ASEAN worried about strong yen<\/p>\n
VANCOUVER (Reuter): ASEAN foreign ministers urged Canada on
\nThursday to voice concern about the dollar's recent slide against
\nthe yen at next month's Group of Seven summit.<\/p>\n
Canadian Foreign Minister Andre Ouellet hosted his
\ncounterparts from the six-nation Association of Southeast Asian
\nNations (ASEAN) for three days of consultations.<\/p>\n
The meetings, which Canada said were the first of their kind
\nbetween a G-7 host and an outside group like ASEAN, come before
\nthe G-7 summit in Halifax, Nova Scotia, June 15-17.<\/p>\n
"When the value of yen was raised upward, then we developing
\ncountries which are so dependent on yen credit... were landed
\nwith a terrible debt burden," Malaysian Foreign Minister Datuk
\nAbdullah bin Haji Ahmad Badawi told reporters after the meeting
\nin Vancouver.<\/p>\n
"We certainly reflect great concern that the decisions of G-7
\ncan affect us adversely," Badawi said.<\/p>\n
ASEAN groups Singapore, Brunei, Indonesia, Malaysia, the
\nPhilippines and Thailand. Vietnam will join in July.<\/p>\n
The G-7 summit will bring together leaders from Japan,
\nGermany, the United States, France, Italy, Britain and Canada.
\nEuropean Union and Russian officials will also attend.<\/p>\n
"These consultations provide me...with valuable insights into
\nthe views of ASEAN and its members as Canada prepares for the
\nHalifax summit," Ouellet told reporters.<\/p>\n
In a statement, Badawi said ASEAN countries urged the G-7
\nsummit to foster stronger global economic growth and to ensure
\nthat a financial crisis like the one recently experienced by
\nMexico is not repeated.<\/p>\n
The talks covered issues including reform of international
\nfinancial institutions like the World Bank, the future of the
\nUnited Nations, global trade, the information superhighway,
\npoverty and development, Bosnia and international crime.<\/p>\n
Badawi said the ASEAN ministers urged the G-7 to be "more
\ncautious" about linking trade to human rights, political reform
\nor other conditions. For example, Badawi said ASEAN has sought
\n"constructive engagement" with Myanmar and has seen improvements
\nthere.<\/p>\n
"We are looking forward to including Myanmar one day as a
\nmember of ASEAN," he said.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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