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ASEAN eyes speed up of economic integration

ASEAN eyes speed up of economic integration

A meeting of Southeast Asian nations agreed yesterday to speed up economic integration in a bid to weather the global financial crisis, but delivered no firm measures.
The economic ministers of the 10-member Association of Southeast Asian Nations (ASEAN) discussed strategies to boost trade, according to Cambodian Commerce Minister Cham Prasidh, without making any policy announcements.
"In the face of this kind of situation we have to try our best to integrate the economies of ASEAN faster than before," he told reporters in the country's northwest tourist hub of Siem Reap.
Boost trade
Surin Pitsuwan, Secretary-General of ASEAN, said ministers agreed on further engagement between the "private sector and ASEAN economic community" which could include direct financing by the regional body.
On Sunday ASEAN countries with key dialogue partners China, Japan and South Korea formally agreed in Indonesia a US$120-billion emergency currency-swap fund to ease the region through the economic crisis.


Updated : 2021-08-03 00:43 GMT+08:00