Southeast Asian leaders yesterday called for vital road, sea and air links to be built more quickly to accelerate economic recovery and boost the region’s competitiveness.
In a statement at the close of a two-day summit, they also pledged greater efforts in the development of information and communications technology as well as in the energy sector.
“We re-affirm the importance of regional infrastructure development and enhancing connectivity that will play a crucial role in achieving sustainable global economic recovery through enhanced trade, investment, tourism and development,” the statement said.
Infrastructure development will help develop the region’s “connectivity” and reinforce the bloc’s position “as a hub of the East Asian region for transport, information technology, tourism, energy and logistics.”
“We task the relevant ministers ... to expedite the completion of the vital physical road, rail, air, inland waterways, sea, gas and power linkages within ASEAN,” leaders of the 10-member bloc said.
Vietnam, the current chair of ASEAN’s revolving leadership, has made connectivity a key issue during its one-year tenure.
Analysts say the physical and telecommunication links will complement ASEAN’s efforts to tear down trade barriers and help its goal of establishing by 2015 a single market and manufacturing base of about 600 million people.
A regional effort to link a series of undersea natural gas pipelines has yet to be realized largely because of funding problems — the same woes that have beset plans for a railway line running from Singapore to Myanmar.
The region’s finance ministers have agreed in principle to establish an infrastructure fund, Vietnamese Prime Minister Nguyen Tan Dung said in a speech at the close of the summit. Such a facility could help to address funding shortages.
A senior IMF official last month cited figures that show Asia-Pacific countries need to invest up to US$8 trillion in infrastructure over the next decade.
The leaders asked a “high-level task force” to “develop the masterplan on ASEAN connectivity,” which will contain recommendations, targets and timelines to achieve the goal, the statement said.
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