as “The Ultimate Lifestyle & Entertainment Shopping Complex,” Siam Discovery welcomes the world’s leading visitor attractions operator Merlin Entertainments to open “Madame Tussauds Bangkok”, the first of the famous and iconic wax figure tourist attractions in Southeast Asia. Merlin Entertainments is expected to make a total investment of over Baht 500 million (US$15m) on the 3,000 square meter attraction. Adding to the mix of new anchor tenants are “Ice Planet”, the state-of the-art ice-skating facility worth over Baht 180 million and a 1,500 square meter premium multi-purpose exhibition hall worth over Baht 50 million. In warming its welcome to these 3 new magnets, Siam Piwat is devoting another Baht 300 million to make over both inside and out, including in particular a façade destined to be an architectural landmark of Bangkok and introducing Thailand to its first application of ETFE, an advanced engineering phenomenon in construction materials. Renovation works is scheduled to start in March and is due for completion by October 2010.
Mrs. Chadatip Chutrakul, CEO of Siam Piwat reveals : “Siam Discovery was the first and the original lifestyle shopping & entertainment complex in Thailand. When it opened in 1997, the shopping complex offered a fresh mix of retail and services unrivalled with other shopping centers, encompassing a variety of exceptionally cutting-edge and unique brands both Thai and international which were not offered in the other shopping centers. Siam Discovery indulged the new generation of sophisticated urbanites with a strong streak of individuality and right from the start, Siam Discovery has always maintained its positioning as one of Bangkok’s most popular shopping destinations for locals and tourists alike.”
“Siam Discovery’s policy has always aimed to offer its customers the latest global trends and introduce them to new remarkable discoveries, whether in retail, lifestyle or entertainment. The Company therefore has been planning since the beginning of 2009 to give Siam Discovery a major renovation in order to be completed when the global economy is showing positive signs. Our plan includes not only the exterior façade and interior but also the signing of 3 new anchor tenants on floors 6-8 of Siam Discovery. The 3 World Class Magnets cover a total floor area of more than 8,000 square meters, establishing itself as a world-class entertainment destination,” added Mrs. Chadatip.
Siam Discovery presents 3 one-of-a-kind world-class magnets
Siam Discovery’s grand renovation includes the installation of three world-class magnet enterprises on its 6th to 8th floors, namely:
1. Madame Tussauds Bangkok, the original famous wax works tourist attraction debut in Southeast Asia
Merlin Entertainments, the world’s second largest visitor attraction operator, is investing Baht 500-million (US$15m) to create “Madame Tussauds Bangkok” on the 6th – 7th floors of Siam Discovery, covering an area over 3,000 sq.m. This will be the tenth Madame Tussauds in the world and the third in Asia, after Shanghai and Hong Kong. The ultimate celebrity experience and unlike any other tourist attraction with its amazingly lifelike wax figures displayed in a highly entertaining interactive style, Madame Tussauds Bangkok is expected to be the hottest new place to visit in the City. Most importantly, with no bars, ropes or barriers around the figures visitors will really feel like they are standing beside, or being photographed with their heroes.
The accent at “Madame Tussauds Bangkok” is on contemporary elegance, fun and inter-active entertainment for every visitor. At any given time it will house over 70 wax figures of international celebrities, from HRH Queen Elizabeth II, Barack Obama and Beyonce Knowles, along with such famous Thai figures such as Pancake - Khemanit Jamikorn and Sombat Metanee Building will start in March and Madame Tussauds Bangkok is expected to open in September 2010.
Mrs. Chadatip says : “We are absolutely thrilled to have been selected by a multi-national company such as Merlin Entertainments for this very considerable foreign investment which will bring over Baht 500 million to Thailand. The venture will also enable more Thais to find employment with real prospects, and significantly contribute to the country’s economic growth and tourism development. Not least, it will help ease liquidity in the Thai economy and reinforce the strength of Bangkok as a tourist destination and as well as the confidence in our country among foreign investors.”
Merlin Entertainments Midway Managing Director Glenn Earlam said: “We are delighted to be opening a Madame Tussauds in Bangkok which is such an exciting and vibrant location which gives us so much scope to create what I believe will be one of our best attractions ever. It will be a unique place, in a unique City.’
2. Ice Planet - the World Class Olympic standard & biggest rink in downtown Bangkok
Mr. Steven (Tanakorn) Kalayanamit, CEO of Ice Planet (Thailand) Company Limited reveals: “Our company has decided to invest over Baht 180 million in building a 2,000-sq.m. ice skating rink in the heart of Bangkok on the 8th floor of Siam Discovery with the goal of elevating the sport of ice skating in Thailand to international standards. This state-of-the-art rink will incorporate an array of cutting-edge technologies, including producing ice to the exacting Olympic standards, making the rink suitable for international competitions. We also plan to open Thailand’s first figure skating academy staffed by professional coaches from the USA, including a team member of the world famous “Disney On Ice”. Moreover, Ice Planet will coordinate with international and regional organizations and associations to quickly establish itself as the venue for international figure skating competitions and major tournaments.”
“In addition to its unsurpassed quality, Ice Planet is fantastically designed. Among its standout features are the way it modernizes Ice Skating. It will give a new experience to Ice Skating whether you are new or experienced with Ice Skating. The rink can also be transformed into a venue for hip events and cool parties.”
“Ice skating is making a great comeback in popularity all over the world these days, especially among youngsters who love the physical challenge and where they can also be expressive of their skills and imagination. Ice Planet target demographics extends from youngsters to career individuals seeking after work exercise and relaxation, and primarily family crowds to enjoy quality fun time with loved ones. Construction will begin in April this year and Ice Planet is expected to open in October 2010, just in time for the Thai mid-year semester break. We expect it to serve 1,000 ice-skaters on weekdays and 2,000 on weekends.”
3. Multi-Purpose Hall: the exclusive, premium venue in the heart of Bangkok
Another high-impact feature of the renovation of Siam Discovery is the Baht 50 million multi-purpose exhibition hall by Siam Piwat’s own investment covering a floor space of 1,500 square meters on floor 7th which will be managed by Royal Paragon Enterprise Company Limited.
Mr. Arun Teng, General Manager of Royal Paragon Enterprise Company Limited, explains: “The new Multi-purpose Hall aims to fill a gap in downtown Bangkok MICE facilities while also offering a different kind of venue for various functions. Event organizers are always looking for new spaces with fresh concepts and that’s where this Multi-purpose Hall comes in. Our target is organizers seeking to stage events with a unique style, combined with just the right amount of space, excellent functionality, design and all at a prime central location with excellent transportation links.”
“The design of the hall is sleek and stylish with a grand foyer and large windows accented by anelement of natural light during the day and stunning city views by night. The facility also features an outdoor terrace, allowing the venue to cater for events indoor and outdoor simultaneously.”
“Our prime targets are mostly organizers of lifestyle events such as fashion shows, art exhibitions, premium product launches, press conferences, international seminars & conferences, exclusive concerts and meet-and-greet activities with local and international artists.”
“From the success of Royal Paragon Hall, Siam Discovery’s Multi-purpose Hall will be managed and operated by the same team whose experience and growth continues to prosper to new heights. The new exhibition facility on 6A at Siam Discovery will be positioned as an exclusive venue and is expected to be ready for service in October 2010.”
Besides the thrill of three such promising new world-class anchor tenants, Siam Discovery is also adding to its star-studded retail mix in the manner of business as usual. Raising the share of F&B outlets to 20% to cater to the needs of the expected surge of heavy traffic of tourists and family target groups, Siam Discovery will be welcoming the first free-standing Marc by Marc Jacobs in Bangkok, the one and only flagship store. And last but not least, Loft the speciality store from Japan too is announcing an expansion plan and revealing a new total floor area of 2,000 square meters. The new Loft store is set to occupy floors 4 & 5 of Siam Discovery.
“Rediscovering” Siam Discovery as the new landmark on Bangkok’s ultimate shopping street.
Siam Piwat will be spending as much as Baht 300 million on the changes and decoration of the interior and the new façade feature, designs of which will be developed to strengthen Siam Discovery’s refreshed positioning and that of the new world-class anchor magnet. The 6th – 8th floors of Siam Discovery, measuring 8,000 square meters, will be revamped under the personal supervision of Mr. Duangrit Bunnag, Managing Director of Duangrit Boonnag Architects Limited.
At street level, the shopping center will be featuring a magnificent 8-floor installation of Thailand’s first ETFE-clad façade designed by Design 103 International Company Limited. ETFE is a material originally developed for use in the space industry by a German company “Vector Foiltec.” The plastic-like material does not degrade under Ultra-Violet light or atmospheric pollution, and at the same time, is anti-adhesive which means that it is self-cleaning under the action of rain. Architecturally, the material is outstanding for being unusually light-weight and has the exceptional light transmission properties, allowing designers to optimize the aesthetic and environmental performance of the building, creating structures of unusual lightness and elegance. Leading architects and engineers around the world have adopted ETFE as the choice for high profile mega projects ranging from the Olympic venue Beijing Water Cube to public spaces such as the Alliance Arena in Munich, Germany, to the BMW Welt. As the first application of ETFE in Thailand, Design 103’s piece is a sophisticated abstract of adjoining prism shapes equipped with a changing LED lighting embedded each structure enabling the structure to shift into a glowing wondrous landmark at night. With this new modern take to the façade, Siam Discovery is declaring itself as the new and brilliant Landmark of Bangkok in the heart of Thailand’s ultimate shopping destination.
Siam Discovery targets worldwide tourists and expands its customer base among Thai families
With its powerful combination of world class attractions, flagship stores and complete range of services, Siam Discovery is confident that it will be able to attract shoppers of all demographics and increase its customer base, particularly international tourists seeking to experience the celebrity of Madame Tussauds Bangkok, A-B family consumers seeking fashion and lifestyle brands, and youngsters seeking a fun time on ice.
Once the physical renovation is completed and the leasing plan materializes as planned, Siam Discovery is expecting a rise in footfall through the Shopping Complex by 20,000 or a 25% increase, comprised of 60% Thais and 40% foreign customers.
“This Grand renovation of Siam Discovery due to be completed in October 2010, will endorse Siam Discovery as the ultimate location allianced by World Class retail and Entertainment operators to propel Thailand’s economy towards higher level of prominence in Asia and the world,” concluded Mrs. Chadatip.
Mrs. Chadatip Chutrakul, CEO of Siam Piwat reveals : “Siam Discovery was the first and the original lifestyle shopping & entertainment complex in Thailand. When it opened in 1997, the shopping complex offered a fresh mix of retail and services unrivalled with other shopping centers, encompassing a variety of exceptionally cutting-edge and unique brands both Thai and international which were not offered in the other shopping centers. Siam Discovery indulged the new generation of sophisticated urbanites with a strong streak of individuality and right from the start, Siam Discovery has always maintained its positioning as one of Bangkok’s most popular shopping destinations for locals and tourists alike.”
“Siam Discovery’s policy has always aimed to offer its customers the latest global trends and introduce them to new remarkable discoveries, whether in retail, lifestyle or entertainment. The Company therefore has been planning since the beginning of 2009 to give Siam Discovery a major renovation in order to be completed when the global economy is showing positive signs. Our plan includes not only the exterior façade and interior but also the signing of 3 new anchor tenants on floors 6-8 of Siam Discovery. The 3 World Class Magnets cover a total floor area of more than 8,000 square meters, establishing itself as a world-class entertainment destination,” added Mrs. Chadatip.
Siam Discovery presents 3 one-of-a-kind world-class magnets
Siam Discovery’s grand renovation includes the installation of three world-class magnet enterprises on its 6th to 8th floors, namely:
1. Madame Tussauds Bangkok, the original famous wax works tourist attraction debut in Southeast Asia
Merlin Entertainments, the world’s second largest visitor attraction operator, is investing Baht 500-million (US$15m) to create “Madame Tussauds Bangkok” on the 6th – 7th floors of Siam Discovery, covering an area over 3,000 sq.m. This will be the tenth Madame Tussauds in the world and the third in Asia, after Shanghai and Hong Kong. The ultimate celebrity experience and unlike any other tourist attraction with its amazingly lifelike wax figures displayed in a highly entertaining interactive style, Madame Tussauds Bangkok is expected to be the hottest new place to visit in the City. Most importantly, with no bars, ropes or barriers around the figures visitors will really feel like they are standing beside, or being photographed with their heroes.
The accent at “Madame Tussauds Bangkok” is on contemporary elegance, fun and inter-active entertainment for every visitor. At any given time it will house over 70 wax figures of international celebrities, from HRH Queen Elizabeth II, Barack Obama and Beyonce Knowles, along with such famous Thai figures such as Pancake - Khemanit Jamikorn and Sombat Metanee Building will start in March and Madame Tussauds Bangkok is expected to open in September 2010.
Mrs. Chadatip says : “We are absolutely thrilled to have been selected by a multi-national company such as Merlin Entertainments for this very considerable foreign investment which will bring over Baht 500 million to Thailand. The venture will also enable more Thais to find employment with real prospects, and significantly contribute to the country’s economic growth and tourism development. Not least, it will help ease liquidity in the Thai economy and reinforce the strength of Bangkok as a tourist destination and as well as the confidence in our country among foreign investors.”
Merlin Entertainments Midway Managing Director Glenn Earlam said: “We are delighted to be opening a Madame Tussauds in Bangkok which is such an exciting and vibrant location which gives us so much scope to create what I believe will be one of our best attractions ever. It will be a unique place, in a unique City.’
2. Ice Planet - the World Class Olympic standard & biggest rink in downtown Bangkok
Mr. Steven (Tanakorn) Kalayanamit, CEO of Ice Planet (Thailand) Company Limited reveals: “Our company has decided to invest over Baht 180 million in building a 2,000-sq.m. ice skating rink in the heart of Bangkok on the 8th floor of Siam Discovery with the goal of elevating the sport of ice skating in Thailand to international standards. This state-of-the-art rink will incorporate an array of cutting-edge technologies, including producing ice to the exacting Olympic standards, making the rink suitable for international competitions. We also plan to open Thailand’s first figure skating academy staffed by professional coaches from the USA, including a team member of the world famous “Disney On Ice”. Moreover, Ice Planet will coordinate with international and regional organizations and associations to quickly establish itself as the venue for international figure skating competitions and major tournaments.”
“In addition to its unsurpassed quality, Ice Planet is fantastically designed. Among its standout features are the way it modernizes Ice Skating. It will give a new experience to Ice Skating whether you are new or experienced with Ice Skating. The rink can also be transformed into a venue for hip events and cool parties.”
“Ice skating is making a great comeback in popularity all over the world these days, especially among youngsters who love the physical challenge and where they can also be expressive of their skills and imagination. Ice Planet target demographics extends from youngsters to career individuals seeking after work exercise and relaxation, and primarily family crowds to enjoy quality fun time with loved ones. Construction will begin in April this year and Ice Planet is expected to open in October 2010, just in time for the Thai mid-year semester break. We expect it to serve 1,000 ice-skaters on weekdays and 2,000 on weekends.”
3. Multi-Purpose Hall: the exclusive, premium venue in the heart of Bangkok
Another high-impact feature of the renovation of Siam Discovery is the Baht 50 million multi-purpose exhibition hall by Siam Piwat’s own investment covering a floor space of 1,500 square meters on floor 7th which will be managed by Royal Paragon Enterprise Company Limited.
Mr. Arun Teng, General Manager of Royal Paragon Enterprise Company Limited, explains: “The new Multi-purpose Hall aims to fill a gap in downtown Bangkok MICE facilities while also offering a different kind of venue for various functions. Event organizers are always looking for new spaces with fresh concepts and that’s where this Multi-purpose Hall comes in. Our target is organizers seeking to stage events with a unique style, combined with just the right amount of space, excellent functionality, design and all at a prime central location with excellent transportation links.”
“The design of the hall is sleek and stylish with a grand foyer and large windows accented by anelement of natural light during the day and stunning city views by night. The facility also features an outdoor terrace, allowing the venue to cater for events indoor and outdoor simultaneously.”
“Our prime targets are mostly organizers of lifestyle events such as fashion shows, art exhibitions, premium product launches, press conferences, international seminars & conferences, exclusive concerts and meet-and-greet activities with local and international artists.”
“From the success of Royal Paragon Hall, Siam Discovery’s Multi-purpose Hall will be managed and operated by the same team whose experience and growth continues to prosper to new heights. The new exhibition facility on 6A at Siam Discovery will be positioned as an exclusive venue and is expected to be ready for service in October 2010.”
Besides the thrill of three such promising new world-class anchor tenants, Siam Discovery is also adding to its star-studded retail mix in the manner of business as usual. Raising the share of F&B outlets to 20% to cater to the needs of the expected surge of heavy traffic of tourists and family target groups, Siam Discovery will be welcoming the first free-standing Marc by Marc Jacobs in Bangkok, the one and only flagship store. And last but not least, Loft the speciality store from Japan too is announcing an expansion plan and revealing a new total floor area of 2,000 square meters. The new Loft store is set to occupy floors 4 & 5 of Siam Discovery.
“Rediscovering” Siam Discovery as the new landmark on Bangkok’s ultimate shopping street.
Siam Piwat will be spending as much as Baht 300 million on the changes and decoration of the interior and the new façade feature, designs of which will be developed to strengthen Siam Discovery’s refreshed positioning and that of the new world-class anchor magnet. The 6th – 8th floors of Siam Discovery, measuring 8,000 square meters, will be revamped under the personal supervision of Mr. Duangrit Bunnag, Managing Director of Duangrit Boonnag Architects Limited.
At street level, the shopping center will be featuring a magnificent 8-floor installation of Thailand’s first ETFE-clad façade designed by Design 103 International Company Limited. ETFE is a material originally developed for use in the space industry by a German company “Vector Foiltec.” The plastic-like material does not degrade under Ultra-Violet light or atmospheric pollution, and at the same time, is anti-adhesive which means that it is self-cleaning under the action of rain. Architecturally, the material is outstanding for being unusually light-weight and has the exceptional light transmission properties, allowing designers to optimize the aesthetic and environmental performance of the building, creating structures of unusual lightness and elegance. Leading architects and engineers around the world have adopted ETFE as the choice for high profile mega projects ranging from the Olympic venue Beijing Water Cube to public spaces such as the Alliance Arena in Munich, Germany, to the BMW Welt. As the first application of ETFE in Thailand, Design 103’s piece is a sophisticated abstract of adjoining prism shapes equipped with a changing LED lighting embedded each structure enabling the structure to shift into a glowing wondrous landmark at night. With this new modern take to the façade, Siam Discovery is declaring itself as the new and brilliant Landmark of Bangkok in the heart of Thailand’s ultimate shopping destination.
Siam Discovery targets worldwide tourists and expands its customer base among Thai families
With its powerful combination of world class attractions, flagship stores and complete range of services, Siam Discovery is confident that it will be able to attract shoppers of all demographics and increase its customer base, particularly international tourists seeking to experience the celebrity of Madame Tussauds Bangkok, A-B family consumers seeking fashion and lifestyle brands, and youngsters seeking a fun time on ice.
Once the physical renovation is completed and the leasing plan materializes as planned, Siam Discovery is expecting a rise in footfall through the Shopping Complex by 20,000 or a 25% increase, comprised of 60% Thais and 40% foreign customers.
“This Grand renovation of Siam Discovery due to be completed in October 2010, will endorse Siam Discovery as the ultimate location allianced by World Class retail and Entertainment operators to propel Thailand’s economy towards higher level of prominence in Asia and the world,” concluded Mrs. Chadatip.
Saturday, January 2, 2010
Asian Countries Agree to Pursue Treaty on Dry Ports to Promote Regional Integration
Transport Ministers Forum concludes first session at ESCAP in Bangkok
Transport ministers from across Asia have agreed to work on a treaty to promote the development of dry ports – inland transport and logistics hubs – to spur intraregional trade and growth.
The agreement came at the end of the first session of the Forum of Asian Ministers of Transport, which concluded today at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.
In the Bangkok Declaration on Transport Development in Asia, the ministers agreed to develop an intergovernmental agreement on dry ports to provide connectivity and integration of the Asian Highway and the Trans-Asian Railway networks, creating an international integrated intermodal transport and logistics system.
Under the auspices of ESCAP, countries in the region have already adopted two intergovernmental agreements - on the Asian Highway and the Trans-Asian Railway networks - to promote the development and standardization of 141,000 kilometers of roadways and 114,000 kilometers of railways, linking the continent with Europe and serving as arteries for international trade, especially for landlocked countries in the region.
Dry ports will play an important role in integrating modes of transport, reducing border crossing and transit delays, facilitating the use of energy-efficient and lower emission means of transport, and creating new clusters of economic growth and job creation in local areas.
The first session of the Forum brought together 27 countries in Asia. In his opening message on Monday, UN Secretary-General Ban Ki-moon stated that “enhanced regional connectivity is especially important” in addressing development issues.
In her opening address, Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of ESCAP, spoke of the vital role of the transport sector in providing physical connectivity required for promoting domestic demand and intraregional trade as new sources of growth.
“The economic crisis has shown that relying mainly on exports to western markets comes with inherent risks. Our region will need to diversify the drivers of growth. This must include strategies for promoting increased intra-regional trade and domestic consumption,” said Dr. Heyzer.
The Forum was created by member governments of ESCAP at their annual meeting last April. During the week-long session, delegates discussed issues pertaining to transport development in the region, including the implementation of the Busan Declaration on Transport Development in Asia and the Pacific, and the Regional Action Programme for Transport Development in Asia and the Pacific.
Transport ministers from across Asia have agreed to work on a treaty to promote the development of dry ports – inland transport and logistics hubs – to spur intraregional trade and growth.
The agreement came at the end of the first session of the Forum of Asian Ministers of Transport, which concluded today at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.
In the Bangkok Declaration on Transport Development in Asia, the ministers agreed to develop an intergovernmental agreement on dry ports to provide connectivity and integration of the Asian Highway and the Trans-Asian Railway networks, creating an international integrated intermodal transport and logistics system.
Under the auspices of ESCAP, countries in the region have already adopted two intergovernmental agreements - on the Asian Highway and the Trans-Asian Railway networks - to promote the development and standardization of 141,000 kilometers of roadways and 114,000 kilometers of railways, linking the continent with Europe and serving as arteries for international trade, especially for landlocked countries in the region.
Dry ports will play an important role in integrating modes of transport, reducing border crossing and transit delays, facilitating the use of energy-efficient and lower emission means of transport, and creating new clusters of economic growth and job creation in local areas.
The first session of the Forum brought together 27 countries in Asia. In his opening message on Monday, UN Secretary-General Ban Ki-moon stated that “enhanced regional connectivity is especially important” in addressing development issues.
In her opening address, Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of ESCAP, spoke of the vital role of the transport sector in providing physical connectivity required for promoting domestic demand and intraregional trade as new sources of growth.
“The economic crisis has shown that relying mainly on exports to western markets comes with inherent risks. Our region will need to diversify the drivers of growth. This must include strategies for promoting increased intra-regional trade and domestic consumption,” said Dr. Heyzer.
The Forum was created by member governments of ESCAP at their annual meeting last April. During the week-long session, delegates discussed issues pertaining to transport development in the region, including the implementation of the Busan Declaration on Transport Development in Asia and the Pacific, and the Regional Action Programme for Transport Development in Asia and the Pacific.
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