The ASEAN-EU cooperation in various fields was reviewed during the Eleventh Meeting of the ASEAN-EU Joint Cooperation Committee at Davao City on 21-22 January 1994. Both sides agreed to consolidate, deepen and diversify the areas of cooperation, The Meeting noted the progress made with regard to the four points raised by ASEAN at the 9th ASEAN-EC Ministerial Meeting, namely : trade consultations, industrial cooperation, financing from the European Investment Bank, and participation in certain science and technology R & D programmes.

The three JCC sub-committees on trade, economic and industrial cooperation, narcotics, and working group on science and technology met prior to the 11th JCC to advance cooperation on a number of initiatives. The Sub-Committees on Trade examined the trade flows between ASEAN and EU, discussed market access problems on both sides, the EU GSP Scheme and intellectual property rights, among others. At the Sub-Committee on Economic and Industrial Cooperation, the EU briefed ASEAN on the completion of the Single European Market, and trends and policies concerning growth and employment in the European economy, as well as their implications for economic and industrial cooperation between the EU and ASEAN.

The promotion of European direct investments into ASEAN received a boost with the launching of the EC International Investment Partner (EC-IIP) scheme which has contributed to the undertaking of joint ventures from the private sector. Up to the end of 1993, 136 projects were approved under the scheme in the ASEAN region involving 14 million ECU. The approval of European Investment Bank's operations in Asia and Latin America, with loan facilities of ECU 750 million, for a three-year period is a welcome development in ASEAN-EC relations. At the Davao City meeting. the Financing Agreement for the ASEAN-EC Management Center was signed on 21 January 1994 by Mr. Juan Prat, Director-General for North-South Relations of the

Directorate General for External Relations of the EC Commission, and Dato' Paduka Haji Mohd Adnan bin Buntar, Director-General of ASEAN Brunei Darussalam. The Center was established to develop public administration and business management capabilities for both the public and private sectors in the region. The Center is expected to become fully operational within the year.

Meanwhile ASEAN has submitted to the EU, the ASC-approved project on the establishment of a regional centre on biodiversity conservation. The EU Commission has commenced consideration of the proposal.

The ASEAN Macroeconomic Outlook (AMO) project is now in its third and final year. The AMO project alms at developing the capability of the ASEAN Secretariat in providing regular and up- to-date regional economic forecasts through an ASEAN inter-linked model. A roundtable discussion of the ASEAN Macroeconomic Outlook: 1994-1995 was held at the ASEAN Secretariat in March 1994 prior to its publication. Transfer of technology and expertise from the Philippine Institute for Development Studies, which served as the project consultant, and the ASEAN Secretariat is now underway.

Linkages between the private sectors of ASEAN and EU are being strengthened through measures such as the establishment of European Business Information Service (BIS) Centers in ASEAN capitals. ASEAN and EU have agreed on the need to enhance the participation of the private sector in defining priorities for cooperation. The EU is exploring means of mobilizing individual companies and business associations to participate in its programmes and to engage in dialogues with the ASEAN private sector. In particular, the EU has supported the strengthening of the European Chambers of Commerce in ASEAN to provide information on the European Single Market and undertake regular business promotion activities between the EU and ASEAN. Other activities include the expansion of existing data- bases and the establishment of linkages between European databases and ASEAN users.

Science and technology continues to be a priority area of cooperation in ASEAN-EU relations. A substantially expanded Fourth Framework Programme (1994-1995) is envisaged. The participation of ASEAN scientists in various in-house collaborations in R & D in science and technology which have immediate commercial and environmental applications has been proposed. Other priorities include cooperation on environment and sustainable development, drugs and narcotics control, promotion of small and medium scale enterprises, strategic and high technology, and energy development.