As a remedy to beat the current financial crisis ASEAN leaders urge unity
To tackle and reform the global financial crisis,Southeast Asian leaders called Sunday for immediate cooperation , as they pushed on with their dream of forming an EU-style community by 2015.
Leaders from the Southeast Asian Nations (ASEAN) which is a 10 member Association issued a joint statement on the final day of a summit that has been dominated by concerns about their export-driven economies.
In the statement they called for
"bold and urgent reform of the international financial system" to tackle the worst crisis, while agreeing to "stand firm against protectionism."
They further forced both the developed and developing countries to show "more coordinated action… to restore financial stability and ensure the continued functioning of financial markets."
The leaders also signed a declaration to set up an ASEAN community within the next six years which aimed at protecting the diverse bloc of around 570 million people from future economic turmoil.
The current chairman of ASEAN, Thai Premier Abhisit Vejjajiva said the leaders "have sent a clear signal about our guidelines to solve economic problems in the region."
Moreover he described about future steps in a press conference which includes that ASEAN members should keep each other informed of their economic policies and closely monitor for any hints of protectionism.
Foreign ministers from ASEAN and from China, Japan and South Korea agreed one week ago to extend the initiative to 120 billion dollars.In addition to these ASEAN signed a free trade deal with Australia and New Zealand on friday.
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