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ASEAN boost ties to cope with economic slowdow

ASEAN trade ministers have pledged to accelerate the establishment of the ASEAN Economic Community by 2015 and closely coordinate with partners in the fight against global economic slowdown.

ASEAN trade ministers have pledged to accelerate the establishment ofthe ASEAN Economic Community by 2015 and closely coordinate withpartners in the fight against global economic slowdown.

At the two-day ASEAN Economic Council (AEC) Retreat that closed inKuala Lumpur, Malaysia, on Oct. 15, the trade ministers from memberstates of the Association of Southeast Asian Nations (ASEAN) affirmedthree tasks to be done this year to consolidate forces within theregion, widen ASEAN's engagement with existing dialogue partners andseek the bloc’s role in responding to global issues.

They alsocalled for a greater transparency among ASEAN members and the removal ofnon-tariff measures to ease the integration progress, and to produceframeworks that would expand the engagement with existing and futuredialogue partners.

They have also addressed proposals bydialogue partners, China and Japan, details of which they said would beconveyed to the two countries in November when the ASEAN Summit is held.

Indonesian Trade Minister Mari Elka Pangestu told the pressafter the retreat that ASEAN ministers shared the perspective on theimpacts of the world economic slowdown on ASEAN’s exports, particularlythose with high percentage of exports to Europe and the US. They agreedthat member countries should work closely to respond to the globaleconomic downturn.

Last year, trade among ASEAN members only accounted for 25 percent of the total 2.1 trillion USD achieved in the bloc./.

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