ASEAN/burma/thailand

[moe@xxxxxxxxxxxxx]

Indonesia's Wahid to attend ASEAN summit in Manila

 .c Kyodo News Service  

  
JAKARTA, Oct. 22 (Kyodo) - New Indonesian President Abdurrahman Wahid
promised Friday to attend the informal summit of the Association of
Southeast Asian Nations (ASEAN) in Manila on Nov. 28, Malaysia's envoy to
Jakarta said Friday. 

Ambassador Rustam bin Muhammad Isa told reporters, ''The president would
like to have a series of meetings with heads of state and government of
ASEAN during the informal summit meeting in Manila next month.'' 

Wahid declared his intention to meet other ASEAN leaders, during a courtesy
call by the ambassadors to Indonesia of the regional grouping's nine other
members. 

During the meeting, Wahid told the ambassadors that Indonesia is committed
to continue improving cooperation with ASEAN countries. 

ASEAN, which has its secretariat in Jakarta, is composed of Brunei,
Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore,
Thailand and Vietnam. 

AP-NY-10-22-99 0237EDT
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ASEAN says common currency idea winning ground

  
MANILA, Oct 22 (Reuters) - The idea of a common currency for the 10-member
Association of South East Asian Nations (ASEAN) has gained ground but is
still far from becoming reality, the grouping's head said on Friday. 

"The significance is that it has started to be talked about," ASEAN
Secretary-General Rodolfo Severino told reporters. "We are at a very early
stage...but I am surprised at the receptivity on the desirability of a
common currency. 

"Before the (Asian financial) crisis, this was unthinkable." 

But he added it had taken Europe 50 years to adopt a common currency and
only 11 countries in that region were involved n the exercise. 

"There are many considerations to be worked out...it would strike at the
role of national central banks," Severino said. "Studies are now being
carried out by academic circles and think-tanks." 

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the
Philippines, Singapore, Thailand and Vietnam. 

A common currency would facilitate regional trade and reduce dependence on
major currencies, Philippine President Joseph Estrada said on Thursday. 

Severino said the next step would be for regional leaders to set some
general targets for considering the plan, although it was not certain if
this would happen at an ASEAN summit to be held in Manila late next month. 

SURVEILLANCE MECHANISM, REGIONAL SECURITY 

A meeting of ASEAN finance ministers which will precede the summit will
discuss the second report of a surveillance commission set up by the group
to prevent another regional financial crisis, he added. 

Deputy finance ministers and deputy governors of central banks in the region
will discuss the draft of the report, being prepared by the ASEAN
secretariat, at a meeting in early November, he said. 

"There is some concern that because economies are recovering faster and
earlier than expected, reform efforts may slacken," Severino said. 

"At a national level, there is no sign of a slackening. At the regional
level, ASEAN has been trying to ensure the reforms continue," he said. 

The finance ministers will also discuss a common ASEAN stand to be taken at
the Seattle round of World Trade Organisation talks and the need for social
safety nets in member nations, he added. 

The summit itself could discuss a Philippine plan for an East Asia security
grouping and a code of conduct on the disputed Spratly Islands, Severino said. 

The Spratlys, a collection of barren islands and reefs in the South China
Sea, are believed to be atop vast reserves of oil and gas and are claimed
wholly or in part by China, Taiwan, Vietnam, Brunei, Malaysia and the
Philippines. 

Chinese, Japanese and South Korean leaders will also join the 10 ASEAN
nations at the summit, Severino said. 

01:34 10-22-99

******************
 

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