E. Asia shipping body sought to bolster ties

E. Asia shipping body sought to bolster ties

KUALA LUMPUR (AFP): Southeast Asian nations have proposed the
establishment of a wider shipping council as a forum for East
Asian shippers to enhance cooperation, a Malaysian minister said
yesterday.

The proposal by the Association of Southeast Asian Nations
(ASEAN) for an East Asia shippers council was in line with ASEAN
shippers' plans to expand cooperation in the region, said
Malaysia's Transport Minister Ling Liong Sik.

"This could be a forum to discuss issues such as freight rates
and port charges and expand intra-East Asian trade and
investment," Ling said at the 17th Federation of ASEAN Shippers'
Council (FASC) annual general meeting here.

"This is timely as the East Asian region is becoming a key
player in the global economy. There is also growing intra-East
Asian trade and flow of investments," he said.

Imports of the East Asian economies totaled US$870 billion in
1993 while exports amounted to $960 billion, said Ling.

The proposal would be discussed in an official meeting
tomorrow with Wu Yi, China's External Trade and Economic
Relations Minister, he said.

China, Japan, Macau and the European Shippers' Council act as
observers in the FASC, which comprises Malaysia, Indonesia, the
Philippines, Singapore and Thailand with associate members
Taiwan, Hong Kong, South Korea and Australia.

Ling said he expected China to respond favorably to the
proposal judging by its interest in the East Asia Economic Caucus
(EAEC), initiated by Malaysia as a loose forum for East Asia.