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Singapore pushes ASEAN integration at finance ministers meeting

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

 

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