ASEAN battered but will survive, says official<\/p>\n
SYDNEY (Reuters): The Association of South East Asian Nations
\n(ASEAN) has been battered by the Asian crisis, but has rallied to
\npave the way for the region's economic recovery, a senior ASEAN
\nofficial said on Tuesday.<\/p>\n
Rodolfo Severino, secretary-general of the regional group,
\nsaid predictions ASEAN would disintegrate as its nine members
\nstruggled to cope with the financial crisis had proven baseless.<\/p>\n
\"At the beginning the media and observers predicted the
\ndisintegration of ASEAN...but the opposite has happened,\"
\nSeverino told reporters at the beginning of a three-day visit.<\/p>\n
\"At the beginning of the crisis the ASEAN image suffered a
\nblow, but I think this perception is being turned around now in
\narms of ASEAN's ability to work together and to begin a process
\nof recovery,\" Severino said.<\/p>\n
\"Instead of ASEAN being in disarray, the crisis has in fact
\nimpelled ASEAN to come together closer and strengthen its
\ncooperation and its integration,\" he said.<\/p>\n
\"It has become clear that in this globalizing economy nations
\nhave to coalesce into more integrated regions if they are to
\nsurvive and this is exactly what ASEAN has done.\"<\/p>\n
ASEAN comprises Brunei, Indonesia, Laos, Malaysia, Myanmar,
\nthe Philippines, Singapore, Thailand and Vietnam. Cambodia will
\nbe formally admitted as a full member on April 30.<\/p>\n
Severino said ASEAN had accelerated the formation of an Asian
\nFree Trade Zone (AFTA) by three years to 2000, when 90 percent of
\ntariffs would be cut to between zero to five percent.<\/p>\n
Some Asian nations, most notably Malaysia, have blamed
\ncurrency and stock market speculators for the financial crisis
\nthat has plunged the region into recession.<\/p>\n
ASEAN leaders agreed at their last summit in Hanoi in December
\nto commission a study into a common ASEAN currency.<\/p>\n
Severino said ASEAN was seriously studying aligning currencies
\nand that a common currency was now talked about.<\/p>\n
\"The idea of at least aligning the currencies of Southeast
\nAsia and probably East Asia is being seriously studied,\" he said.<\/p>\n
\"The idea of a single currency is further down the road, we
\nwould say much further down the road, but it has suddenly become
\nthinkable,\" Severino said.<\/p>\n
Severino said although ASEAN was seeking greater integration
\nof investment and financial affairs and the alignment of macro-
\neconomic policies, there was no talk of a common market.<\/p>\n
\"There are other forms of economic integration and one of them
\nis having a common external tariff, but that is not yet on the
\ncards -- a real common market,\" he said.<\/p>\n
\"We are not yet talking about that.\"<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asean-battered-but-will-survive-says-official-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }