Study to formulate 5-year plan for logistics in Asia

A transport and logistics study, which will be funded by Japan and will cost ca. US$400,000, will formulate a five-year plan for transport and logisitcs within ASEAN countries.

In January, the Asia Free Trade Area comes into force and the study is being viewed as a guide to help the development of ports, shipping fleets, integrated transport and logistics, and various other maritime concerns, according to a report in schednet.com.

The study will also focus on the need for co-operation among industry players under increased globalization and trade liberalization between 2002 and 2007.

ASEAN countries account for more than 30 per cent of port container traffic and a third of the region’s merchant fleet, with more than 200 international ports and 3,700 domestic terminals found within ASEAN countries.

The bloc has a combined population of 500 million, which is bigger than the European Union and North American Free Trade Area.