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Mon, Apr 06, 2009 - Page 10 News List

ASEAN summit to discuss G20 plans to combat world recession: Thai PM


Southeast Asian countries and key regional partners will use a summit next week to discuss their follow-up to a G20 plan to lift the world out of recession, the Thai prime minister said yesterday.

The summit of the 10-member ASEAN plus dialogue partners China, Japan, South Korea, India, Australia and New Zealand will take place in the Thai resort of Pattaya from Friday until next Sunday.

It comes just over a week after the G20 developed and emerging economies agreed at a key meeting in London to commit US$1 trillion to the IMF and other global bodies.

“We will discuss what we can achieve from the G20 Summit,” said Thai Prime Minister Abhisit Vejjajiva, who attended the London conference as an observer because his country currently holds the rotating chairmanship of ASEAN.

The Pattaya summit will be followed by a Global Dialogue in Bangkok on Sunday featuring UN Secretary General Ban Ki-moon and the chiefs of the IMF, World Bank and WTO.

The G20 summit pledged a huge raft of new spending and a crackdown on tax havens and excess corporate pay to battle the economic slowdown sweeping the globe.

Asia is feeling the pinch from the crisis, with the Asian Development Bank forecasting recently that growth in the region’s developing nations will almost halve this year.

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