Saudi Crown prince and Zelenskyy discuss Ukrainian-Russian crisis in phone call    Saudi Arabia rejects Israeli claims over map published by Israeli official accounts    Islamic Arts Biennale 2025 to witness first-ever display of full kiswah of Kaaba outside Makkah city    King Salman and Crown Prince offer condolences to Chinese president over earthquake victims    Saudi Arabia tops in venture capital investment, with SR2.8 billion, in MENA in 2024    GASTAT: Local vegetable production accounts for 80.6% of total supply    Energy minister: New law to build a legislative framework for Saudi energy sector    Saudi Arabia launches "Our Winter is Rural" initiative to promote rural tourism and sustainable development    KSrelief distributes relief aid in Syrian city    Iqama of dependents of expatriates and house workers can extend from outside Saudi Arabia    US accuses RSF of Sudan genocide and sanctions its leader    Oman aims for metro project by 2032, minister says    Trump Jr arrives in Greenland amid father's interest in seizing the island    Rajković shines as Al-Ittihad edge Al-Hilal in dramatic King's Cup quarter-final    Al-Qadsiah secures spot in King's Cup semi-finals with dominant win over Al-Taawoun    Barcelona and Athletic Bilbao arrive in Jeddah ahead of Spanish Super Cup semi-final    Saudi Arabia announces dates and venues for AFC Asian Cup 2027    Golden Globes 2025: France's 'Emilia Pérez' wins big, as 'The Brutalist' nabs major awards    Alabama nursing student wins Miss America 2025    Demi Moore continues comeback with Golden Globe win    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ASEAN leaders urge unity to beat financial crisis
Published in The Saudi Gazette on 02 - 03 - 2009

Southeast Asian leaders called Sunday for urgent cooperation and reform to tackle the global financial crisis, as they pushed on with their dream of forming an EU-style community by 2015.
Leaders from the 10-member Association of Southeast Asian Nations (ASEAN) issued a joint statement on the meltdown on the final day of a summit that has been dominated by concerns about their export-driven economies.
In the statement they called for “bold and urgent reform of the international financial system” to tackle the worsening crisis, while agreeing to “stand firm against protectionism.”
They further urged developed and developing countries to show “more coordinated action... to restore financial stability and ensure the continued functioning of financial markets.”
The leaders also signed a declaration on setting up an ASEAN community within the next six years that is aimed at protecting the diverse bloc of around 570 million people from future economic turmoil.
Thai Premier Abhisit Vejjajiva, who is also currently chairman of ASEAN, said the leaders “have sent a clear signal about our guidelines to solve economic problems in the region.”
He outlined further steps in a press conference, including that ASEAN members should keep each other informed of their economic policies and closely monitor for any hints of protectionism.
ASEAN, with a combined gross domestic product of around 1.4 trillion dollars, had until recently been a relative bright spot in the world economy.
But because the region is largely dependent on exports, it is at the mercy of the chaos in the rest of the world's economies.
Singapore is already in recession and Thailand's economy shrank in the last quarter of 2008.


Clic here to read the story from its source.