S'pore, Thai want earlier end date for AEC<\/p>\n
Agence France-Presse, Singapore<\/p>\n
The Singapore and Thai prime ministers said on Saturday they will
\npush for an earlier end date for the establishment of an ASEAN
\nEconomic Community (AEC) during an ASEAN summit in Bali next
\nmonth.<\/p>\n
Singapore Prime Minister Goh Chok Tong and Thai Prime Minister
\nThaksin Shinawatra said the original target of 2020 is too far,
\nespecially with Asian giants China and India moving to complete a
\nweb of trade arrangements with their neighbors within a decade.<\/p>\n
"Both of us felt that 2020 is too long a time for us to
\nachieve this idea of a community," Goh said at a joint news
\nconference on the second day of the Thai leader's official visit
\nhere.<\/p>\n
"Why is it too long? Because China and India and the others
\nare moving too quickly. So we want to see whether we can advance
\nthe end date," Goh said.<\/p>\n
The Association of Southeast Asian Nations (ASEAN) has
\nembarked on negotiations to forge comprehensive economic
\npartnerships with China and India, including elements of a free-
\ntrade agreement (FTA), by 2012 or earlier.<\/p>\n
The 10-nation regional bloc launched an ASEAN Free Trade Area
\n(AFTA) this year under which tariffs have been brought down to
\nbetween zero and five percent for ASEAN's more developed members.<\/p>\n
ASEAN leaders, however, want ASEAN to go beyond removing
\ntariffs to creating a community where there is a free movement of
\ngoods, services, investments and capital.<\/p>\n
The vision also includes a European Union-style integrated
\nASEAN market to be able to compete with China and India, which
\nare now drawing the bulk of global investment flow into Asia.<\/p>\n
Goh declined to give a new target date for the AEC, saying the
\nproposal will be mooted during an ASEAN leaders' summit in the
\nIndonesian island of Bali next month.<\/p>\n
Moving the original target date earlier than 2020 is "subject
\nto the agreement of the other ASEAN leaders," he said.<\/p>\n
ASEAN, which groups Brunei, Cambodia, Indonesia, Laos,
\nMalaysia, Myanmar, the Philippines, Singapore, Thailand and
\nVietnam, makes decisions on the basis of consensus.<\/p>\n
But on a bilateral basis, Thailand and Singapore will continue
\nto "move ahead in areas where we can" cooperate, Goh added.<\/p>\n
Thaksin said that despite the economic downturn, Singapore can
\njoin Thailand to be a "pathfinder" for the AEC.<\/p>\n
"We would like to see the cooperation moving faster," said
\nThaksin, who arrived in Singapore on Friday.<\/p>\n
Goh said a stronger Singapore-Thailand economic cooperation
\ncould create a bandwagon in ASEAN and speed up the realization of
\nthe AEC.<\/p>\n
Both leaders said they also discussed other issues, including
\nthe continuing threat of terrorism and financial cooperation.<\/p>\n
Thaksin said Thailand was not seeking the extradition of a
\nsuspected Islamic militant detained in Singapore but noted that
\nthere are other ways by which the two countries can cooperate to
\nfight terrorists.<\/p>",
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