Mahathir promotes EAEC

Mahathir promotes EAEC

KUALA LUMPUR (AFP): Malaysian Premier Mahathir Mohamad said yesterday that ASEAN should continue wooing Japan, China and South Korea into a proposed grouping of East Asia's booming economies despite an initial lukewarm response.

"The effort to have them in the grouping is a good move as it can strengthen ASEAN and its influence in decision-making for an East Asian vision," Mahathir told reporters.

Japan, South Korea and China told the Association of Southeast Asian Nations (ASEAN) foreign ministers during their annual talks in Bangkok on Monday that more time was needed to consider joining the Mahathir-initiated East Asian Economic Caucus (EAEC).

"There is no problem if the three countries want more time but I hope this is not a way for them to avoid making a decision," Mahathir said.

Monday's informal meeting was the first between ASEAN and three of the five prospective core members of the EAEC, officials said. Hong Kong and Taiwan are the other two economies being wooed by ASEAN for EAEC's take-off.

Analysts said indecision by China, Japan and South Korea had largely stalled the EAEC's planned take-off this year.