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ASEAN/China investment fund launched

Updated: 2004-03-21 10:34

Swiss President Joesph Deiss concluded an official visit to Thailand Friday evening after launching an ASEAN/China investment fund aiming at financing small- and medium-sized enterprises in Southeast Asia and China with US$125 million.

Switzerland was one of the initial investors in the US$125 million fund, along with the Asian Development Bank, French financial development institution proparco, the Japan Asia Investment Co and the United Overseas Bank of Singapore, the Thai News Agency reported Saturday.

The enterprises have attractive growth prospects and are engaged in intra-regional and inter-regional trade or investment activities, the report said.

During his three-day visit, President Deiss met and held talks with Thai Prime Minister Thaksin Shinawatra on issues of bilateral ties and cooperation between the two countries.

The Swiss leader also met with Ong Keng Yong, the secretary- general of the Association of Southeast Asian Nations (ASEAN), to discuss the AEAN-China Investment Fund.

President Deiss also met with Thai King Bhumibol Adulyadej at the Klaikangvol Palace in the country's upper southern province of Prachuap Khiri Khan Friday evening.

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