ASEAN economic ministers agree to enhance centrality in regional economic
ASEAN economic ministers agree to enhance centrality in regional economic
09:11, March 02, 2010 
Email | Print | Subscribe | Comments | Forum 
The ASEAN Economic Ministers (AEM) have agreed to exert more effort towards enhancing ASEAN Centrality in the light of the evolving regional economic architecture in the East Asia/Asia-Pacific region, a statement issued by ASEAN Secretariat said on Monday.
The Ministers, during the 16th AEM Retreat on Sunday, emphasized that it was important that the integration of ASEAN must continue in a timely manner in order for ASEAN to play a central role in shaping the regional economic architecture.
"ASEAN has earned the place to play a central role in the evolving regional architecture by virtue of not only being the hub in economic integration initiatives in the region but also by being able to provide the platform for political and economic dialogue and engagement among major global players," said Dr Surin Pitsuwan, the Secretary-General of ASEAN in the statement.
Despite this recognition, however, "ASEAN cannot afford to be complacent," Dr Surin added.
The Ministers have therefore agreed on specific steps to promote ASEAN centrality, including institutionalizing regional consultations and coordination in regional and international fora, such as the Asia-Pacific Economic Cooperation (APEC), the Asia- Europe Meeting (ASEM) and the World Trade Organization (WTO).
At their Retreat, the Ministers also reviewed the ASEAN integration process in order to ensure that it was on track towards realizing the ASEAN Economic Community (AEC) by 2015. The Ministers tracked the progress made in the various areas especially in the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN Framework Agreement in Services (AFAS) and the ASEAN Comprehensive Agreement in Investments (ACIA).
ASEAN is one of the most dynamic regions in the world. If ASEAN were a single economic entity, it would rank as the world's tenth largest economy, the third biggest market in the world in terms of population, the fifth largest trading bloc and the tenth in terms of FDI inflows.
Bolstered by sound macro-economic fundamentals and the measures ASEAN Member States have taken, the region was able to emerge from the global financial crisis stronger with a keen desire to realize the AEC and to realize the benefits of the various free trade arrangements it has entered into with its major trading partners.
Source: Xinhua
The Ministers, during the 16th AEM Retreat on Sunday, emphasized that it was important that the integration of ASEAN must continue in a timely manner in order for ASEAN to play a central role in shaping the regional economic architecture.
"ASEAN has earned the place to play a central role in the evolving regional architecture by virtue of not only being the hub in economic integration initiatives in the region but also by being able to provide the platform for political and economic dialogue and engagement among major global players," said Dr Surin Pitsuwan, the Secretary-General of ASEAN in the statement.
Despite this recognition, however, "ASEAN cannot afford to be complacent," Dr Surin added.
The Ministers have therefore agreed on specific steps to promote ASEAN centrality, including institutionalizing regional consultations and coordination in regional and international fora, such as the Asia-Pacific Economic Cooperation (APEC), the Asia- Europe Meeting (ASEM) and the World Trade Organization (WTO).
At their Retreat, the Ministers also reviewed the ASEAN integration process in order to ensure that it was on track towards realizing the ASEAN Economic Community (AEC) by 2015. The Ministers tracked the progress made in the various areas especially in the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN Framework Agreement in Services (AFAS) and the ASEAN Comprehensive Agreement in Investments (ACIA).
ASEAN is one of the most dynamic regions in the world. If ASEAN were a single economic entity, it would rank as the world's tenth largest economy, the third biggest market in the world in terms of population, the fifth largest trading bloc and the tenth in terms of FDI inflows.
Bolstered by sound macro-economic fundamentals and the measures ASEAN Member States have taken, the region was able to emerge from the global financial crisis stronger with a keen desire to realize the AEC and to realize the benefits of the various free trade arrangements it has entered into with its major trading partners.
Source: Xinhua
Related Reading
Special Coverage
Major headlines
Editor's Pick
Most Popular
Hot Forum Dicussion
