ASEAN finance ministers to meet here Saturday

JAKARTA (JP): Finance ministers of the nine member countries of the Association of Southeast Asian Nations (ASEAN) will meet here Saturday to discuss the region's prolonged financial crisis.

The Indonesian Ministry of Finance spokesman, Agus Haryanto, said yesterday that Minister of Finance Mar'ie Muhammad would chair the meeting held at the Jakarta Convention Center.

"This meeting will discuss, among others, the ASEAN currency crisis and other financial matters," Agus said.

He said all nine finance ministers were scheduled to attend the meeting.

Mar'ie will be joined by finance ministers Anwar Ibrahim of Malaysia, U Khin Maung Thein of Myanmar, Salvador Enriquez Jr. of the Philippines, Richard Hu Tsu Tau of Singapore, Tarrin Nimmanahaeminda of Thailand, Nguyen Sin Hung of Vietnam, B. Khenavong of Laos and Ahmad Wally Skiner of Brunei.

ASEAN Secretary-General Rodolvo C. Severino will also attend the meeting.

ASEAN leaders in their 1995 summit in Bangkok agreed to have their finance ministers meet regularly to improve cooperation in the areas of banking, insurance, taxation, customs and the capital market.

The upcoming meeting will be the second formal ASEAN finance minister meeting after their first meeting in Phuket, Thailand, in March last year.

The finance ministers also held an informal meeting in Kuala Lumpur last December.

This weekend's meeting will be preceded by a two-day meeting of ASEAN customs director generals, starting tomorrow, and a one- day ASEAN senior finance officials meeting Friday.

Agus Haryanto said the customs meeting was aimed at harmonizing customs systems and enhancing trade in the region.

The customs officials will focus on tariff terms, the valuation of goods and customs procedures.

Agus said the customs officials previously have convened five times. Last year's May meeting in Brunei produced the ASEAN Agreement on Customs.

"In their sixth meeting, they will draw up a collective action plan, which will cover technical and administrative aspects of customs issues... so that it will contribute to the implementation of the ASEAN Free Trade Area by 2003," Agus said. (rid)