ASEAN-FINANCE-OPEN - 04/07/2004 09:59 - AFP
SINGAPORE, April 7 (AFP) - The annual meeting of Southeast Asian
finance ministers opened here Wednesday with Singapore taking on its
familiar role as the leading advocate of faster regional economic
integration. Singapore Deputy Prime Minister Lee Hsien Loong, who is
also finance minister, said the 10 members of the Association of
Southeast Asian Nations (ASEAN) needed to open up their markets to
face the challenges posed by China and India. "Competition is once
again at our doorstep," Lee, who is also Singapore's finance
minister, said in a keynote address to open the one-day meeting.
"ASEAN can benefit tremendously from the rise of our large
neighbours by trading with them, investing in them, and attracting
tourists from them... but it means further integrating our
economies." ASEAN Secretary General Ong Keng Yong told reporters
before the start of the meeting that the finance ministers would be
focusing on maintaining regional economic stability following years
of various crises. "The main thing I believe the finance ministers
would like to do at this meeting is to promote a message of
continuity, stability and to get more people to pay more attention
to the opportunity available in ASEAN." "So I don't think they are
looking for any dramatic initiatives, big bang kind of activities,
what we want is to consolidate, carry on our reforms and
restructuring." kma/mba/jah