ASEAN meets to spur growth in backward areas<\/p>\n
DAVAO, Philippines (Reuter): Hard on the heels of the APEC
\nmeeting, Asia's commitment to trade cooperation took another step
\nforward yesterday when officials and businessmen from four
\nnations met to spur development of their backward areas.<\/p>\n
More than 1,000 delegates are attending the first business
\nconvention of the East ASEAN Growth Area (EAGA) in Davao on the
\nsouthern Philippine island of Mindanao.<\/p>\n
The EAGA unites Brunei, Indonesia, Malaysia and the
\nPhilippines in an effort to spread the benefits of development to
\nneglected areas.<\/p>\n
\"This set-up is a powerful stimulus to growth in the
\nregion,\" Herman Montenegro, president of the Philippine Chamber
\nof Commerce and Industry, said in a speech opening the
\nconference.<\/p>\n
\"The East ASEAN triangle will open windows of opportunity
\nfor the rapid development of the area.\"<\/p>\n
The EAGA was created to knock down barriers to trade and
\nbusiness links between Brunei, Mindanao, the Malaysian areas of
\nSabah, Sarawak and Labuan, and Indonesia's Maluku, Sulawesi and
\nKalimantan.<\/p>\n
All four countries in the EAGA are members of the
\nAssociation of Southeast Asian Nations (ASEAN), whose other
\nmembers are Thailand and Singapore.<\/p>\n
Officials and delegates said geography had largely hindered
\ndevelopment in these areas, which are close to each other but
\ndistant from their respective national capitals.<\/p>\n
They said businessmen and trade officials were forced to
\nseek permission from distant central governments before being
\nable to do deals with a neighboring island.<\/p>\n
\"Most of these areas were considered as backwaters,\"
\nFilipino industrialist Raymundo Segura, chairman of the
\nconvention's organizing committee, said in a speech.<\/p>\n
Miracle<\/p>\n
\"Today, united as a trade bloc, these areas are seen as the
\nnext economic miracle of the region,\" he said.<\/p>\n
Business delegations from the United States, Japan, Taiwan
\nand Australia are also taking part in the conference.<\/p>\n
Arriving in Davao to attend the meeting, Philippine
\nPresident Fidel Ramos said developments in the trade arena
\nvindicated his government's reformist policies.<\/p>\n
\"I am convinced more than ever that our economic reforms,
\nthe shift of our economy's direction from protection to
\ncompetitiveness, from restriction to liberalization, from
\nregulation to privatization are along the right track,\" Ramos
\nsaid.<\/p>\n
\"And for the sake of our people's well-being and welfare, we
\nwill ride this wave of cooperation now sweeping the economies of
\nthe Asia-Pacific region and of the world.\"<\/p>\n
Ramos was returning from Indonesia, where he attended the
\nAsia Pacific Economic Cooperation (APEC) summit which pledged to
\ncreate a free-trade area in the region by 2020.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asean-meets-to-spur-growth-in-backward-areas-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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