ASEAN - ASEAN reluctant to discuss currency unification

DENPASAR, Bali — The crisis facing the European Union countries appeared to cause a reluctance of ASEAN member countries to consider a currency unification.

"Now, talks on the introduction of a single currency in the ASEAN region had been abandoned, learning from the European crisis," Indonesian ambassador to ASEAN I Gede Ngurah Swajaya said in Nusa Dua, Bali, on Wednesday.

He said in deed there had been some debates on whether or not discussions on a single currency would be continued or not.

He said many among the ASEAN member countries were worried about the introduction of a single currency. Europe which had been considered as firm with a single currency system, was shattered following the crisis.

And the European countries still currently facing the crisis, had not been fully restored.

He said the countries in the ASEAN region are now busy building a synergy in the development of infrastructure, information technology (IT)and people to people relations.

ASEAN governments are preparing investment worth 60 billion US dollars.

He also said the ASEAN countries had held a connectivity symposium in Nusa Dua, Bali.

The connectivity is the development of infrastructure in ASEAN which is believed to minimize development shortcomings of all the ASEAN member countries.

"All the ASEAN member countries believed connectivity will contribute to efforts of bridging the development shortcomings of all its member countries," he said.

Connectivity of the ASEAN member countries will carry out the Master Plan on ASEAN Connectivity in full.

Ngurah Swajaya said there are about 15 mega projects under the ASEAN connectivity with a total value of 60 billion US dollars.

Three of the 15 mega projects would be realized soon in 2012, including the development of a highway, railroad and ships. (PNA/Antara)

LDV/ebp

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