ASEAN wants Japan funding

ASEAN wants Japan funding

BANGKOK (AFP): The Association of South East Asian Nations
(ASEAN) is to ask Japan to finance its social development fund
after South Korea refused to do so, The Nation newspaper reported
yesterday.

An informal request will be made at a forum next week in
Bangkok attended by representatives from Japan and ASEAN member
states Brunei, Indonesia, Malaysia, the Philippines, Singapore
and Thailand, the paper said.

ASEAN's Social Development Committee aims to provide youth
programs, family planning and aid after natural disasters, and
the issue of funding was at the center of its 19th session held
in Bangkok from Jan. 10-13.

Chairman Thamarak Karnpisit said that financing had previously
been provided by developed countries but this had lapsed in view
of ASEAN members' dramatic economic strides, the paper quoted him
as saying.

ASEAN, whose members have recorded annual growth of around
eight percent on average, are now considered capable of providing
their own financing.

South Korea had been approached for funds, but declined citing
budgetary constraints, said the paper.

Trade between ASEAN and Japan totaled US$72.3 billion in 1993.