Japan warming to EAEC idea<\/p>\n
KUALA LUMPUR (AFP): Japan's Finance Minister Masayoshi
\nTakemura said here yesterday that Tokyo was warming to the idea
\nof a caucus for East Asians to confer on economic issues
\naffecting the region.<\/p>\n
\"The Japanese people are increasingly agreeing and supporting
\nthe idea of holding talks amongst East Asians on matters relating
\nto the region,\" a Japanese embassy official quoted Takemura as
\nsaying during talks with Malaysian Premier Mahathir Mohamad.<\/p>\n
Takemura said Japan appreciated the efforts made by the
\nAssociation of Southeast Asian Nations (ASEAN) to explain the
\nMahathir-mooted East Asian Economic Caucus concept to countries
\nwhich have negative views about it, among them the United States.<\/p>\n
Mahathir had in October last year told Japan coolly that the
\nEAEC could succeed even if Japan opted to stay out.<\/p>\n
His remarks were seen by analysts as a reflection of growing
\nimpatience with delays, largely caused by Japan's indecision for
\nfear of antagonizing the United States, which termed the caucus a
\nbudding trade bloc.<\/p>\n
ASEAN officials had admitted that the inclusion of Japan as
\none of the core members was crucial to the success of the EAEC,
\nenvisaged by Mahathir in December 1990 as a loose consultative
\nforum for East Asian economies.<\/p>\n
The caucus was earlier set to get underway by the end of 1994,
\ngrouping Japan, South Korea, China, Hong Kong, and ASEAN
\ncountries Malaysia, Brunei, Indonesia, the Philippines, Singapore
\nand Thailand.<\/p>\n
During separate talks with Deputy Premier Anwar Ibrahim
\nearlier yesterday, Takemura proposed that Japan and Malaysia
\njointly host an international conference for financial experts in
\nthe East Asian countries.<\/p>\n
Malaysia agreed in principle to host the conference in Kuala
\nLumpur within three months, said the secretary-general of the
\nfinance ministry, Clifford Herbert.<\/p>\n
Herbert, briefing reporters after the talks between Anwar and
\nTakemura, said Japan wanted to participate actively to help the
\nregion in technology and human resource development.<\/p>\n
\"Japan wants to seek the understanding of the US on the EAEC
\nand see the conference as a positive development towards the
\nEAEC,\" Herbert said.<\/p>\n
On liberalization of the finance sector, Anwar told Takemura
\nthat Malaysia, as a developing nation, could not be expected to
\nloosen up at the same pace as the developed world.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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