E. Asian leaders confident ahead of summit<\/p>\n
MANILA (AP): Southeast Asian leaders, seeking to ensure
\neconomic recovery will gain momentum, arrived Saturday to endorse
\nstronger ties with their northeastern neighbors and efforts to
\npush their agenda with global organizations while making plans
\nfor the future.<\/p>\n
In a further upbeat note, Philippine President Joseph Estrada
\nsaid China had agreed to halt any further construction in
\ndisputed areas of the Spratly Islands in the South China Sea.<\/p>\n
The agreement, if confirmed by the Chinese, would represent a
\nmajor concession by Beijing. Chinese Premier Zhu Rongji is taking
\npart in the weekend summit as an invited guest.<\/p>\n
During informal talks over dinner Saturday night and during
\nthe annual Association of Southeast Asian Nations summit Sunday,
\nthey also will try to spark more structural reforms to fend off
\ndisasters like the financial crisis that plagued the region for
\ntwo years.<\/p>\n
With the worst of the crisis apparently over, officials are
\nfinally getting the opportunity to look to tomorrow, which raises
\na number of key questions, especially with China apparently
\nheaded for membership in the World Trade Organization and
\nbecoming even more of a target for foreign investors.<\/p>\n
\"How do you make ASEAN attractive?\" Philippine Trade Secretary
\nJose Pardo said. \"How do you keep the engines revving and moving
\nfaster?\"<\/p>\n
A key focus in meetings by senior officials in advance of the
\nsummit has been to increase cooperation with China, Japan and
\nKorea, possibly laying the groundwork for transforming ASEAN into
\na more powerful regional force.<\/p>\n
Premier Zhu, who flew in to Manila on Friday, said his talks
\nso far had been valuable in developing financial and economic
\ncooperation with other countries in the region, which he said was
\nvital to ensure there would not be another Asian economic crisis.<\/p>\n
\"The worst part of the crisis is over,\" Zhu said. But the
\nChinese leader added that Asian nations needed to continue
\neconomic reforms and improve financial regulation.<\/p>\n
\"If you don't deal with these issues, the possibility of a
\ncrisis recurring won't be completely removed,\" he said.<\/p>\n
Zhu provided some good news for ASEAN when he said there is no
\nneed to devalue the Chinese yuan. ASEAN officials have cited such
\na devaluation as one potential threat to the region's recovery.<\/p>\n
In addition, Japanese Prime Minister Keizo Obuchi will
\nannounce a new aid package on Sunday that Thai Foreign Minister
\nSurin Pitsuwan said would be worth about US$90 million and is in
\naddition to the $82 billion that it earlier pledged to Asian
\ncountries hit by the regional financial crisis that began two
\nyears ago.<\/p>\n
The package is aimed at boosting human resources through
\nexchanges of people, goods and information, officials said
\nSaturday. Obuchi also will announce a major fund for the World
\nBank and Asia Development Bank to tackle poverty, a Foreign
\nMinistry spokesman said.<\/p>\n
Thai Trade Minister Supachai Panitchpakdi said Saturday that
\nwealthy countries - especially the United States - must make
\nconcessions to developing nations if a new round of World Trade
\nOrganization negotiations is to succeed.<\/p>\n
But he also rejected calls by some developing nations for
\n\"wholesale renegotiations\" on implementing the last big global
\naccord, which they contend has failed to meet promises of equal
\nbenefits from trade between rich and poor countries.<\/p>\n
\"It would be a monumental task for the WTO to go back and
\nrenegotiate past agreements,\" Supachai said. \"It would not augur
\nwell for a new round.\"<\/p>\n
Security is tight for the summit, and there was a brief scare
\nFriday night when police, helped by bomb-sniffing dogs, seized a
\nbox containing about two kilograms (4.4 pounds) of suspected
\nfirecracker powder from a car entering the summit site. Security
\nofficials downplayed the incident and released the car's owner
\nafter questioning.<\/p>\n
Meanwhile, 30 people-power advocates were trying to make sure
\nSaturday that ASEAN leaders, who have been trumpeting their
\neconomic rebound, don't forget that poverty and human rights
\nabuses still abound in the region.<\/p>",
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