On 25 October 2009, the last day of the 15th ASEAN and Related Summits, the 4th East Asia Summit was convened. The Meeting was participated by Leaders of the ten ASEAN Member States and its six Dialogue Partners, namely China, Japan, the Republic of Korea, India, Australia and New Zealand. Gist of the discussion is as follows
- During their plenary meeting, Leaders were briefed by the Asian Development Bank (ADB) and the Economic and Social Commission for Asia and the Pacific (ESCAP) on the impact of the global financial and economic crisis on East Asia and the region’s role in shaping the regional and international financial architecture. They then had an exchange of views on the challenges of the global financial and economic crisis, climate change — particularly in view of the upcoming Copenhagen Conference, natural disasters, education and human resources development. They also touched on cooperation on enhancing food and energy security, promoting people-to-people contacts, cultural understanding, as well as on addressing transnational security issues such as terrorism.
- On the global financial and economic crisis, Leaders noted that East Asia has shown signs of recovery and regained its pace of economic growth. The ADB recently revised upwards its forecast on East Asia growth from 3.4% to 3.9% for this year and from 6% to 6.4% for next year. East Asia could therefore play a crucial role in driving global economic recovery and in reforming the international financial architecture.
- Noting that economic stimulus measures had yielded results, it is important that East Asia countries consider further how exit strategies for stimulus measures now being implemented could be taken in a coordinated manner so as not to undermine the fragile recovery and create imbalances. It is also important to build a new framework for growth that is sustainable in the long term and does not rest on the same macroeconomic imbalances of the past, while also shifting more towards domestic demand-driven growth.
- Given that six out of the sixteen EAS members are members of G20, it was proposed that EAS consider ways to entrench the EAS Finance Ministers process into the G20, such as by having them meet prior to the G20 meeting in order to coordinate positions. Meanwhile, Leaders expressed support for the WTO Doha Development Round and reaffirmed their stance against protectionism.
- On promoting further regional economic partnership, Leaders exchanged views on recommendations regarding the Comprehensive Economic Partnership in East Asia (CEPEA) under the EAS and the East Asia Free Trade Area (EAFTA) under the ASEAN+3 framework. They looked forward to achieving progress in consultations on these issues among the countries concerned. This serves to underline EAS' resolve towards deeper integration and greater liberalization.
- Leaders also discussed the issues of enhancing connectivity among East Asian countries, which is crucial to long-term growth. They also took note that ADB and ESCAP are currently working with regional countries in developing a master plan and mobilizing resources for infrastructure projects critical for long-term growth.
- On climate change, Leaders shared the view that the EAS should send a strong political message in support of the success of the Copenhagen Conference in December, so as to maintain momentum. A note of caution was made nevertheless that much depends on the position of each of the major players. Leaders also discussed how the region can further cooperate, including in exchanges of technology and technical assistance in the area of environmental conservation.
- Leaders also reaffirmed the need to find ways to mitigate the impact of natural disasters on people and economies and to further improve coordination and responses, noting the recent disasters that struck many countries in Asia and the Pacific. In this connection, they endorsed the EAS Statement on Disaster Management.
- Proposals were also made on enhancing food security through greater cooperation in research and development and technology transfer with regard to food productivity to ensure sustainable supplies.
- Leaders also discussed cooperation on education, as well as the importance of involving youth, promoting people-to-people contacts and enhancing understanding and respect for cultural diversity. In addition, at this EAS, Leaders issued a joint press statement on the Revival of Nalanda University as a non-state, non-profit, secular and self-governing international institution with a continental focus to promote intellectual, philosophical, historical and spiritual studies. A proposal was also made to identify more centers of excellence in the region and make these as open and affordable as possible, as well as to support countries concerned in lifting the quality of education.
- During their working lunch, EAS Leaders exchanged views on regional and international issues, including the denuclearization of the Korean Peninsula and the humanitarian concerns, as well as the situation in Myanmar
For further information, please contact the Press Division, Department of Information, Ministry of Foreign Affairs, Tel.02-6435170, Fax.02-6435169, E-mail: div0704@mfa.go.th
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