ASEAN together with its East Asia Summit (EAS) partners formally brought into being the Economic Research Institute for ASEAN and East Asia (ERIA) yesterday, which will provide intellectual and capacity building support to the realization of the ASEAN Economic Community by 2015 and East Asia community of the future, turning the region into the largest business space in the world.  

ERIA is designed to be a think-tank, in the words of Prime Minister Yasuo Fukuda of Japan, similar to the OECD in Paris for the developed economies of the world.  Japan is prepared to finance the operation of ERIA for its first decade.  ERIA will focus its work on the three pillars of deepening integration, narrowing the development gap and sustainable development in East Asia.
ERIA’s official establishment was witnessed by members of its Governing Board, which held its inaugural meeting yesterday at the ASEAN Secretariat in Jakarta.   The Board comprises the ASEAN Secretary-General and eminent individuals from the government, business community and academia of the 16 countries participating in the EAS. 

The ASEAN Secretary-General, Dr. Surin Pitsuwan, opened the meeting and expressed his delight to participate in the historic event.  He underscored ERIA’s role in building the intellectual foundation for East Asia integration and in contributing to the establishment of the ASEAN Economic Community by 2015 in terms of policy-oriented and strategic economic research and capacity building.  He said that “this would certainly help to create the world’s largest business space in a vibrant and more integrated East Asia”.

Dr. Surin emphasized that ASEAN economic integration is the key to wider regional integration. He said that “ASEAN’s role as a driver of regionalism and a hub creating linkages among Australia, China, India, Japan, South Korea and New Zealand has brought the best out of their individual contributions to East Asian community building”. 

He read the congratulatory messages from the Prime Minister of Cambodia, Minister of Trade of Indonesia, and Minister of Economy, Trade and Industry of Japan to the meeting of the Board.

The Board discussed several matters related to the establishment and operations of ERIA.  It elected Dr. Dinh Van An, President of Central Institute for Economic Management of Viet Nam, as the Chairperson of ERIA Governing Board for the first three years.  Mr. Hidetoshi Nishimura, currently the Special Assistant to the Chairman of Japan External Trade Organisation (JETRO) on ERIA Matters, was appointed as the Executive Director.  The Board also approved the work programme for the financial year of 2008, budget and logo of ERIA.

The work of ERIA, which started one year ago, has resulted in several studies and this will continue under the new work programme.  The Board has made recommendations on a number of areas to be addressed by Executive Director, which included escalating oil and food prices, energy security, and infrastructure development.   

The ASEAN Secretariat will work closely with EAS participating countries and ERIA to assist in executing the research agenda and work programme of ERIA.  Dr. Surin said that “the role of ASEAN Secretariat in working with ERIA as a partner needs to be emphasized in order to forge close links with the policy-making processes in ASEAN and East Asia”.  He also called on other partners of ASEAN to contribute to the work of ERIA.

The East Asia Summit participating countries consist of the ten countries of ASEAN, Australia, China, India, Japan, South Korea and New Zealand.