ICAPP Delegates Call For Creation Of Asian Economic Union

KUALA LUMPUR, Sept 5 (Bernama) -- Asia's rapid economic growth and ascendancy in the global economy necessitate the formation of the Asian Economic Union, Indonesia's People's Conscience Party said. Its deputy secretary-general of cadre development, Pradana Indraputra said Asia could create an economic bloc similar to the European Union (EU) to facilitate free movement of trade and human capital to further develop the region's economy. "Being the world's largest market and largest production base do not make Asia the most dominant power. We have to strengthen our cooperation in order to develop our economy. "We need to foster closer cooperation for better macroeconomic policy, deregulate or reduce trade barriers and encourage more technology transfer in the region," he told Bernama on the sidelines of the fourth plenary session at the 9th General Assembly of the International Conference of Asian Political Parties (ICAPP) here Sunday. The three-day conference themed 'Cooperation to Promote One Asia' ends on Sunday. Concurring on the idea, Japan's House of Representatives member Kazuo Shii, however, said the conditions towards creating a regional economic bloc in Asia were different from that of Europe. "Asia is far more diverse than Europe and the region is experiencing different phases of economic development. Unity and diversity are very important in Asia. "I think the practical way is to seek regional communities in Asia and unify them into one big union gradually," he said. Shii said that mutual respect for differences among Asian countries is central to pave the way towards "a big union in Asia". He said the Asian continent could learn from ASEAN in building multi-layered frameworks for peace and security in the region. Although the region has complex challenges like the South China Sea dispute and growing presence of major powers, he said ASEAN has addressed such challenges patiently, resiliently, wisely and creatively. "ASEAN practices its core principle of peaceful resolution of dispute by working diligently to prevent any dispute from escalating into a war through intense dialogues which takes place every year. "I believe that ASEAN's efforts in tackling its challenges can teach and enrich us (Asian countries) so that we can increase our own efforts to build a better future," he said. --BERNAMA