DAP: The breaking news in Cambodia: “Economic issues to dominate ASEAN Summit: Secretary-General” plus 5 more

PHNOM PENH, Nov. 17 -- Economic issues are likely to be high on the agenda of the upcoming 21st Association of Southeast Asian Nations (ASEAN) Summit and related summits, ASEAN Secretary-General Surin Pitsuwan said Saturday.

Speaking at a press briefing on the sidelines of the ASEAN Foreign Ministers' Meeting (AMM) at the Peace Palace in Phnom Penh, Pitsuwan said that the gathering is important not only for ASEAN, but also for East Asia and global community as a whole.

The Phnom Penh summit will witness the emergence of the Regional Comprehensive Economic Partnership (RCEP).

Through the initiative, "ASEAN's five existing free trade agreements with six countries (China, Japan, South Korea, India, Australia and New Zealand) in the region would be brought under one umbrella agreement, " Pitsuwan said.

Apart from economic integration, issues such as maritime security, energy, climate change, education, human resource development will also be discussed.

A forum held annually by leaders of initial 16 countries in the East Asian region, East Asia Summit expanded its membership last year to include the United States and Russia.

Newly re-elected U.S. President Barack Obama will arrive in Cambodia on Monday to hold talks with Prime Minister Hun Sen and attend a summit meeting with ASEAN leaders and the 7th East Asia Summit.

Being an open and free forum, any issues could be brought forward at the summit, said ASEAN secretary-general.

He also expressed hope that related talks could be conducted in a constructive, supportive, encouraging and hopeful way.

"We'll focus on positive advance into the future about cooperation and coordination, mutual confidence-building and carrying forward the spirit of cooperation," Pitsuwan said.

The 21st ASEAN Summit and related Summits will be held on Nov. 18-20 at the Peace Palace in Phnom Penh, gathering heads of state and government from 10 ASEAN nations and eight ASEAN dialogue partners.

The heads of the Asian Development Bank, the United Nations Conference on Trade and Development, the International Monetary Fund, and the World Trade Organization will also take part in the meeting series. (Xinhua)

PHNOM PENH, Nov. 17 (Xinhua) -- More than 800 government officials, business executives, international institution representatives, and academia from the Association of Southeast Asian Nations (ASEAN) gathered here on Saturday to discuss ways to broaden business and investment opportunities in the ten-nation bloc.

Speaking at the opening of the 10th ASEAN Business and Investment Summit 2012, Cambodian Prime Minister Hun Sen, Chair of ASEAN in 2012, said that the Summit was a good opportunity to discuss and strengthen cooperation and partnership between the governments and private sectors in order to promote business and investment in industries.

He said that ASEAN has been playing a more important role in the region and the world and the bloc's economies grew well in recent years despite the impacts of economic and financial crisis in Europe and the United States.

The premier also urged ASEAN to expedite efforts to deepen regional integration toward building an ASEAN community by 2015.

Speaking on the business and investment climate in Cambodia, Hun Sen said, situated in the Greater Mekong Sub-region and ASEAN, Cambodia is an integral part of the process of creating one of the world's largest consumer markets, which will enable all of Southeast Asia to enter a new era of cooperation and prosperity to the benefit of societies.

"Moreover, Cambodia has a incentive policy and preferential atmosphere for businessmen and investors, so I'd like to appeal to private sector to come to Cambodia for exploring investment possibilities," he said.

He believed that the two-day Summit would produce fruitful results in making better the business and investment opportunities in ASEAN and Cambodia.

Cambodia's Minister of Commerce Cham Prasidh said that over the course of two days, there would be a business-to-business dialogue, a governments-to-business dialogue and international organizations, governments to business dialogue, back to back with the 21st ASEAN Summit in Phnom Penh.

"The Summit will certainly add a significant dimension to the ASEAN Summit as it will provide a platform for leaders and ministers to directly engage with business leaders, and for business leaders to be better informed about the policy agenda and to profile their interests," he said.

Kith Meng, president of Cambodia's Chamber of Commerce and chair of ASEAN Business Advisory Council in 2012, said that this was the first time the Business Summit has been held in Cambodia and it was also the right time for businessmen to explore Cambodia, a country of pro-business policy and economic stability with the annual growth rate of 7.1 percent last year and a projected growth of 7 percent this year.

"The Summit aims at promoting private sector growth in one of the most prosperous region in the world, as well as socializing the dreams of an ASEAN Economic Community by 2015," he said.

The Summit will look into the four of the most crucial areas that will determine the future of ASEAN businesses, he said. Those are the potential of renewable energy in ASEAN, capitalizing ASEAN connectivity, accessing capital for growth and innovation.

Kith Meng said ASEAN sits at the very heart of Asia. If ASEAN were a single country, it would be the 9th largest economy in the world, with close 10 percent, or 600 million, of the world's population, with a combined GDP of 1.9 trillion U.S. dollars.

"ASEAN is both a market for the developed world's products and the location of their production facilities," he said.

Founded in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

BEIJING, Nov. 17 (Xinhuanet) -- Cambodia is making final preparations for the upcoming 21st Association of Southeast Asian Nations Summit.

The three-day summit will be held on November 18th at the Peace Palace in Phnom Penh, the capital of Cambodia. It will bring together leaders and delegates from the ten ASEAN members and ASEAN's dialogue countries, including China, Japan, South Korea, the US, Russia, India, Australia and New Zealand.

Chinese Premier Wen Jiabao will attend a series of meetings and make an official visit to Cambodia. The ASEAN summit is expected to launch the Regional Comprehensive Economic Partnership, a more ambitious trade plan designed to strengthen economic ties among the grouping. Regional security issues, including the South China Sea issue will also be on the agenda.

Singapore's former Prime Minister Lee Kuan Yew (R) shakes hands with U.S. Secretary of State Hillary Clinton in Singapore's Istana, on Nov. 16, 2012. (Xinhua/Then Chih Wey)

SINGAPORE, Nov. 16 (Xinhua) -- The U.S. Secretary of State Hillary Clinton arrived in Singapore on Friday for consultations with Singapore's leaders ahead of the upcoming East Asia Summit in Cambodia.

Clinton met with former Minister Mentor Lee Kuan Yew at the Istana in the afternoon, local broadcaster Channel NewsAsia said.

A photo released by the Ministry of Foreign Affairs showed Clinton at dinner hosted by Singapore's Foreign Affairs and Law Minister K Shanmugam.

She is expected to meet Prime Minister Lee Hsien Loong and deliver a speech on the U.S. economic strategy on Saturday before joining U.S. President Barack Obama in Cambodia for the summit.