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.