Monday, 2 March 2009

ASEAN accepts Philippine president's proposals

SUNDAY, MARCH 1, 2009 | GOVERNMENT MANAGEMENT
http://www.gov.ph/news/?i=23741

HUA HIN, Thailand (PND via PLDT) – Philippine President Gloria Macapagal- Arroyo was in “high spirits” after her “pet projects” were approved for implementation during the 14th Association of Southeast Asian Nations (ASEAN) Summit, Press Secretary Cerge Remonde said today.

“The President is happy and satisfied with the outcome of the 14th ASEAN Summit. Yung mga pangunahing adhikain niya ay maluwag na tinanggap ng mga fellow leaders ng ASEAN Summit that is why she is in very high spirits,” Remonde told reporters this morning at the Hilton Hotel here.

Among the notable proposals the President presented at the Summit, Remonde said, were the creation of an equity fund which ASEAN member-countries could tap into to address liquidity problems they may experience amid the global crisis, and the establishment of an ASEAN Economic Community (AEC) as agreed by the leaders during the 12th ASEAN Summit held in Cebu, Philippines.

“She (President Arroyo) has every reason to be (jubilant) because dalawang bagay ang gusto niyang itulak (at the Summit): isa yung equity fund or the $120-billion ASEAN equity fund that was approved by the Ministerial group and the President’s push for the ASEAN Economic Community,” Remonde said.

Aside from this, the President was also able to secure the BIMP-EAGA’s approval of her proposal to widen the Philippines’ fishing area to include waters in East Asia, and the adoption of the Roll-On, Roll-Off transport system in the sub-regional group’s respective countries.

The President held a meeting with the BIMP-EAGA composed of Brunei, India, Malaysia, Philippines – East Asia Growth Area sub-group members at the sidelines of the 14th ASEAN Summit being held here from Feb. 27 to March 1.

Remonde said the adoption by BIMP-EAGA of the President’s proposals was a “significant breakthrough” in the sub-region’s vision to achieve a “common ASEAN economic community.”

“So, I think this has been so far a most fruitful meeting. At this point, the leaders are having their retreat and towards noon, they will formally sign the joint declaration for the 14th ASEAN Summit,” Remonde said.

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