Asean Plus Three leaders call for closer ties

MANILA: Amid the rise of protectionism around the world, leaders of South-East Asia’s nations and their three key partners in East Asian urged one another to stay the course and press on with economic and regional integration.

They were speaking at the 20th Asean Plus Three Commemorative Summit, a forum comprising the 10 Asean nations and China, Japan and South Korea.

Each leader had a variation on a vision of an East Asian Community, or a East Asian Economic Community, but all had a common theme of working together.

Chinese Premier Li Keqiang said in opening remarks: “I hope we through this summit can build a consensus and send a positive signal that regional integration and advancing the East Asia economic community serves to benefit the people and the countries in the region.”

South Korean President Moon Jaein too called for a regional community, saying: “Let us create a vision for the East Asian Community of peace, prosperity and progress that has overcome the complex challenges including protectionist and self-centred approaches to globalisation, ageing and climate change.”

Japanese Prime Minister Shinzo Abe called for financial cooperation to strengthen the region’s economies, saying: “In the midst of concerns about the rise of protectionism and inward-looking orientation in the world, in order to enhance predictability of the economies of the region, to mitigate vulnerabilities, and to maintain and strengthen the free trade system, the significance of financial cooperation between the Asean Plus Three becomes increasingly greater.”

Prime Minister Lee Hsien Loong, addressing fellow leaders at the session, echoed the call for greater financial and economic integration.

He said that as Asean’s chairman in 2018, Singapore will do its best to further deepen the grouping’s growing ties with all three countries and work towards achieving its long term goal of building an East Asian Community.

He pointed to the potential synergy between Asean’s master plan to improve connectivity in its member states, and the East Asian countries’ own programmes like China’s Belt and Road initiative, Japan’s Expanded Partnership for Quality Infrastructure and South Korea’s Asean Connectivity Forum.

“I’m glad to see that our region is pressing on with economic integration despite sentiments against globalisation,” he said.

He also said it was important to step up efforts to conclude a high-quality and comprehensive Regional Comprehensive Economic Partnership (RCEP) – a 16-nation free trade deal all Asean Plus Three members as well as India, Australia and New Zealand are negotiating.

“This will bring tangible benefits to our businesses and citizens,” PM Lee said. —