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)