VIENTIANE: Southeast Asia will "chart its own course" as it deepens
economic linkages, building on the successes and learning from the mistakes of
the European Union, Malaysian Prime Minister Najib Razak said on Monday.
Speaking at a summit of Asian and
European leaders in Laos, Najib said the Association of Southeast Asian Nations
(ASEAN) was on course to establish an economic community by 2015.
"It is our chance to restate
the case for economic cooperation across borders," he said on the first
day of the Asia-Europe Meeting, held against the backdrop of the festering
eurozone debt crisis.
"Of course, Asia is not
Europe. But the fundamental principles behind free trade are the same wherever
you are in the world."
Najib said the ASEAN economic
community aims to boost trade among the 10 member states by reducing barriers,
harmonising rules and easing the flow of goods and services.
ASEAN has however taken a
cautious approach to accommodate the needs of its diverse membership, which
ranges from communist-ruled states to democracies and a sultanate at various
levels of economic development.
The regional bloc has shied away
from talk of a single currency like the euro or setting up a mechanism like the
EU, a common central bank or other related institutions.
"ASEAN will chart its own
course, building on the successes of the European project whilst learning from
its failures," Najib said.
- AFP/jc
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