[ppi] [ppiindia] Laying a foundation for a new East Asia

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Laying a foundation for a new East Asia

By ERIC TEO CHU CHEOW
Special to The Japan Times

SINGAPORE -- Optimism for East Asian integration and community building ran 
high at the conclusion of the 10th ASEAN Summit on Nov. 30 in Vientiane, Laos, 
and the back-to-back meetings between the 10-member Association of Southeast 
Asian Nations and its Asia-Pacific partners -- China, Japan, South Korea, 
India, Australia and New Zealand. The year 2005 may see a firm foundation laid 
for an East Asian community after seven developments: 
First, ASEAN leaders in Vientiane decided to speed up economic integration by 
signing pacts calling on the "original" five ASEAN countries -- Indonesia, 
Malaysia, Philippines, Singapore, Thailand -- and Brunei to abolish trade 
tariffs in 11 sectors by 2007 (three years ahead of schedule). These 11 sectors 
constitute more than half of current intra-ASEAN trade. The other four 
economies -- Vietnam, Cambodia, Laos and Myanmar -- will join the pact by 2015 
(five years ahead of schedule). 

Second, the four newer ASEAN members held a pre-summit meeting and pledged to 
work together to narrow the wealth gap with other members. They also pledged to 
move quickly toward linking their four economies and attracting foreign 
investment. Their first summit-level meeting within the greater ASEAN framework 
marked recognition of a "two-tier ASEAN." 

Third, ASEAN leaders formalized their intentions to tie up more closely with 
China and India (represented at the summit by their respective prime ministers) 
to ensure their own prosperity and more global clout. Of particular 
significance was the speech by Malaysian Prime Minister Abdullah Badawi on this 
to business leaders. It was ASEAN's first official acknowledgment of Beijing's 
and New Delhi's importance to Southeast Asia. 

ASEAN last month completed negotiations on "goods liberalization" for a future 
ASEAN-China Free Trade Agreement. It is expected to meet its FTA schedule by 
2010. 

Fourth, India was officially inducted into the Asian economic integration 
process. In fact, ASEAN was negotiating an FTA with India just as Indian Prime 
Minister Manmohan Singh declared in Vientiane that two-way trade between India 
and ASEAN should more than double to $30 billion by 2007. 

Fifth, ASEAN will begin FTA negotiations with Japan and South Korea next year 
to speed up trade flows, thus giving further impetus to the ASEAN-Plus-Three 
process. In Vientiane, Chinese, Japanese and South Korean leaders met at the 
summit level to strengthen Northeast Asian cooperation, notably in energy 
security and in the drive to resolve the North Korea nuclear crisis through 
"six-party talks." 

Sixth, ASEAN is set to begin negotiating FTAs with both Canberra and Wellington 
next year. ASEAN invited Australia and New Zealand to its summit for the first 
time, although Australian Prime Minister John Howard later refused to sign the 
ASEAN Treaty of Amity and Cooperation (China, India, Japan and South Korea have 
already inked the treaty). Despite some unhappiness within ASEAN, Australia and 
New Zealand may yet join an Asian regional political and economic grouping next 
year. 

Last, the concept of a bigger Asian economic bloc got a big boost in Vientiane. 
Philippine President Gloria Macapagal Arroyo called on ASEAN to accelerate its 
efforts to integrate the group by 2020 or earlier, and then "embrace China, 
Japan, South Korea and India." Such an economic bloc, according to Arroyo, 
could "hold its own" in future negotiations with the United States, Europe and 
other emerging economic entities. 

ASEAN reached consensus on holding an East Asian summit in Kuala Lumpur next 
year -- when Malaysia takes over the group's chairmanship -- after Indonesia 
accepted the idea of extending the ASEAN-Plus-Three process to additional 
countries. This new impetus could forge a longer-term Asian economic, social, 
cultural and political community. 

However, the East Asian summit framework should not be exclusive. It should not 
be guided by feelings of rampant Asian nationalism; it should instead seek 
better cooperation with the U.S. and the EU in a global partnership. 

The Vientiane ASEAN Summit has taken the first step forward toward building a 3 
billion-strong East Asian community. More political will and vision will be 
required in 2005 to continue building a new Asia in Kuala Lumpur. 

Eric Teo Chu Cheow, a business consultant and strategist based in Singapore, is 
council secretary of the Singapore Institute for International Affairs. 

The Japan Times: Dec. 31, 2004
(C) All rights reserved 


[Non-text portions of this message have been removed]



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