SINGAPORE -- Optimism for East Asian integration and community building ran high at the conclusion of the 10th ASEAN Summit on Nov. 30 in Vientiane, Laos, and the back-to-back meetings between the 10-member Association of Southeast Asian Nations and its Asia-Pacific partners -- China, Japan, South Korea, India, Australia and New Zealand. The year 2005 may see a firm foundation laid for an East Asian community after seven developments:
First, ASEAN leaders in Vientiane decided to speed up economic integration by signing pacts calling on the "original" five ASEAN countries -- Indonesia, Malaysia, Philippines, Singapore, Thailand -- and Brunei to abolish trade tariffs in 11 sectors by 2007 (three years ahead of schedule). These 11 sectors constitute more than half of current intra-ASEAN trade. The other four economies -- Vietnam, Cambodia, Laos and Myanmar -- will join the pact by 2015 (five years ahead of schedule).
Second, the four newer ASEAN members held a pre-summit meeting and pledged to work together to narrow the wealth gap with other members. They also pledged to move quickly toward linking their four economies and attracting foreign investment. Their first summit-level meeting within the greater ASEAN framework marked recognition of a "two-tier ASEAN."