English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping
English websites of Chinese embassies

Home >> World
UPDATED: 08:02, December 07, 2006
Single currency not in ASEAN Summit agenda
font size    

Single currency would not be a topic at the Association of Southeast Asian Nations (ASEAN) Summit meetings, an official said on Wednesday in Cebu.

"Monetary integration is not on the table," Philippine Foreign Affairs Assistant Secretary Louie Cruz told a press conference at the Cebu International Convention Center, one of the major meeting venues for the 12th ASEAN Summit.

Instead, the ASEAN leaders would likely discuss more extensively ways and means to boost regional economies through the free trade zones scheme, according to Cruz, who added that the agenda of the leaders meeting include social-cultural, anti- terrorism, and economic concerns.

"There would be economic agreements to support previous agreements on the ASEAN Free Trade Agreement or AFTA", he said.

Ambassador Victorino Lecaros, spokesman of the Summit, also said it is impossible at this time for the ASEAN member states to adopt a common currency system as there are several concerns derived from political and economic diversity that must be addressed before the ambitious proposal could take off.

The idea of a single currency for the ASEAN was first raised during the Hanoi Action Plan in 1997 when the region was reeling from a financial crisis.

Established in 1967, ASEAN groups Brunei, Cambodia. Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Source: Xinhua

Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this

- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved