Japan preparing second phase of Asia assistance plan

Japan preparing second phase of Asia assistance plan

SINGAPORE (Reuters): Japan is preparing a second phase of its
Asian assistance plan that would offer technical and
developmental aid, a senior trade ministry official said on
Saturday.

Hisamitsu Arai, Ministry of Trade and Industry (MITI) vice
minister for international affairs, told Reuters the time was
ripe for a "second stage" of the $30 billion Miyazawa plan.

"During the first year, the very important measure was to
provide financing," he said.

"To have a stable economic recovery (in Asia), it is necessary
for Japan to provide technical assistance or human resources
development assistance or...in market restructuring."

He declined to say when the new phase would be announced or
whether its need would be precluded by Asian economic recovery,
but said Japan could do more.

"It's time for Japan to provide (for) those areas more than
before."

Arai was visiting Singapore to meet Association of South East
Asian Nations (ASEAN) economic officials.

Earlier, Japan said it was essential new ASEAN member nations
- Vietnam, Cambodia, Laos and Myanmar - be supported in their
transition to market economies and Arai said Japan was committed
to regional training and promotional programs.

"If they (new members) have good economic stability, that will
contribute to political stability in this region," he said.

In a separate press briefing, Arai sidestepped the question of
financial support, saying it must be coordinated with
organizations such as the Asian Development Bank and World Bank.

Under its Miyazawa plan, Japan had disbursed about $4 billion
to Asian nations as of early August.