Thursday, 26 August 2010 - BERNAMA
DA NANG: Economic ministers of the Association of Southeast Asian Nations (Asean) agreed on a variety of measures to boost trade and investment within the bloc and with outside partners as they expressed confidence on regional economic prospects and headed to the establishment of an Asean Economic Community (AEC) by 2015.
They reached agreements at the 42nd Asean Economic Ministers' Meeting and the fourth Asean Economic Community Council Meeting, that both started in Da Nang on Wednesday, Aug 25, Vietnam news agency reported.
Prime Minister Nguyen Tan Dung opened the meeting, re-affirming the importance of a comprehensive, balanced and systematic approach in policy co-ordination at national and regional levels.
"This year is a pivotal year for the association in establishing the Asean Community, resting on the three pillars of political-security, economic and socio-cultural communities on which the economic community is making remarkable progress," Dung said.
He noted that member countries should pursue balanced and sustainable development policies and strike a balance between economic development targets, macro-economic stability and social development.
At the meeting, ministers forecast Asean's real GDP growth to reach over 5% this year, compared with only 1.5% last year. The region was significantly helping drive global economic recovery, besides key economies such as China and India, they said.
Ministers noted that Asean's total merchandise trade value remained resilient at about US$1.54 trillion (RM4.85 trillion) last year while trade surplus with the rest of the world reached US$61.2 billion in 2009, doubling that of 2008.
They also affirmed that trade with its dialogue partners remained strong despite the global financial and economic crisis, especially with China, the European Union and Japan. |
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