February 20, 2009
Bangkok (Own Source) – Southeast Asian region is focused since it is seen as a possible source of economic recovery, according to Finance Minister Korn Chatikavanij.
Korn considered that the ASEAN Finance Ministers meeting in Phuket was “very timely” due to the global economic crisis.
"ASEAN is increasingly the focus of the rest of the world," Korn told AFP ahead of the meeting, which precedes a full ASEAN summit in Thailand from February 27 to March 1.
Asia is seen as the best choice in terms of driving economic revival.
It is possible that South Korean and Chinese finance ministers will attend the meeting here whereas Japan’s new finance Kaoru Yosano will send one of his deputies to join.
The progress of a proposal to set up a multi-billion dollar fund to help countries in the region cope with financial crises is expected to top the agenda.
Thailand plans to propose that ASEAN should extend the eventual fund to 120 billion dollars, up from the initially agreed figure of 80 billion dollars, according to AFP.
