Economic Convergence 2015 Based On Asean Way, Says Malaysian PM Najib

By Ahmad Fuad Yahya JAKARTA, Dec 2 (Bernama) -- Prime Minister of Malaysia Najib Tun Razak says Asean will remain as a community of nations in the foreseeable future as it moves towards greater economic convergence by 2015. He said lessons learnt from the current economic crisis in Europe was that Asean should not do the European way. "It has been stressed that Asean is a community of nations. It is not a union. Another premise is that Asean works on the basis of a consensus. That is the Asean way," he said in a question-and-answer article in the latest issue of the Tempo Magazine published here. The interview was held on the sidelines of the 19th Asean Summit and Related Summits in Nusa Dua, Bali, recently. In the article entitled "Malaysian Prime Minister Najib Razak: Asean must collaborate for geopolitical and economic reasons", the Prime Minister said Asean would continue to be predicated on the two principles as it grew in the foreseeable future. On whether a single currency for Asean will be a bad idea, Najib said: "You cannot have a single currency without having a political union to manage the macro and financial management of the country's concerns. "Unless you have a political union in the true sense of the word, you should not have a single currency." Najib viewed the joining of the United States and Russia into the East Asia Summit (EAS) as an opportunity for Asean to integrate itself with the global economy and at the same time the forum could lead to better relations among countries grouped in the EAS. "(The) US is a big market and the fact that we are part of the TPP (Trans-Pacific Partnership) process, means Asean itself or certain countries in Asean, can integrate with the global economy. This is what we hope to do," he said. The Prime Minister said Asean was independent and although its relationship with the United States was getting stronger at all levels, it did not mean they (Asean member states) would have to agree on every single issue. "There are times when we differ on issues, but we should not be disagreeable," he said. On how Asean will deal with the tension between the Philippines and China on the South China Sea issue, Najib said that as a group of 10 nations, Asean could certainly have a collective stand. "It is important for Asean to collaborate together for geopolitical and economic reasons," he added. -- BERNAMA