Market approach Incoming mail Dear colleagues, The Asian economy's initially turbulent boom has undergone something of a coming of age: double-digit growth has been replaced by fast-paced even growth. Now is the time to consolidate our resources and expertise in the region. The knowledge that half the world has yet to make a telephone call, as pointed out on page 21 in our Telecom, Media Internet update, 'Opportunity calls', reflects the mixed messages we experience from global markets: on the one hand a burgeoning demand, and on the other a potential instability. This reality epitomises the need to seek sustainable financial relationships. Our participation in the World Business Council for Sustainable Development's Young Manager's Team and the Rabobank Development Program are part of our commitment to creating sustainable relationships in the development of markets. Naturally in our core market, F&A, we need to react swiftly to market developments. The recent 'F&A Days', also covered in this issue, is key in this respect. Read all about it in this issue of The Word. Rik van Slingelandt Chairman, Rl Ma naging Board In these pages you'll find a behind-the-scenes look at Rabobank's approach to developments in Asian markets and the sector and product opportunities present in India, Japan, China and the region as a whole. These are exciting times for Rabobank in Asia, presenting opportunities for our international clients to work with us in Asia as well. The Word

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