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SINGAPORE: The Myanmar issue is unlikely to derail Asia's growth, according to Senior Minister Goh Chok Tong.
Speaking at the Barclays Asia Forum on Thursday, he said the numbers speak for themselves.
Asia's share of global GDP currently accounts for 36 per cent, almost doubling the 19 per cent in 1980.
Mr Goh said it is poised to rise to 46 per cent come 2020.
He also added that Myanmar will not be the most important topic at the upcoming ASEAN Summit in Singapore, even though it is likely to grab media attention.
Of greater importance is the ASEAN leaders' signing of a declaration to establish an ASEAN Economic Community by 2015.
This will pave the way for a free flow of goods, services and labour within a single market.
Also on the table will be a landmark ASEAN charter to transform the grouping into a more rules-based organisation.
Still, Mr Goh said Myanmar cannot return to the status quo ante after the government's violent crackdown on protests last month.
The issue may affect its immediate neighbours and hurt the reputation of ASEAN.
Therefore, Singapore and ASEAN support the mission by the UN special envoy, Ibrahim Gambari, to bring about a compromise between various parties in Myanmar.
But there are other challenges to achieve sustained growth in Asia, continued Mr Goh.
These include the widening income gap and environmental degradation.
In particular, Mr Goh said China is serious over environmental issues, evident in the eco-city project between Singapore and China.
They are in the process of choosing a water-scarce non-agricultural site in China so that it can be a model for other new Chinese cities.
On the recent sub-prime crisis, Mr Goh said Asia has emerged relatively unscathed, but it must continue to develop tools to manage such risks.
While the growth of China and India has energised Asia, Mr Goh is also confident Singapore can stay ahead of the curve.
He said the country will continue to remake itself, and its growth will increasingly stem from knowledge- and innovation-intensive activities.
It has also built strong growth momentum in areas like biomedical and financial services, as well as tourism.
- CNA/yb
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