ASEAN members need more reforms

REGIONAL ECONOMY The Australian Foreign Minister warned that another financial crisis looms if countries in the region don't start making changes soon

AFP , SINGAPORE

"It's not such a good idea if that principle of non-interference is translated into non-action when there are problems."

Downer said Australia was still as committed as ever to a free trade agreement with ASEAN even though the grouping last year rejected the set up of a taskforce to look into the feasibility of such a pact.

"I repeat today that we still are this day ... we are still prepared to enter into negotiations with all of the ASEAN countries for a free trade agreement," Downer said.

"And that will be a very good outcome for ASEAN and a very good outcome for Australia."