Japan urged to join EAEC

Japan urged to join EAEC

TOKYO (AFP): Japan's most influential business group is
considering plans to urge the government to endorse a Malaysian
plan for an East Asian Economic Caucus (EAEC), news reports said
yesterday.

The reports said the Japan Federation of Economic
Organizations (Keidanren) wanted to clarify its position before
sending trade missions to the six members of the Association of
Southeast Asian Nations (ASEAN) and Vietnam next year.

Fears of alienating the United States, its biggest trading
partner, have kept Japan from endorsing the EAEC plan, which is
based on a proposal made by Malaysian Prime Minister Mahathir
Mohamad four years ago.

The EAEC would group the East Asian members of the five-year-
old Asia-Pacific Economic Cooperation (APEC) forum but exclude
other members such as the United States and Australia.

Malaysia's International Trade and Industry Minister Rafidah
Aziz recently voiced frustration with Japan's policy of sitting
on the fence.