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China's Access to WTO Poses No Threat to Southeast Asia: Singapore PM
Singapore Prime Minister Goh Chok Tong affirmed November 24 that China's upcoming entry into the World Trade Organization (WTO), instead of posing a threat to the Association of Southeast Asian Nations (ASEAN), represents an opportunity for the regional grouping because of China's opening up.
Answering a question from Xinhua at a press conference following a meeting of the eastern Asian leaders (10+3) at the afternoon, Goh said, "China made a point that its entry into WTO is not a threat to ASEAN but an opportunity to ASEAN because of its opening up. I agree with that."
Goh said China has a lot of trade with ASEAN countries, which looks more than opportunities than threats.
"I am of the view that it is a challenge for us but not threat," he added.
The prime minister confirmed that discussions conducted by leaders at the 10+3 meeting covered competition between northeastern Asian countries and ASEAN and the leaders were conscious of the gap between northeastern Asia and ASEAN and the potential for the gap to widen.
He emphasized that progress will be made out of competition, saying, "Competition leads to growth and growth leads to opportunities."
Goh also said ASEAN wants northeastern Asia to grow, adding that the greater the growth in northeastern Asia, the bigger is their potential for Southeast Asia because fund is available from there.
Leaders from ASEAN and China, Japan and Korea attended the 10+3 session.
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