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Politics : Formerly About Applied Materials

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Jan 14 3:59 PM EST

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To: StanX Long who wrote (55397)	11/13/2001 3:28:51 AM
From: StanX Long	Read Replies (1) of 70976

Tuesday November 13, 4:00 PM Philippine president calls for more integrated ASEAN economy sg.news.yahoo.com JAKARTA, Nov 13 (AFP) - Visiting Philippine President Gloria Arroyo called on Tuesday for deeper and more rapid economic integration of Southeast Asian nations in response to a new economic slump. "Our response to renewed economic adversity should be to deepen further the economic integration of our region," Arroyo said in a speech at the secretariat of the Association of Southeast Asian Nations (ASEAN) in Jakarta. She said the 10-nation ASEAN should speed up its Free Trade Area, lay the foundations of an ASEAN Investment Area, work out comprehensive plans for regional transport schemes and adopt the e-ASEAN initiative. The ASEAN Free Trade Area (AFTA) is due to come into effect in 2003. Arroyo, who was on a two-day visit to Indonesia, said ASEAN's economic competiveness "depends in large measure" on issues such as the competence of financial systems, the rule of law and transparency. "While these are largely matters of domestic policy within the sovereign right of each nation, the situation in one ASEAN country affects us all, including people's perception of the region as a whole. "How business is conducted in one ASEAN country tends to affect how the international business community views the rest," she said.

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