|By ACN Newswire||
|December 17, 2012 03:12 AM EST||
Hong Kong, Dec 17, 2012 - (ACN Newswire) - Developing countries will continue to be Asia's "main driving force" in the coming year, with growth in those nations likely to expand by about 6.8 per cent, according to International Monetary Fund (IMF) Deputy Managing Director Zhu Min.
"For emerging Asia, we forecast a roughly 6.1 per cent GDP growth rate for this year, and we see even stronger growth for next year around 6.8 per cent," said Mr Zhu, adding that intra-regional trade and activities are behind the expansion.
"Asia is forming what I call a 'pan-Asia integrated vertical supply chain,' and grabbing more and more global areas into the supply chain," he said. "For example, you probably won't believe Brazil today belongs to this supply chain, Chile as well, and also some countries in Africa."
In his 10 December interview with the Hong Kong Trade Development Council (HKTDC), Mr Zhu also said such intra-regional trade and financial flows are likely to continue and "will be a very important driving force for the growth of the region in the next few years."
Watch the HKTDC video here http://youtu.be/FLZqRIogrpc
Attached is a full transcript of Zhu Min's HKTDC interview.
Mr Zhu will be a featured speaker at the sixth Asian Financial Forum (AFF), organised by the Hong Kong SAR Government and the HKTDC. The next AFF will take place in Hong Kong, 14-15 January 2013.
AFF Website: http://www.asianfinancialforum.com
Follow us on @AFF_HK
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com . Follow us on Twitter @HKTDC.
HKTDC Corporate Communication Department Joe Kainz Tel: +852 2584 4216 Email: [email protected]
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