ASEAN, Japan reaffirm commitment to IMF bailout<\/p>\n
KUALA LUMPUR (Reuters): Leaders of the nine ASEAN nations and
\nJapan yesterday reaffirmed their support for IMF bailout schemes
\nand called for swift implementation of the Manila framework to
\nrestore regional financial stability.<\/p>\n
The call was contained in a joint statement following a
\nmeeting between Association of South East Asian Nations (ASEAN)
\nleaders and Japanese Prime Minister Ryutaro Hashimoto at an
\nannual ASEAN summit in Kuala Lumpur.<\/p>\n
\"We support the agreement reached among finance ministers on
\nthe swift implementation of the Manila Framework as a
\nconstructive step towards the promotion of the region's financial
\nstability,\" the statement said.<\/p>\n
The ASEAN members pledged to conduct structural reforms of
\ntheir financial sectors, while Japan promised continued aid
\nwithin existing frameworks such as the International Monetary
\nFund (IMF), World Bank and the Asian Development Bank (ADB).<\/p>\n
ASEAN comprises Brunei, Myanmar, Indonesia, Laos, Malaysia,
\nthe Philippines, Singapore, Thailand and Vietnam.<\/p>\n
The annual three-day ASEAN summit ending on Tuesday was also
\nbeing attended by Japan, China and South Korea, making it the
\nbiggest-ever meeting of only Asian leaders.<\/p>\n
In the joint statement, Japan also offered the bilateral
\ntransfer of technology and exchange of human resources.<\/p>\n
It said the nations were confident that ASEAN would continue
\nto be a dynamic region with strong economic fundamentals and the
\npotential for continued growth despite the current difficulties.<\/p>\n
The ASEAN nations thanked Japan for its contribution to
\nbailout packages orchestrated by the IMF, which amount to more
\nthan $100 billion for Thailand, Indonesia and South Korea.<\/p>\n
The statement also emphasized the need to strengthen the
\noverall relationships between the ASEAN nations and Japan,
\nincluding the need for frequent high-level talks among leaders to
\ndiscuss not only the economy but political and security issues.<\/p>\n
It welcomed ASEAN endeavors to achieve regional security, and
\nreconfirmed the need to strengthen cooperation within the ASEAN
\nRegional Forum (ARF).<\/p>\n
The nations also welcomed the progress of, and reconfirmed
\ncontinued support for, projects launched by the Korea Energy
\nDevelopment Organization (KEDO) aimed at promoting the peaceful
\nuse of atomic energy in North Korea.<\/p>\n
ASEAN and Japan also pledged to work jointly on global issues
\nsuch as preserving the environment, promoting the efficient use
\nof energy sources, strengthening measures to fight international
\nterrorism, and strengthening a \"south-south\" cooperation scheme
\nto share the experiences of ASEAN development with other
\ndeveloping nations.<\/p>\n
During the meeting, Hashimoto proposed several programs to
\nsupport ASEAN attempts to fight the current financial crises and
\npromote sustainable development.<\/p>\n
These included programs to exchange human resources, lower
\ninterest rates on Japanese loans, cooperate in cultivating mid-
\nsized and other supporting industries of the region, and
\nestablish a Japan-ASEAN round-table to exchange views on regional
\ndevelopment.<\/p>\n
It was the first joint statement between ASEAN and Japan since
\nthen-Japanese prime minister Takeo Fukuda visited the region in
\n1977.<\/p>",
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