Trade and The Comprehensive Economic Partnership in East Asia (CEPEA)
Trade is an important focus for the summit.
As to trade and regional integration the following was noted in the Chair's report for the Second EAS:
12. We welcomed ASEAN's efforts towards further integration and community building, and reaffirmed our resolve to work closely together in narrowing development gaps in our region. We reiterated our support for ASEAN's role as the driving force for economic integration in this region. To deepen integration, we agreed to launch a Track Two study on a Comprehensive Economic Partnership in East Asia (CEPEA) among EAS participants. We tasked the ASEAN Secretariat to prepare a time frame for the study and to invite all our countries to nominate their respective participants in it. We welcomed Japan's proposal for an Economic Research Institute for ASEAN and East Asia (ERIA).
The reality appears however that movement towards such a relationship is a long way-off. Lee Kuan Yew has compared the relationship between South-East Asia and India with that of the European Community and Turkey, and has suggested that a free-trade area involving South-East Asia and India is 30 to 50 years away.
The members of EAS agreed to study the Japanese proposed Comprehensive Economic Partnership in East Asia (CEPEA). The Track Two report on CEPEA is due to be completed in mid-2008 and at the Third EAS it was agreed this would be considered at the Fourth EAS.
As noted above the Second EAS welcomed the Economic Research Institute for ASEAN and East Asia (ERIA). It was subsequently announced that the ERIA would be established in November 2007 and confirmed at the Third EAS.
The Declaration of the Fifth Anniversary of the East Asia Summit issued at the Fifth EAS provided the Summit declared:
3. To redouble efforts to move progress and cooperation in the EAS further forward, including in the priority areas and in the promotion of regional integration through supporting the realisation of the ASEAN Community and such initiatives as the ASEAN Plus FTAs and other existing wider regional economic integration efforts including studies on East Asia Free Trade Area (EAFTA) and Comprehensive Economic Partnership in East Asia (CEPEA);
Read more about this topic: East Asia Summit
Famous quotes containing the words trade, economic, partnership, east and/or asia:
“...I lost myself in my work and never felt that marriage would give me the security I wanted. I thought that through the trade union movement we working women could get better conditions and security of mind.”
—Mary Anderson (1872–1964)
“Politics at all times lead to bloody wars, and not only politics, but also religions as well as social and economic systems of all times are spattered with blood. Invariably the big ones devoured the little ones, and the little ones the tiny ones.”
—Friedrich Dürrenmatt (1921–1990)
“Nevertheless, no school can work well for children if parents and teachers do not act in partnership on behalf of the children’s best interests. Parents have every right to understand what is happening to their children at school, and teachers have the responsibility to share that information without prejudicial judgment.... Such communication, which can only be in a child’s interest, is not possible without mutual trust between parent and teacher.”
—Dorothy H. Cohen (20th century)
“Then Moses stretched out his hand over the sea. The LORD drove the sea back by a strong east wind all night, and turned the sea into dry land; and the waters were divided. The Israelites went into the sea on dry ground, the waters forming a wall for them on their right and on their left.”
—Bible: Hebrew, Exodus 14:21,22.
“I have no doubt that they lived pretty much the same sort of life in the Homeric age, for men have always thought more of eating than of fighting; then, as now, their minds ran chiefly on the “hot bread and sweet cakes;” and the fur and lumber trade is an old story to Asia and Europe.”
—Henry David Thoreau (1817–1862)