ASEAN ministers look north and south for growth

ASEAN ministers look north and south for growth

SIEM REAP, Cambodia (AFP): Southeast Asian economic ministers
will take a fresh look at expanding trade into the region's
northeast and the Pacific as they kicked off a meeting here
Wednesday, officials said.

The impact of the U.S. economic slowdown on the economies from
the Association of Southeast Asian Nations (ASEAN) had underlined
the need for closer economic integration with regional economies,
they said.

This includes China, Japan, South Korea, Australia and New
Zealand.

"There is a sense in ASEAN to take a fresher and perhaps
bolder look into this economic integration process," Philippine
assistant trade secretary Jose Antonio Buencamino told AFP.

Discussions would focus on integration, economic cooperation
and a possible round of global trade talks under the World Trade
Organization (WTO), he said.

The U.S. downturn has forced several Southeast Asian countries
to cut growth forecasts and "figures into why we have to take a
new look at greater economic integration," Buencamino said.

The ministers of Brunei, Laos, Myanmar, Singapore and Thailand
arrived Wednesday and were welcomed by the host, Cambodian
Minister of Commerce Cham Prasidh at a luxury hotel near the
famous Angkor Wat temples.

ASEAN members Indonesia, Malaysia, the Philippines and Vietnam
sent deputies.

The meeting kicked off with a working dinner.

On Thursday, the ministers will meet Cambodian Prime Minister
Hun Sen and retreat into seclusion for open discussions,
officials said.

On Friday, they will meet with counterparts from China, Japan
and South Korea under the ASEAN plus three dialogue process.

Chinese Minister for Trade and Economic Cooperation Shi
Guangsheng, South Korean Minister of Foreign Affairs and Trade
Hwang Doo-yun will attend.

Japan, where a new government has just taken over, will send a
vice minister, organizers said.

Robert Teh, director for trade at the Indonesia-based ASEAN
Secretariat, said discussions were also expected on closing the
gap between ASEAN's more developed and less developed members.

Talks would help efforts to forge a free trade area between
ASEAN, China, Japan and South Korea -- which had earlier been
raised during an East Asian leaders' summit hosted by Singapore
in November 2000.

The ASEAN Free Trade Area (AFTA) will see tariffs brought down
to between zero and five percent by 2003 for the group's more
developed members and at a later date for its poorer members.

Teh said ministers would also review progress on moves to link
AFTA with the Closer Economic Relations alliance -- a free trade
area covering Australia and New Zealand.

Malaysia has opposed the inclusion of both countries in a free
trade agreement (FTA) with ASEAN and warned against using
bilateral FTAs -- spearheaded by Singapore -- as a "backdoor"
entry.