ASEAN to draft 2020 economic vision

ASEAN to draft 2020 economic vision

JAKARTA (JP): Economic ministers of the Association of
Southeast Asian Nations (ASEAN) are to hold a one-day informal
meeting here today to draft an economic vision for ASEAN in 2020.

Sources close to the meeting said the drafted "vision" would
focus on ASEAN in 2020, forging a partnership in dynamic
development.

The vision will map out a guideline for creating an efficient
economic region.

Apart from discussing the vision report, ministers will also
hear a report from ASEAN Secretary-General Dato Ajit Singh on
Cambodia's, Laos' and Myanmar's preparations to join the seven
member association next month.

According to a ministry source, a set of goals have been
listed in the vision report as vehicles for achieving an
efficient Southeast Asian economic region.

They include the realization of an ASEAN investment area by
2010, along with promotion of a free flow of investment by 2020.

The evolution of an ASEAN development cooperation strategy
will promote economic development and reduce poverty and
socioeconomic disparity.

The elimination of tariff and nontariff barriers will also be
highlighted as a necessary step to ensure a free flow of goods.

Sources further added that a progressive liberalization of
trade services was also included as a major goal in the initial
draft.

Following this brief informal meeting in Jakarta, the draft
report will be discussed more extensively in Kuala Lumpur during
the 29th ASEAN Economic Ministers meeting in October before being
presented to leaders at a summit there in December.

ASEAN currently comprises Brunei, Indonesia, Malaysia, the
Philippines, Singapore, Thailand and Vietnam.

The idea of an ASEAN economic vision came about during an
informal ASEAN summit here last year.

Leaders instructed minister to work on a guideline for
direction beyond the ASEAN Free Trade Area (AFTA) deadline of
2003 and the Asia-Pacific Economic Cooperation (APEC) stream of
2020.

AFTA aims at lowering tariffs in ASEAN to a level of zero to 5
percent by 2003, while APEC aims to eliminate all tariff barriers
in the region by 2020.

The Indonesian delegation in today's meeting at the Grand
Melia Hotel is headed by Coordinating Minister for Production and
Distribution Hartarto.

Ministers are scheduled for a round of golf tomorrow before
heading back to their respective capitals. (mds)