7 TH ASIA ECONOMIC FORUM: Asia’s Search for Leadership Synergy By Premjith Sadasivan, Singapore Ambassador to Cambodia

BROAD STORY OF ASIA Strong focus on development since 1960s Strong focus on development since 1960s Striking continuity of high growth in ASEAN Striking continuity of high growth in ASEAN - Sustained Increases in GDP, Trade And Investments Opening Up and Rise of China and India Opening Up and Rise of China and India Stable Big Power Relationships in Asia Stable Big Power Relationships in Asia Global Political and Economic Order Becoming More Fluid Global Political and Economic Order Becoming More Fluid - e.g. G7-led vs G20-led process

HETEROGENEOUS ASIA 4 poles: China, India, Japan and ASEAN 4 poles: China, India, Japan and ASEAN Maritime and territorial disputes amongst Asian countries Maritime and territorial disputes amongst Asian countries Economic disparities/differentials in the region Economic disparities/differentials in the region ASEAN’s catalytic role in diffusing risks through multiple institutional frameworks and anchoring major powers stably in the international system ASEAN’s catalytic role in diffusing risks through multiple institutional frameworks and anchoring major powers stably in the international system

ASEAN AT THE CORE OF REGIONAL INTEGRATION Convener and Facilitator of Inter-State Relations: Convener and Facilitator of Inter-State Relations: - Building of Asean and East Asian Communities - Regional Fora - ASEAN Regional (Security) Forum, ASEAN+3, ASEAN+6 (EAS) - Various Functional cooperation initiatives such as Chiang Mai Initiative, ASEAN + 3 Free Trade Agreement, as well as comprehensive economic partnership for EAS (ASEAN +6) Master Plan on ASEAN Connectivity – road, rail, sea and air. Master Plan on ASEAN Connectivity – road, rail, sea and air.

Medium and Long Term Benefits With better connectivity, comes a new virtuous economic cycle – new economic corridors leading to more trade, tourism, capital and investments More importantly, this might lead to closer political cooperation and new agreements Progressively, higher level of regional consciousness

What More Can We Do To Achieve Synergy Synergy from regional integration – shared interests Need to Move Faster on FTAs and ASEAN Connectivity External Dimension to ASEAN Connectivity Build a resilient regional architecture that can moderate, balance and mediate across different theatres – political, economic and security Constant adaptation and adjustment by ASEAN of frameworks and processes in times of change

What More Can We Do to Achieve Synergy Work towards a stable multipolarity with ASEAN at the centre Work towards a stable multipolarity with ASEAN at the centre Commitment to coordinate issues that have global significance Commitment to coordinate issues that have global significance Forge stronger institutional links between regional and international groupings Forge stronger institutional links between regional and international groupings Keep markets open and resist the return to protectionism in times of economic crises Keep markets open and resist the return to protectionism in times of economic crises