ID :
63594
Mon, 06/01/2009 - 15:00
Auther :
Shortlink :
https://oananews.org//node/63594
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M`SIAN PM: THREE KEY MEASURES TO STRENGTHEN ASEAN-KOREA RELATIONS
From Khairdzir Yunus
JEJU ISLAND, (South Korea), June 1 (Bernama) -- Najib Tun Razak,
who described the signing of the Asean-Korea Investment Agreement which will
take place here Tuesday, as a significant step for both Asean and Korea, Monday
highlighted three key measures that would strengthen cooperation within the
framework of Asean-Korea relations and the East Asian region.
The Malaysian Prime Minister said that first, there was a need to intensify
collaboration and raise the level of cooperation to capitalise on the new
strategic partnership.
Second, there is sound basis to look beyond Asean and Korea, and identify
measures to enhance East Asian cooperation and third, both Asean and Korea must
work together to involve other emerging economies in Asia in the regional
integration process for the wider benefit of Asia and the global trading system,
he said.
Najib, who is also Finance Minister, said this in his keynote address at the
closing session of the Asean-Korea CEO Business Summit at the International
Convention Centre (ICC) Jeju, here Monday.
On Asean-Korea economic relations, Najib said that both sides had
undertaken various initiatives and created the necessary institutional support
to facilitate and forge closer bilateral ties.
"Given the increasingly competitive environment in which we currently
operate,we as governments, should do our part to make it easier for goods to
move across borders," he said.
Najib said that much had been done to support and facilitate the growth of
the Asean-Korea relationship over the past 20 years and the signing of the
Asean-Korea Investment Agreement tomorrow, would complete the Asean-Korea
Framework Agreement for Economic Cooperation.
He said that through the Asean-Korea Framework Agreement, both sides were
creating a transparent, liberal and facilitative trade and investment regime.
"Next year, we will see a freer flow of trade in goods, as Asean and Korea
remove import duties on a substantial number of products.
"This is a significant step that both Asean and Korea are embarking on and
the private sector should not let the opportunity slip away as governments work
towards the goal of creating a conducive business environment," he said.
Najib also pointed out that more needed to be done at the level of the
private sector, as there appeared to be a lack of intensity, in the engagement
of the business communities in Asean and Korea.
"I thus call on the private sector to move fast to realise the potential and
make use of the opportunities that can accrue from this relationship. Much
depends on the private sector to ensure that the objectives of the Asean-Korea
Framework Agreement for Economic Cooperation are realised.
"Ultimately, it is the business community which will bring to fruition the
initiatives of governments," he said.
Najib also said that the time was now appropriate for taking the Asean Plus
One cooperation and integration to a higher level as there was basis for Asean,
Korea and the other East Asian countries to do this.
He said the present financial and economic crisis as well as the lessons
learnt from the 1997 Asian Financial crisis reinforced the position that
deepening East Asian economic and financial cooperation was no longer an option
but an imperative.
"Today, under the Chiang Mai Initiative a US$120 billion fund for swap
arrangements has been created to assist countries in difficulties," he said.
Najib said that he was of the view that the current global crisis presented
an opportunity for countries in this region to work towards strengthening East
Asian economic integration and study the underlying factors contributing to the
level of impact of the current crisis.
"Lessons learnt can contribute to a strong and dynamic East Asian region
which will provide economic growth not only for it but also act as a
catalyst for global economic growth as well.
"We have to strengthen the economic resilience of East Asia. We must build
on the Asean Plus One cooperation to enhance collaboration among the East Asian
countries," he said.
Najib also said that while the immediate priority was to intensify
cooperation within the East Asia region, they also needed to be mindful of the
emergence of other countries, particularly in Asia that could complement
East Asian economic integration and open up new areas of opportunities.
He also proposed the establishment of a defined mechanism which would
allow the private sector to provide feedback on impediments that constrain their
efforts to expand trade and investment flow between Asean and Korea.
"Without such feedback from the private sector, it will be difficult for
governments to continue to make improvements to create facilitative and
conducive business environments, so critically necessary for the regional
economic integration that we envisage," he said.
The CEO Summit, organised by the Korea Chamber of Commerce and Industry on
the sidelines of the Asean-Republic of Korea Commemorative Summit,was attended
by business leaders.
-- BERNAMA
JEJU ISLAND, (South Korea), June 1 (Bernama) -- Najib Tun Razak,
who described the signing of the Asean-Korea Investment Agreement which will
take place here Tuesday, as a significant step for both Asean and Korea, Monday
highlighted three key measures that would strengthen cooperation within the
framework of Asean-Korea relations and the East Asian region.
The Malaysian Prime Minister said that first, there was a need to intensify
collaboration and raise the level of cooperation to capitalise on the new
strategic partnership.
Second, there is sound basis to look beyond Asean and Korea, and identify
measures to enhance East Asian cooperation and third, both Asean and Korea must
work together to involve other emerging economies in Asia in the regional
integration process for the wider benefit of Asia and the global trading system,
he said.
Najib, who is also Finance Minister, said this in his keynote address at the
closing session of the Asean-Korea CEO Business Summit at the International
Convention Centre (ICC) Jeju, here Monday.
On Asean-Korea economic relations, Najib said that both sides had
undertaken various initiatives and created the necessary institutional support
to facilitate and forge closer bilateral ties.
"Given the increasingly competitive environment in which we currently
operate,we as governments, should do our part to make it easier for goods to
move across borders," he said.
Najib said that much had been done to support and facilitate the growth of
the Asean-Korea relationship over the past 20 years and the signing of the
Asean-Korea Investment Agreement tomorrow, would complete the Asean-Korea
Framework Agreement for Economic Cooperation.
He said that through the Asean-Korea Framework Agreement, both sides were
creating a transparent, liberal and facilitative trade and investment regime.
"Next year, we will see a freer flow of trade in goods, as Asean and Korea
remove import duties on a substantial number of products.
"This is a significant step that both Asean and Korea are embarking on and
the private sector should not let the opportunity slip away as governments work
towards the goal of creating a conducive business environment," he said.
Najib also pointed out that more needed to be done at the level of the
private sector, as there appeared to be a lack of intensity, in the engagement
of the business communities in Asean and Korea.
"I thus call on the private sector to move fast to realise the potential and
make use of the opportunities that can accrue from this relationship. Much
depends on the private sector to ensure that the objectives of the Asean-Korea
Framework Agreement for Economic Cooperation are realised.
"Ultimately, it is the business community which will bring to fruition the
initiatives of governments," he said.
Najib also said that the time was now appropriate for taking the Asean Plus
One cooperation and integration to a higher level as there was basis for Asean,
Korea and the other East Asian countries to do this.
He said the present financial and economic crisis as well as the lessons
learnt from the 1997 Asian Financial crisis reinforced the position that
deepening East Asian economic and financial cooperation was no longer an option
but an imperative.
"Today, under the Chiang Mai Initiative a US$120 billion fund for swap
arrangements has been created to assist countries in difficulties," he said.
Najib said that he was of the view that the current global crisis presented
an opportunity for countries in this region to work towards strengthening East
Asian economic integration and study the underlying factors contributing to the
level of impact of the current crisis.
"Lessons learnt can contribute to a strong and dynamic East Asian region
which will provide economic growth not only for it but also act as a
catalyst for global economic growth as well.
"We have to strengthen the economic resilience of East Asia. We must build
on the Asean Plus One cooperation to enhance collaboration among the East Asian
countries," he said.
Najib also said that while the immediate priority was to intensify
cooperation within the East Asia region, they also needed to be mindful of the
emergence of other countries, particularly in Asia that could complement
East Asian economic integration and open up new areas of opportunities.
He also proposed the establishment of a defined mechanism which would
allow the private sector to provide feedback on impediments that constrain their
efforts to expand trade and investment flow between Asean and Korea.
"Without such feedback from the private sector, it will be difficult for
governments to continue to make improvements to create facilitative and
conducive business environments, so critically necessary for the regional
economic integration that we envisage," he said.
The CEO Summit, organised by the Korea Chamber of Commerce and Industry on
the sidelines of the Asean-Republic of Korea Commemorative Summit,was attended
by business leaders.
-- BERNAMA
