CARI Captures Issue 48 (3 Oct 2011)
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Transcript of CARI Captures Issue 48 (3 Oct 2011)
03 OCTOBER 20 1 1 I SSUE 48
CARICAPTURES
BETA
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The ASEAN Infrastructure Fund, a
joint effort between ASEAN and
the Asian Development Bank, will
give ASEAN countries an avenue for
financing infrastructure projects and
allow it to invest its foreign reserves
within the region. The fund will be administered by the
Asian Development Bank and will be based
in Malaysia as a limited liability company,
to help make the Masterplan on ASEAN
Connectivity a reality by forging roads, rails
and energy links
The fund aims to finance six infrastructure
projects annually, selected based on
US$1.3B ASEAN INFRASTRUCTURE
FUND FUELLING REGIONAL BOOM
ASEAN
economic rates of return, as well as its
impact on poverty reduction
ASEAN suffers from low road and rail
density, as well as electricity and clean
water coverage compared to the OECD,
which requires capital outlays of US$60
billion annually to rectify the situation
A unique feature of the fund is that it
will issue debt targeted at central banks in
the region which hold substantial foreign
exchange reserves
ASEAN countries hold over US$700 billion
in foreign reserve
ASEAN has committed to lend US$4 billion
to the fund until 2020; ADB will finance about
US$9 billion
Business Worlds, Philippines (25 September 2011)
The recent ASEAN-UN Secretariat
dialogue held in New York was
co-chaired by Dr Surin Pitsuwan,
Secretary-General of ASEAN and Mr
Oscar Fernandez-Taranco, Assistant
Secretary-General of the UN.
SECRETARIATS OF ASEAN AND
UN FOSTER CLOSER TIES
ASEAN
The meeting was attended by
representatives of key UN specialised
agencies including UNDPA, ESCAP, CTED,
OCHA, UNDP, DPKO, and OHCHR
The meeting reviewed the progress
on six areas of cooperation: (i) attaining
the Millennium Development Goals and
narrowing the development gaps within
ASEAN; (ii) promotion and protection of
human rights; (iii) peace and security; (iv)
collaboration on disaster management; (v)
Master Plan on ASEAN Connectivity; (vi)
coordination mechanism and Secretariat-to-
Secretariat dialogue
Asean Secretariat (28 September 2011)
26 0309 10‘11 ‘11
DISCLAIMER: The news articles contained in this report are extracted and republished from various credible news sources. As such, CIMB ASEAN Research Institute (CARI) does not make any guarantee, representation or warranty, express or implied, as to the adequacy, accuracy, completeness, reliability or fairness of any such information and opinion contained in this report. Should any information be doubtful, readers are advised to make their own independent evaluation of such information.
03
05
Indonesian Foreign Minister Marty
Natalegawa urged ASEAN to concentrate
on implementing existing resolutions
already passed by the member states
rather than pass new ones. During a roundtable meeting at the
Council on Foreign Relations (CFR) in New
York, Marty said a number of resolutions
still needs to be implemented
Indonesia had set three priority goals
towards making ASEAN a community:
(i) be effective in resolving our internal
differences; (ii) build transparent
architecture renouncing the use of force;
(iii) integrate and unite on international
issues by speaking with one clear voice
The forthcoming East Asia Forum, with
ASEAN as its centrepiece, is a major
platform to demonstrate ASEAN’s voice
Bernama (28 September 2011)
ASEAN
URGED TO
APPLY EXISTING
RESOLUTIONS
INSTEAD OF
CREATING NEW ONES
ASEAN
ASEAN
ASEAN celebrated World Tourism Day
on 27 September 2011; meanwhile its
tourism sector has enjoyed double-
digit growth in recent years and
integrative involvement from both the
public and private sectors. ASEAN hosts holiday destinations such as
Bali, Phuket, Langkawi, Borobudur, Prambanan,
Angkor Wat, and the Petronas Twin Towers
“As part of the ASEAN Tourism Strategic
Plan 2011-2015, member countries are now
ASEAN
TOURIST
INDUSTRY IS
BOOMING WITH
INTRA-ASEAN
TRAVELERS
Global financial uncertainties may
scare investors and cause capital
outflows from developing countries,
including Thailand, which need
capital to boost domestic economies,
said Thai Finance Minister Thirachai
Phuvanatnaranubala at the annual
IMF and World Bank meeting on 22-
24 September 2011. The major concern at the meeting was the
Thailand
state of the US and European economies,
struggling with huge public, bank, and
household debt undermining investor
confidence worldwide
The uncertainties are expected to be
short-term, if world leaders can implement
effective solutions
Export-oriented economies have been
advised to boost domestic consumption
and investment to counter an expected
slowdown in exports
The Nation (26 September 2011)
THAILAND FEARS
INVESTMENT DROUGHT04
jointly promoting the whole region to
attract tourists from non-ASEAN countries”
(Pushpanathan Sundram, Deputy Cecretary-
General, ASEAN Economic Community)
Private efforts to promote intra-ASEAN
tourism include budget carrier Air Asia
X’s recruitment of cabin crew from all
ASEAN countries and the regional tourism
campaign “Southeast Asia: Feel the
Warmth” by the ASEAN Tourism Forum
The Jakarta Post (27 September 2011)
26 0309 10‘11 ‘11
DISCLAIMER: The news articles contained in this report are extracted and republished from various credible news sources. As such, CIMB ASEAN Research Institute (CARI) does not make any guarantee, representation or warranty, express or implied, as to the adequacy, accuracy, completeness, reliability or fairness of any such information and opinion contained in this report. Should any information be doubtful, readers are advised to make their own independent evaluation of such information.
06ASEAN members have called on
Indonesia to ratify the Transboundary
Haze Pollution agreement, to allow
other ASEAN countries to assist
Indonesia in combating the annual
haze caused by its forest fires. The discussion took place at the Subregional
Ministerial Steering Committee’s 12th
meeting on Transboundary Haze Pollution
in Bangkok on 23 September 2011
Supat Wangwongwattana (Director
General, Pollution Control Department)
acknowledges that Indonesia has
postponed the ratification of the
agreement several times, despite pleas
ASEAN URGES INDONESIA TO
SIGN POLLUTION PACT
Indonesia
from ASEAN governments
Every year, during the months of August
and September, four provinces in the South
of Thailand are covered in smoke from
Indonesian forest fires, causing respiratory
problems among residents
Arief Yuwono from the Indonesian
Environment Ministry’s Degradation Control
and Climate Change told the meeting that
his government has implemented measures
to control haze pollution which include prevention
and control of forest fires, a zero-burning
campaign, and enforcement of new laws on
plantation, environment and forestry
The Nation, Thailand (24 September 2011)
07
Thailand
THAILAND’S
AUTO
INDUSTRY TO
BE CENTRE OF
THE ASEAN
MARKET
Thailand’s manufacturing
capabilities and industrial
infrastructure has attracted
strategic R&D and
manufacturing investments from
GM, Nissan, and American Axle
and Manufacturing (AAM). These companies seek to use
Thailand’s strategic position in the
auto industry as a gateway to the
ASEAN Economic Community
GM opened a US$200 million diesel
engine plant to produce engines for
the Chevrolet Colorado in Rayong,
Thailand on 9 September 2011, and
expects to buy US$94 million worth
of local components, bringing its
total investment in Thailand to US$1.3
billion since 1998
In July 2011, Nissan established its
new regional strategic headquarters
in Thailand to carry out its six-year
development plan for the ASEAN
region, set to triple unit sales to
500,000 units in 2016
Nissan plans to partner with the
Japanese Automatic Transmission
Company on a US$250 million
manufacturing plant to produce
continuously-variable transmission
(CVT) units in Thailand
AAM opened a new 138,000 sq ft
facility in Rayong to expand its Asian
presence for driveline and drivetrain
systems in the automotive industry
AMM is leveraging Thailand’s
position as the second largest pickup
truck market in the world that will
provide the necessary infrastructure
for clients in the ASEAN region
Thailand Business News(28 September 2011)
ASEAN’S TRANS BOUNDARY POLLUTION AGREEMENTS
26 0309 10‘11 ‘11
DISCLAIMER: The news articles contained in this report are extracted and republished from various credible news sources. As such, CIMB ASEAN Research Institute (CARI) does not make any guarantee, representation or warranty, express or implied, as to the adequacy, accuracy, completeness, reliability or fairness of any such information and opinion contained in this report. Should any information be doubtful, readers are advised to make their own independent evaluation of such information.
08
Myanmar is steadily dismantling its
rigid trade policies to attract foreign
investment in its effort to shape
its economy and compete with its
ASEAN neighbours. Myanmar’s Federation of Chambers of
Commerce and Industry, president Win
Aung, has said that major reforms are in
the pipeline
According to Aung, the liberalisation of
trade policies has begun in earnest, with
laws for FDIs and land lease to be made
very flexible
Aung welcomes foreign private
companies to form partnerships with local
firms in Myanmar
Bernama (28 September 2011)
MYANMAR
REFORMS,
INVITES FOREIGN
INVESTORS
Myanmar
1 0Thai experts do not expect
dramatic changes in ASEAN from
the implementation of the ASEAN
Economic Community (AEC) in 2015,
due to legal difficulties.
2015 AEC NOT TO MAKE MUCH
CHANGE IN REGION: EXPERTS
Thailand, ASEAN
Dr. Veerathai Santiprabhob (Former
Economist at the International Monetary
Fund) says in order for Thailand to
integrate into AEC, it needs to draft many
new laws as present ones are not compliant
Laws and regulations which require
revision must get parliamentary approval–
Dr. Kitti Prasertsuk (Lecturer, Political
Science Faculty, Thammasat University)
says these delays are a major impediment
of the AEC
Arin Jira (Deputy-Secretary General of the
Federation of Thai Industries) said ASEAN
lacks sovereign power to implement its
agreements, hence national interest could
prevail over collective ones
Dr. Kitti urged the government to
concentrate on public relations to equip
the private sector with knowledge and
understanding on the benefits of the AEC, to
maximise its opportunities and manage risks
Xinhua (27 September 2011)
09ASEAN’s military intelligence
officials agreed to widen cooperation
in fighting Islamic militancy through
sharing and exchanging experiences
ASEAN AGREES DATA-SHARING
TO FIGHT ISLAMIST MILITANTS
ASEAN
and information, at a recent military
intelligence exchange in Manila. Officials agreed to design and adopt
common standards to manage threats from
al Qaeda-linked Islamic militants active in
the region
Major-General Francisco Cruz (Head
of Intelligence, Philippines Military) said
ASEAN is building a regional database to
help its members identify and track down
known militants from Indonesia, Malaysia,
Thailand, Singapore and the Philippines
In recent weeks, Islamic militants sought
to ignite sectarian violence in Indonesia
after bombs exploded in a Catholic church
and Muslim rebels in the Philippines
stepped up attacks on military targets in
southern areas
The Economic Times (28 September 2011)