HM: ASEAN needs to be bolder

Rachel Thien
KUALA LUMPUR

ASEAN needs to be bolder in striving for deeper integration that goes beyond the economy, said His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam.

In his titah at the Southeast Asian leaders’ summit yesterday, His Majesty said ASEAN’s aspirations to be a community should focus not only on economic integration, but also on being a “highly competitive, innovative and relevant part of the global value chain”. The monarch said community-building is a constantly evolving process, and as ASEAN moves beyond 2015, it is necessary for the regional bloc to continue building on the achievements over the past decades to achieve greater integration.

ASEAN therefore needs to maintain its momentum and be bolder in striving for even deeper integration, His Majesty said, while giving Brunei's support to the priorities laid out by Malaysia as this year’s chair.

To achieve the ASEAN Community and generate further confidence in the region's political and economic stability, the Sultan said ASEAN's work this year must demonstrate its political will to fulfil all its commitments.

Public expectations will be high to see what positive steps ASEAN has taken towards realising an economic community that comprises a single market and production base that is inclusive, more dynamic and resilient to external shocks, His Majesty added.

The Sultan also touched on ASEAN’s progress in facilitating the cross border flow of goods, services and investments.

He said ASEAN has also succeeded in forming strong links with key economies outside ASEAN, which have brought the regional grouping greater economic prosperity.

As global economies become more integrated and interdependent, His Majesty said ASEAN needs the cooperation and support of all its partners.

To be a successful regional community in the wider global community of nations, His Majesty believes that ASEAN needs to further their cooperation with current and future potential partners.

His Majesty said since 1967, ASEAN has contributed to the peace and stability enjoyed by more than 600 million people in this region.

On the economic front, the monarch said ASEAN has enabled the region's overall trade to grow from US$10 billion ($13.3 billion) in 1967, to US$2.3 trillion ($3.06 trillion) in 2013.

Earlier, the monarch joined other leaders at the opening of the 26th ASEAN Summit at Kuala Lumpur Convention Centre, where Malaysian Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak said this is “ASEAN’s time”, and that it is imperative measures were established to continue the ASEAN Economic Community (AEC).

Dato’ Sri Mohd Najib said in realising the AEC, removing barriers to trade goes beyond reducing tariffs and include the elimination of non-tariff barriers, such as overly burdensome regulation that hampers free and fair trade.

“We must accelerate programmes to harmonise standards, increase capital market and financial integration, and promote the freer movement of goods, services, investments and talents between our countries,” he said.

“It has been estimated that if infra-ASEAN trade was boosted from 24 per cent to 40 per cent, the incremental impact on the ASEAN economy could be 2.5 trillion dollars annually. It would result in a further seven trillion dollars spending on infrastructure.”

The prime minister said this year will be a milestone in the history of ASEAN, and that the vision of creating a single economy will be realised by the end of the year.

He also pointed out concerns over the South China Sea territorial dispute, saying that ASEAN must address the issue in a proactive, but also positive and constructive way.

“Respect for international law, including the 1982 United Nations Convention on the Law of the Sea, must be the basis of the rules of engagement and activities in the South China Sea. As chairman, Malaysia hopes that we will achieve progress in our efforts towards the early conclusion of a Code of Conduct,” he said.

Accompanying His Majesty were Second Minister of Finance at the Prime Minister's Office YB Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abd Rahman Hj Ibrahim, Second Minister of Foreign Affairs and Trade YB Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng and Minister of Energy at the Prime Minister's Office YB Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Hj Mohammad Yasmin Hj Umar.

Meanwhile in the afternoon, His Majesty flew over to Langkawi and joined his counterparts for the 26th ASEAN Summit Retreat and the closing ceremony of the sum-mit. Following the retreat and closing of the summit, the monarch and Her Majesty Duli Raja Isteri Pengiran Anak Hajah Saleha joined a barbeque dinner at Lang-kawi's Westin Hotel's poolside, hosted by the Malaysian prime minister and his spouse.

Accompanying His Majesty to the retreat were YB Pehin Dato Hj Abd Rahman, YB Pehin Dato Lim Jock Seng and YB Pehin Dato Hj Mohd Yasmin.


Sumber - The Brunei Times