ID :
48325
Sun, 03/01/2009 - 15:39
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http://m.oananews.org//node/48325
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ASEAN stands firm against protectionism; economic crisis fund increased
PHETCHABURI, March 1 (TNA) -- Government leaders of the 10 member countries of the Association of Southeast Asian Nations (ASEAN) on Sunday agreed to stand firm against protectionism to deal with the ongoing global financial crisis and to form a single market similar to the European Union.
ASEAN Chairman Abhisit Vejjajiva, the Thai premier and host of the three-day summit, said the regional response to its economic challenges gave a clear message to the world, one which he will carry to the upcoming G-20 meeting in Europe.
A statement released at the end of the three-day ASEAN summit, held in the Thai resort of Cha-am, said ASEAN leaders during the summit reaffirmed their determination to ensure the free flow of goods, services and investment, and facilitate the movement of business persons, professionals, talent and labour, and the freer flow of capital.
ASEAN members will monitor one another regarding protectionism in particular and strive to provide information of economic policies to extend the atmosphere of cooperation that has been affirmed.
The region’s leaders “agreed to stand firm against protectionism and to refrain from introducing and raising new barriers,” the ASEAN statement said, and “reaffirmed their commitment to implement measures adopted in the ASEAN Economic Community Blueprint which could create greater business opportunities in the region.”
The ASEAN Economic Community Blueprint calls for economic and some political and security integration by 2015, goals calling for forming a single market. However, adoption of a common currency for the region was not discussed.
Praising an agreement reached February 22 by ASEAN finance ministers and their counterparts from China, South Korea and Japan to raise their contributions to the pact’s anti-recession fund to US$120 billion from an initial US$80 billion, the statement said the region’s ministers were tasked to continue working with their plus-three counterparts to resolve remaining issues to bring the arrangement to reality as quickly as possible.
Last Sunday’s agreement was made in the Thai resort of Phuket. It also aims to improve short-term liquidity of member countries facing a liquidity crisis amid the world economic recession.
The leaders of the ASEAN nations were granted an audience with Their Majesties the King and Queen and Princess Maha Chakri Sarindhorn on Saturday at Klai Kangwol Palace in Prachuap Khiri Khan's Hua Hin district.
ASEAN comprises Brunei, Cambodia Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam who will contribute 20 per cent of the funds while the remaining 80 per cent will be provided by the plus-three countries, China, Japan and Korea.
Regarding the plan to establish a human rights body within the bloc, the Thai prime minister told a press conference after the summit ended that he expected it would be set up within this October.
The summit was held the first since the group signed ASEAN charter last December, making the bloc a legal entity. (TNA)
ASEAN Chairman Abhisit Vejjajiva, the Thai premier and host of the three-day summit, said the regional response to its economic challenges gave a clear message to the world, one which he will carry to the upcoming G-20 meeting in Europe.
A statement released at the end of the three-day ASEAN summit, held in the Thai resort of Cha-am, said ASEAN leaders during the summit reaffirmed their determination to ensure the free flow of goods, services and investment, and facilitate the movement of business persons, professionals, talent and labour, and the freer flow of capital.
ASEAN members will monitor one another regarding protectionism in particular and strive to provide information of economic policies to extend the atmosphere of cooperation that has been affirmed.
The region’s leaders “agreed to stand firm against protectionism and to refrain from introducing and raising new barriers,” the ASEAN statement said, and “reaffirmed their commitment to implement measures adopted in the ASEAN Economic Community Blueprint which could create greater business opportunities in the region.”
The ASEAN Economic Community Blueprint calls for economic and some political and security integration by 2015, goals calling for forming a single market. However, adoption of a common currency for the region was not discussed.
Praising an agreement reached February 22 by ASEAN finance ministers and their counterparts from China, South Korea and Japan to raise their contributions to the pact’s anti-recession fund to US$120 billion from an initial US$80 billion, the statement said the region’s ministers were tasked to continue working with their plus-three counterparts to resolve remaining issues to bring the arrangement to reality as quickly as possible.
Last Sunday’s agreement was made in the Thai resort of Phuket. It also aims to improve short-term liquidity of member countries facing a liquidity crisis amid the world economic recession.
The leaders of the ASEAN nations were granted an audience with Their Majesties the King and Queen and Princess Maha Chakri Sarindhorn on Saturday at Klai Kangwol Palace in Prachuap Khiri Khan's Hua Hin district.
ASEAN comprises Brunei, Cambodia Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam who will contribute 20 per cent of the funds while the remaining 80 per cent will be provided by the plus-three countries, China, Japan and Korea.
Regarding the plan to establish a human rights body within the bloc, the Thai prime minister told a press conference after the summit ended that he expected it would be set up within this October.
The summit was held the first since the group signed ASEAN charter last December, making the bloc a legal entity. (TNA)
