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HUA HIN, Thailand: ASEAN's ties with China have been given a boost with the signing of a memorandum of understanding to set up an ASEAN-China Centre.
Jointly funded by ASEAN and China, the centre will be located in Beijing, contributing directly to trade promotion, investment, tourism, education, as well as cultural and people-to-people exchanges.
For a start, the centre will provide relevant information for businesses and the public, and serve as a data bank in the longer term, providing consultation, assistance and organising activities, such as trade fairs and exhibitions, to maximise the benefits of ASEAN-China Free Trade Area.
Meanwhile, ASEAN's leaders have had extensive discussions with their East Asian partners.
In a statement on Sunday, ASEAN chair Thailand said that on the global financial and economic crisis, leaders noted that East Asia has shown signs of recovery and regained its pace of economic growth.
The Asian Development Bank recently revised upwards its forecast on East Asia’s growth from 3.4 per cent to 3.9 per cent for this year, and from 6 per cent to 6.4 per cent for next year.
The summit concluded that East Asia could therefore play a crucial role in driving global economic recovery and in reforming the international financial architecture.
The leaders also noted that the various economic stimulus measures have yielded results in their respective countries.
However, they said it is now important for East Asian countries to consider exit strategies for stimulus measures that were implemented, stressing that they should be done in a coordinated manner so as not to undermine the fragile recovery and create imbalances.
On climate change, leaders stressed that the East Asia Summit (EAS) should send a strong political message in support of the success of the Copenhagen Conference in December, so as to maintain momentum.
Leaders also discussed how the region can further cooperate, including in exchanges of technology and technical assistance in the area of environmental conservation.
During their working lunch, EAS leaders exchanged views on regional and international issues, such as the denuclearisation of the Korean Peninsula.
- CNA/so
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