AEM Meetings In Singapore To Focus On Asean Integration

SINGAPORE, Aug 25 (Bernama) – The 40th Asean Economic Ministers (AEM) and Related Meetings will focus on Asean integration issues and Asean’s relations with dialogue partners.

The event scheduled in Singapore from Aug 25 to 29, will be attended by 24 ministers from the Asean and Asia Pacific countries, according to a statement released by the Ministry of Trade and Industry, Singapore.

The ministers atttending include Malaysia’s Minister of International Trade and Industry Tan Sri Muhyiddin Yassin as well as other ministers from Brunei, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Vietnam, Japan, China, Korea, India, Australia and New Zealand.

Asean’s new secretary-general, Dr Surin Pitsuwan who assumed his post on January 7 this year, will be also attending the 40th AEM in Singapore.

The AEM and related meetings this year, hosted by Singapore, will witness Singapore’s Minister of Trade and Industry, Lim Hng Kiang chairing the meetings.

The opening ceremony will take place Tuesday at the Shangri-La Hotel, Singapore.

Aspirations towards fulfilling the Asean Economic Community (AEC) will be of major significance during the AEM and related meetings. Ministers will look into Asean’s progress in implementing economic integration commitments outlined in the AEC Blueprint, which was signed by leaders at the Asean Summit in Singapore last year.

Discussions on Asean integration issues will centre on the goal of realising an AEC by 2015.

In previous Asean summit, Asean leaders agreed to accelerate the development of the AEC by 2015 and transform Asean into a region with free movement of goods, services, investment, skilled labour and free flow of capital.

The AEC will also cover competition policy, intellectual property rights, infrastructure development, taxation, e-commerce, SME Development, coherent approach towards external economic relations regarding Free Trade Agreements (FTAs) and international treaties and enhanced participation in global supply networks.

At the 40th AEM, ministers will be updated on the enhancements to Asean’s goods and investments agreements and will sign Mutual Recognition Arrangements (MRAs) for professional services of accountancy, dental and medical practitioners.

Ministers will also discuss initiatives to ease business processes in Asean, and will obtain feedback and exchange views with the business community during consultations wth the Business Councils.

Asean Economic ministers will meet with up with several related councils namely the Asean Free Trade Area Council Ministers, the Asean Business Advisory Council and Asean Investment Area Council Ministers.

In addition to this, Consultations of the Asean Economic Ministers with India, Australia, New Zealand and Korea will be conducted. Consultations with dialogue partners will focus on matters pertaining to the FTAs and economic cooperation activities between Asean and its Dialogue partners.

In particular, the ministers will receive updates on the progress of the Asean-India FTA and Asean-Australia-New Zealand FTA.

Ministers will also discuss the status of ongoing negotiations of the Asean-China FTA Investment Agreement, the Asean-Korea FTA Invesment Agreement, and the next steps for the Asean-Japan Comprehensive Economic Agreement that was signed earlier this year.

According to the Asean Trade and FDI Database, 2008, total Asean trade (both intra-and extra-Asean) in 2007 was US$1.6 trillion, a 15 percent increase from 2006.

Intra-Asean trade in 2007 totaled US$404 billion, a 14.5 percent increase from 2006. Intra-Asean trade accounted for 25 percent of total Asean trade and said to be increasing quickly.

Asean’s top five trading partners last year were the EU, the US, Japan, China and the Republic of Korea.

China remains Asean’s fastest growing trading partner with 22 percent growth from 2006 to 2007.

Total (intra- and extra-) foreign direct investment into Asean last year was US$61.5 billion, a 17 percent increase on a year-on-year basis.

Overall, intra-Asean investment last year amounted to US$8.2 billion, 33 percent increase from 2006.

The major sources of intra-Asean investment were Singapore (US$5.7 billion), Malaysia (US$1.3 billion), Thailand (US$0.7 billion) and Indonesia (US$0.2 billion).

The major sources of extra-Asean investment were from the EU (US$14.3 billion), Japan (US$8.9 billion), the US (US$5.1 billion), the Republic of Korea (US$2.7 billion), Australia (US$1 billion) and China (just below US$1 billion).

— BERNAMA

Cambodian anti-corruption law to be submitted to parliament for approval

PHNOM PENH, Aug. 25 (Xinhua) — The long-awaited anti-corruption draft law has been finalized and will be given to the National Assembly (NA) shortly after the new government is formed next month, English-Khmer language newspaper the Cambodia Daily said Monday.

“We have finished the (anti-corruption draft) law. When the penal code is approved, we will submit the anti-corruption (draft law) to avoid any changes,” Khieu Kanharith, Information Minister and government spokesman, was quoted as saying at a press conference here Sunday.

The decision to turn over the draft law to the assembly will likely be made at the first cabinet meeting of the new government, which is scheduled to be formed shortly after NA convenes on Sept.24, he added.

Anti-corruption legislation first reached the assembly in 1994 but has never been passed. The government has placed much of the blame for the delay on the lack of an updated criminal code, saying that such legislation must first be adopted.

Cambodia just concluded its general election in July and the new government is expected to be established one month later. 　 

Editor: An

Foreigners find perks in investment

VNS – August 23, 2008

HCM CITY — Although this year’s rate of investment attraction to Viet Nam is lower than last year’s, the country is still the fifth most attractive destination for manufacturing among emerging markets, according to the second annual PricewaterhouseCoopers (PwC) Emerging Market 20 Index.

The index shows that the BRIC countries (Brazil, Russia, India and China) continue to offer good opportunities for investment. However, the results of PwC’s innovative country risk and reward model also point to a range of other locations as alternatives.

Based on an Index Value of 85, Viet Nam’s 5th ranking for manufacturing investments is down from its pole position last year. The drop mainly reflects changes in PwC’s selection of countries considered for the update.

Based on macroeconomic data, a number of countries studied last year, including the Czech Republic, Hungary and Saudi Arabia, no longer meet the criteria for inclusion in the Risk and Reward Model. On the other hand, three of the four countries ranked higher than Viet Nam, namely Egypt (Index Value 95), Bulgaria (93) and Serbia (88), did not qualify for inclusion in the index calculations.

Beyond the obvious importance of low production costs, the index also factored in a country’s risk premium, distance from key export markets and local taxes.

Among the Asian countries on the Manufacturing Index, India was the highest, at the 4th spot. Thailand (11th/Index value 82), Malaysia (13th/81) and China (14th/81) also made the cut. Cambodia did not quality for inclusion in the top 20 because of the small size of its current manufacturing base, but it was identified as a promising investment destination due to the wide availability of low-cost labour and a falling country risk premium.

Although countries like Viet Nam and Cambodia still have relatively small economies, their low-cost bases can sometimes offer higher profit margins to manufacturers.

Despite being a lucrative investment location, China did not break the top 10. Given the massive amounts of manufacturing-based foreign direct investment (FDI), its 14th place may even seem counterintuitive to some. It is worth noting, however, that as the incomes of Chinese workers rise, they will become more avid consumers for service providers such as retailers and hoteliers in the coming years.

Ian Coleman, UK head of emerging markets for PricewaterhouseCoopers LLP, said: “The main reason why China trails countries such as India and Viet Nam is that the EM20 risk-reward index is a ratio measure which does not take into account the absolute size of a country’s market. If a company was looking to develop a very large-scale manufacturing facility, the labour capacity and physical infrastructure required would arguably rule out some of the countries at the top of the Manufacturing Index and would increase China’s relative attractiveness.”

The rankings apply only to direct investment, not to investment in equity markets or other financial assets. — VNS

Vietnam trade with Cambodia on surges in 2008

VietNamNet Bridge, Vietnam – August 25, 2008

The trade revenue between Vietnam and Cambodia is expected to surpass 1.5 billion USD this year against 1.2 billion USD in 2007.

The Commercial Counselor of the Vietnamese Embassy in Cambodia, Le Bien Cuong, said the two countries recorded almost 900 million USD in trade revenues for the first half of the year.

Vietnam exported over 700 million USD to Cambodia and imported over 140 million USD worth of commodities from the neighbouring country.

Textile and garments, computers, electronic appliances, household electrical products, fruit and vegetables, seafood and plastic commodities are Vietnam’s major hard currency earners.

The two countries set a target of 2.3 billion USD in bilateral trade by 2010 and 6.5 billion USD by 2015.

Cambodian Prince Ranariddh to leave politics, work for the palace

PHNOM PENH, Aug. 25 (Xinhua) — Cambodian Prince Norodom Ranariddh is expected to resign as head of his self-named party and quit politics, fellow royal Prince Sisowath Thomico said, suggesting that the move could be part of a plan for his return from exile, local newspaper reported Monday.

“I heard of his intentions two weeks ago,” Sisowath Thomico was quoted by the Phnom Penh Post as saying.

He added that he did not know if the resignation would be permanent or temporary.

Former king Norodom Sihanouk had often requested that Ranariddh give up politics and focus on improving the nation, Sisowath Thomico said.

Ranariddh, who left Cambodia last year under a cloud of legal problems, is living in Malaysia. 　

Editor: An

Cambodian PM expects peaceful settlement for border dispute with Thailand

PHNOM PENH, Aug. 22 (Xinhua) — A peaceful settlement of the 39-day-long military stalemate against Thailand at the border areas can be expected in the near future, said Prime Minister Hun Sen ina letter addressed to his Thai counterpart Samak Sundaravej here Thursday.

“I have full confidence that the meeting of the Cambodian-Thai Joint Border Commission (JBC) in early Oct. 2008, followed by the next meeting of the two foreign ministers, will bring about a peaceful settlement to the border issues not only in Preah Vihear Temple area, but also the entire border region between Cambodia and Thailand,” he said in the letter issued here Friday to media organizations by the Cambodian Ministry of Foreign Affairs and International Cooperation.

“I sincerely hope that the second meeting between the head of the Cambodian Contemporary Coordinating Task Force and the head of the Thai Regional Border Committee on Aug. 29, 2008, as agreed during the second foreign ministers’ meeting in Hua Hin province of Thailand on Aug. 18-19, will result in removal of all the remaining troops at the areas around the Preah Vihear Temple and cessation of all military build-up in other border areas,” he said.

“I am extremely pleased that you share my views that our two countries can resolve this issue in a peaceful and amicable manner, as we continue to cherish our long lasting friendship and good neighborliness,” he added.

During the meeting on Aug. 18-19, Cambodian and Thai foreign ministers agreed to arrange a second-phase troop redeployment at the disputed border area near the Preah Vihear Temple in the eponymous province of Cambodia.

Both sides will convene a meeting between the Head of the Cambodian Temporary Coordinating Task Force and the Head of the Thai Regional Border Committee on Aug. 29 in Cambodia to discuss the second-phase of redeployment.

The two foreign ministers also agreed to recommend to their governments that the next meeting of legal experts and the Thai-Cambodian JBC be convened in early Oct. 2008 to discuss the issues related to the survey and demarcation of the relevant sectors under the term of reference and master plan of the JBC.

On July 15, Thai troops went into the border area to fetch three trespassers who had intended to claim Thai sovereignty over the Preah Vihear Temple. However, the troops stationed there ever since, thus triggering the military standoff and propelling both sides’ military personnel to grow over a thousand in the border areas.

During the time, Thai troops respectively entered the Keo SikhaKiri Svara Pagoda, which is constructed on the only way leading to the Preah Vihear Temple, as well as the Tamone Toch and Tamone Thom temples in neighboring Otdar Meanchey province of Cambodia.

On Aug. 16, most of the troops at the Keo Sikha Kiri Svara Pagoda and within the surrounding area of the Preah Vihear Temple were evacuated according to both sides’ agreement.

The Preah Vihear Temple straddles the Cambodian-Thai border atop the Dangrek Mountain and was listed as a World Heritage Site on July 7 by UNESCO’s World Heritage Committee.

In 1962, the International Court of Justice decided that the 11-century temple and the land around belong to Cambodia, which rankled the Thais and has led to continuous disputes.

Editor: Bi Mingxin

Latest border talks make ‘steamroller’ progress

The Phnom Penh Post – Thursday, 21 August 2008 Written by Cheang Sokha and Brendan Brady

Cambodian, Thai foreign ministers agree to meet again over Preah Vihear standoff as negotiations over territorial dispute once again grind to a halt

Foreign Minister Hor Namhong speaks with reporters after returning Wednesday from Preah Vihear crisis talks. (HENG CHIVOAN)

CAMBODIA and Thailand have agreed to another round of talks over disputed territory near Preah Vihear temple, Foreign Minister Hor Namhong said Wednesday, after negotiations this week made only limited progress towards resolving the military standoff on the border.

“The negotiations on Preah Vihear are like a steamroller, they are slow but moving ahead,” Hor Namhong told reporters after returning from two days of talks with his Thai counterpart, Tej Bunnag, in Thailand.

He said another round of talks will be held later in the year after both sides meet in October to discuss border demarcation around the 11th-century temple, which was listed in July at a UNESCO World Heritage Site, sparking outrage from Thai nationalists claiming the ruins belong to Thailand.

Hundreds of Cambodian and Thai soldiers withdrew from their positions around the temple last week ahead of the talks, greatly easing tensions that had climbed steadily since July 15, when Thai troops first crossed the border.

The incursion sparked one of the largest military build-ups in recent years, as both sides sent thousands of troops and equipment, including heavy artillery, to the frontier, raising fears that fighting would erupt.

Hor Namhong said that both sides agreed that armed conflict was not the way to solve the border row.

“In this era, resolving the problem through the use of military force is out of date,” Hor Namhong said, adding that Cambodia would consider re-opening the international border crossing at Preah Vihear, which has been sealed since the crisis began last month, “after tensions ease and the situation becomes normal”.

He reaffirmed, however, Cambodia’s ownership over two more disputed border temples, Ta Moan Thom and Ta Moan Touch, that were also occupied by Thai soldiers during the last month.

“I think the issue of Ta Moan temple will also be solved step-by-step like the Preah Vihear temple case,” he added.

Hor Namhong said Cambodian and Thai military officials would meet August 29 in Siem Reap for further discussions on reducing troop numbers at border flashpoints. Since the weekend redeployment, only a handful of soldiers remain at Preah Vihear.

Cambodia’s temple wall

Bangkok Post, August 24, 2008  

Phnom Penh – Cambodia plans to build a Berlin-style wall to shut off Thailand and develop tourist facilities around the still disputed Preah Vihear temple, a senior official said on Sunday.

The Cambodian government will build a series of walls at “complicated border areas,” while still calling for talks to mark and properly demarcate the frontier, Khieu Kanharith, Information Minister and government spokesman, told reporters at a press conference. 

Both sides should start to discuss to plant border markers from undisputed border areas to the complicated border areas and some complicated border areas will be built with border markers or concrete walls, Khieu Kanharith said. 

Cambodia will allow private companies to invest at least $2 million dollars at the Preah Vihear Temple to set up cable cars for tourists, he said, adding that the government is also trying to build a road to the temple. 

The Preah Vihear border gate to Thailand will be open when the situation there is stable, he said, adding that foreign tourists could visit the temple from the Cambodian side. 

At the moment, authorities have closed the temple grounds to visitors. For decades, the only way to get to Preah Vihear was through Thailand, because the temple is situated atop a sharp cliff on the Cambodian side. 

Cambodia and Thailand share a border of over 800km with only 73 demarcation markers, the Cambodian official said on Sunday. 

At a meeting on Aug 18-19, Cambodian and Thai foreign ministers agreed to arrange a second-phase troop redeployment at the disputed border area near the temple. 

They agreed to a meeting of the Cambodian Temporary Coordinating Task Force and the Thai Regional Border Committee on Aug 29 in Cambodia to discuss the troop redeployment. 

The two foreign ministers also agreed to recommend to their governments that the next meeting of legal experts and the Thai-Cambodian Joint Border Committee be convened in early October, to discuss the issues related to border survey and demarcation of the relevant frontier sectors. 

On July 15, Thai troops went into the border area to fetch three trespassers who had intended to claim Thai sovereignty over the Preah Vihear Temple. The incident triggered a military standoff, as troop strength on each side grew to more than 1,000 soldiers. 

In 1962, the International Court of Justice (World Court) decided that the 11-century temple belongs to Cambodia. (Agency reports)