Indonesia on Oct. 25 stressed the importance of economicharmonisation and integration in the Association of Southeast AsianNations (ASEAN), saying this would help the 10-member group to competewith its bigger economies.
Michael Tene, Foreign Ministry’sspokesman of Indonesia , which holds ASEAN Chairmanship in 2011, saidthe two instruments are crucial as currently, intra trade among ASEANcountries is 25-30 percent of total trade of ASEAN and the world.
Economicintegration in ASEAN allows bloc to compete with bigger economies suchas India and China , he said, adding if each member economy standsalone, their economic scale is much smaller compared to both countries.
However,every country retains its role, different with the European Union asmember countries give some parts of their sovereignty and authority toEuropean Commission, he said, adding ASEAN is not a supra national body.Power stays in its member countries.
Intra trade between ASEANcountries reached 470 billion USD in 2008, down to 376.2 billion USD dueto crisis and increased to 519.7 billion USD in 2010./.
Michael Tene, Foreign Ministry’sspokesman of Indonesia , which holds ASEAN Chairmanship in 2011, saidthe two instruments are crucial as currently, intra trade among ASEANcountries is 25-30 percent of total trade of ASEAN and the world.
Economicintegration in ASEAN allows bloc to compete with bigger economies suchas India and China , he said, adding if each member economy standsalone, their economic scale is much smaller compared to both countries.
However,every country retains its role, different with the European Union asmember countries give some parts of their sovereignty and authority toEuropean Commission, he said, adding ASEAN is not a supra national body.Power stays in its member countries.
Intra trade between ASEANcountries reached 470 billion USD in 2008, down to 376.2 billion USD dueto crisis and increased to 519.7 billion USD in 2010./.
