7TH ASIA ECONOMIC FORUM:

Asia’s Search for Leadership Synergy

By Premjith Sadasivan, Singapore Ambassador to Cambodia

BROAD STORY OF ASIA

Strong focus on development since 1960s Striking continuity of high growth in ASEAN

- Sustained Increases in GDP, Trade And Investments Opening Up and Rise of China and India Stable Big Power Relationships in Asia Global Political and Economic Order Becoming More

Fluid

- e.g. G7-led vs G20-led process

HETEROGENEOUS ASIA

4 poles: China, India, Japan and ASEAN Maritime and territorial disputes amongst

Asian countries Economic disparities/differentials in the region ASEAN’s catalytic role in diffusing risks

through multiple institutional frameworks and anchoring major powers stably in the international system

ASEAN AT THE CORE OF REGIONAL INTEGRATION

Convener and Facilitator of Inter-State Relations: - Building of Asean and East Asian Communities- Regional Fora - ASEAN Regional (Security) Forum,

ASEAN+3, ASEAN+6 (EAS)- Various Functional cooperation initiatives such as

Chiang Mai Initiative, ASEAN + 3 Free Trade Agreement, as well as comprehensive economic partnership for EAS (ASEAN +6)

Master Plan on ASEAN Connectivity – road, rail, sea and air.

Medium and Long Term Benefits

With better connectivity, comes a new virtuous economic cycle – new economic corridors leading to more trade, tourism, capital and investments

More importantly, this might lead to closer political cooperation and new agreements

Progressively, higher level of regional consciousness

What More Can We Do To Achieve Synergy

Synergy from regional integration – shared interests Need to Move Faster on FTAs and ASEAN

Connectivity External Dimension to ASEAN Connectivity Build a resilient regional architecture that can

moderate, balance and mediate across different theatres – political, economic and security

Constant adaptation and adjustment by ASEAN of frameworks and processes in times of change

What More Can We Do to Achieve Synergy

Work towards a stable multipolarity with ASEAN at the centre

Commitment to coordinate issues that have global significance

Forge stronger institutional links between regional and international groupings

Keep markets open and resist the return to protectionism in times of economic crises