East Asia Summit starts, India seeks greater economic integration

Cebu, Jan 15: Prime Minister Manmohan Singh and leaders of 15 other countries of the region gathered here today for the 2nd East Asia Summit (EAS) to look at ways of deepening and widening their strategic, political and economic engagement and strengthening cooperation in all areas.

Dr Singh told the meeting that it was important to expedite the process of putting in place a regional architecture for greater cooperation and economic integration among countries of East Asia.

The agenda of the summit includes energy security, stabilisation of the regional financial system, mitigating natural disasters, environment and other subjects of common interest which India thinks can only be tackled effectively within a broad inclusive framework.

After the opening session at the Cebu International Convention Centre, the leaders attending the summit went into a retreat.

Later, the President of the Asian Development Bank (ADB) presented to them a report on ''East Asia Regional Economic and Financial Situation.'' The leaders will sign the Cebu Declaration on Energy Security before meeting over a working lunch.

The focus of the talks will be the energy security pact that seeks to reduce greenhouse gas emissions and the region's dependence on costly crude oil but without setting any specific target.

Energy demand in the 10 ASEAN countries is expected to more than double by 2030, from nearly 500 million tonnes of oil equivalent in 2002.

The region emitted about 1,000 million tonnes of carbon dioxide in 2002 and this figure will increase by almost threefold by 2030, according to ASEAN data.

The second East Asia summit was held in a more constructive atmosphere than last year with Beijing and Tokyo using the opportunity to further mend ties.

''This year is more focused on substance. Last year it was like a house-warming party, everybody came and got to know each other'' Ong Keng Yong, Secretary-General of the 10-member ASEAN, told reporters.

The 16 countries, representing half the world's population and a fifth of global trade, will also discuss North Korea's nuclear ambitions, financial integration, disaster mitigation and bird flu.

The Philippines, which holds ASEAN's rotating chairmanship, raised the issue of a regional nuclear arms race during talks on Noth Korea's nuclear plans yesterday.

Dr Singh, who arrived here on Saturday night, attended the 5th India-ASEAN Summit on this central Philippines island yesterday. India has used the two summits to elevate its engagement in South East and East Asia to qualitatively new levels. The East Asia Summit was established in December, 2005, at Kuala Lumpur as a forum for dialogue on broad, strategic, political and economic issues of common interest and concern to promote peace, stability and economic prosperity in the region.

The Prime Minister has said that India's participation in the two summits was a reflection of the increasing significance of the ''Eastern orientation'' of its foreign policy and its quest for closer engagement with the countries of this region.

The two summits were originally scheduled for last month but the Philippines postponed the 12th ASEAN Summit and all other related events because of concerns over an approaching typhoon.

ASEAN brings together Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Apart from the 10 ASEAN members and India, the EAS was attended by Japan, China, South Korea, Australia and New Zealand.

India sees its ''Look East Policy'', launched in 1992, not merely as an external economic policy but also as a strategic shift in its vision of the world and its place in the evolving global economy.

It is also India's way of reaching out to its ''civilisational neighbours'' in South East Asia and East Asia.

The Prime Minister has used the opportunity provided by the two summits to talk about India's economic growth and the steps taken by his government which have made Indian industry more competitive globally and turned India into a vibrant marketplace and a productive and profitable business destination.

He has also stressed that economic activities cannot be confined to national borders and must be channelled to fuel growth in each other's countries.

The Prime Minister believes that the East Asian Community is a natural extension of the India-ASEAN engagement.

Dr Singh will leave here this afternoon for Kolkata, where he will spend the night before visiting the violence-hit areas of Asom tomorrow.

UNI