Singapore PM: ASEAN growing closer to China and India


By ANNABELLE LIANG, AP
SINGAPORE

Southeast Asian countries will work more closely with new powers China and India to counter the pressure of protectionism and ensure continued growth, Singapore’s prime minister said Saturday.

Addressing the summit of the 10-nation Association of Southeast Asian Nations, Prime Minister Lee Hsien Loong said that regional economic growth was under threat because the political mood in many countries had turned against free trade. He said recent trade tensions between the U.S. and China in particular are worrying.

The U.S. and China are entangled in their most consequential trade dispute since World War II. Both countries have proposed tariffs of $50 billion on each other’s products. President Donald Trump is looking to impose tariffs of up to $100 billion more on Chinese goods.

“The global strategic balance is shifting, and so is the regional balance,” Lee said. “New powers, including China and India, are growing in strength and influence. This has opened up new opportunities for ASEAN member states as we expand our cooperation with them.”

He said that the group faces challenges closer to home as well, such as the Islamic State group, cybersecurity and strengthening a regional economic community.

In a statement on Saturday, ASEAN leaders affirmed the need for peace in the South China Sea, where the bloc is currently negotiating a set of rules with China to avoid conflicts arising from a bitter territorial dispute pitting some members against Beijing’s vast claims to the strategic waterway.

They also encouraged Myanmar and Bangladesh to press on with their “shared commitment to carry out the voluntary return” of about 700,000 Rohingya Muslims who have fled Myanmar’s Rakhine state, Lee said.

Myanmar’s military has been accused of instigating the persecution of the ethnic minority, which has been denied citizenship in the predominantly Buddhist country.

Lee said the leaders agreed that the refugees’ return must be carried out “in a safe, secure and dignified way, without undue delay.”

The leaders also welcomed a historic summit between North Korean leader Kim Jong Un and South Korean President Moon Jae-in as a first step toward reducing tensions on the Korean Peninsula.

“It’s a positive step — it’s better than firing missiles and testing bombs — but how does it go? That’s something which we will wait and see and which we can only hope for the best,” Lee said.

To fight protectionism, Lee said ASEAN would like to conclude negotiations this year on the Regional Comprehensive Economic Partnership, a proposed free trade agreement between ASEAN members and Australia, China, India, Japan, South Korea and New Zealand.

In addition to Singapore, the ASEAN members are Myanmar, Cambodia, Laos, Indonesia, Thailand, Malaysia, Vietnam, Brunei and the Philippines.

COMMENTS





Name

Business,743,Careers & Education,3,Investing,14,Markets,10,Money,4,Personal Finance,4,Real Estate,4,Small Business,15,
ltr
item
Business - U.S. Daily News: Singapore PM: ASEAN growing closer to China and India
Singapore PM: ASEAN growing closer to China and India
https://2.bp.blogspot.com/-a5y4lpVaVyA/WuVLN230G3I/AAAAAAAAkF0/k3dDUCZAhpYi3UZxj1QyAhNvjPiWwXrWQCEwYBhgL/s1600/5.jpg
https://2.bp.blogspot.com/-a5y4lpVaVyA/WuVLN230G3I/AAAAAAAAkF0/k3dDUCZAhpYi3UZxj1QyAhNvjPiWwXrWQCEwYBhgL/s72-c/5.jpg
Business - U.S. Daily News
https://business.dailynews.us.com/2018/04/singapore-pm-asean-growing-closer-to.html
https://business.dailynews.us.com/
https://business.dailynews.us.com/
https://business.dailynews.us.com/2018/04/singapore-pm-asean-growing-closer-to.html
true
8288295252483019008
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy