Asia-Pacific

ASEAN economic ministers meet in Vietnam

(Xinhua)
Updated: 2010-08-25 13:39

DANANG, VIETNAM -- The 42nd ASEAN Economic Ministers' Meeting opened here Wednesday, drawing participation of economic ministers from the Association of Southeast Asian Nations (ASEAN) and the ASEAN Secretary-General Surin Pitsuwan.

Vietnamese Prime Minister Nguyen Tan Dung attended the opening ceremony and delivered a speech. Vietnam holds the rotating ASEAN Chairmanship this year.

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Dung said that ASEAN has now moved to a new phase of development towards the realization of the ASEAN Community by 2015. The Community is rested on three pillars including the Political- Security Community, the Economic Community and the Socio-Cultural Community

The establishment of the ASEAN Economic Community (AEC) is a clear manifestation of ASEAN's strong and consistent commitments to regional economic integration, he said.

The Vietnamese prime minister urged ASEAN economic ministers to seek practical and innovation solutions to promote the effective implementation of the AEC Blueprint by 2015.

The success of AEC will help define a new and firm position for ASEAN in the global economy, said Dung.

Dung said that ASEAN countries should pursue balanced and sustainable development policies, striking a balance between economic development targets and macro-economic stability, social development and effective response to the global challenges.

Members of the bloc should also strengthen the current framework for economic cooperation between ASEAN and its dialogue partners to promote economic linkages and create the foundation for an emerging greater regional architecture with ASEAN playing a central role, he said. ?

ASEAN, established in 1967, currently groups ten countries in Southeast Asia including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.