Pattaya, Chonburi
April 10-12
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Main topics to be discussed in Asean summit part 2 include:
Global financial crisis and its consequences
This issue will be addressed at both the Asean Summit and the Asean Global Dialogue, which will be held in Bangkok on April 12 at the end of the Asean+3 Summit, and East Asia and Asean-UN summits in Pattaya.
Leaders from Asean+3 (China, Japan and South Korea) will discuss surveillance mechanisms and the US$120 billion Chiang Mai Initiative currency swap arrangement, as well as Asian bonds.
Prime Minister Abhisit Vejjajiva, as current chairman, will report to the Asean meetings on the outcome of the G20 Summit in London last week.
At the G20 Summit, Mr Abhisit addressed four main issues:
-a call for coordination of monetary and fiscal policies
-the need to fight against trade protectionism
-the need to arrange financial assistance for countries in need
-a call for the reform of international financial institutions
At the Asean Global Dialogue, leaders and decision-makers from Asean and East Asia countries and key international organisations plan to discuss climate change, international conflicts and tensions, and food and energy security, in addition to the global financial meltdown and its destructive consequences.
Chiang Mai Initiative (CMI)
East Asia has focused on the regional swap arrangement known as the CMI for multilateralisation, which increased the size of its pool fund from US$80 billion to $120 billion at the Asean Summit in Hua Hin. But the implementation of the CMI's rules and procedures must be further discussed so that it safeguards regional financial stability and boosts the confidence of economic partners around the world. Leaders of Asean+6 are expected to further discuss the details of lending. It is possible no conclusion will be reached at the summit and the matter may be settled at the meeting of Asean+3 finance ministers in Bali in May.
Food Security
The issue of food security has been widely discussed since last year, when Asean, Asia and the world as a whole were hit by the sudden rise in food prices, rice in particular. Asean has agreed on a five-year plan of action, Asean Integrated Food Security (AIFS), aimed at strengthening emergency/shortage relief to ensure food supplies. The goal includes sustainable food production through improving agricultural infrastructure, minimising post-harvest losses, reductions in transaction costs, more effective use of resources and research and development in the field.
The issue of food security includes bio-energy development, as one of the reasons for the surge in food prices was the diversion of food crops into more lucrative businesses like biofuel.
Asia Pacific Community (APC)
Australian Prime Minister Kevin Rudd may try to swing the leaders around to his controversial vision of an Asia-Pacific Community. While some experts feel the APC would undermine existing regional mechanisms, Mr Rudd argues the purpose of the community would be to build on structures already in place, to foster a deeper sense of community with patterns of cooperation. So far, his idea has received only a lukewarm reaction, with Asean leaders instead favouring development in the mould of the European Union. Mr Rudd may also have been seen as being too pushy in his apparent frustration with Asean's lay-back style, where consultation is more important than action.
