Asia and Europe: The Development and Different Dimensions of by Lay Hwee Yeo

By Lay Hwee Yeo

This publication presents a scientific and thorough exam of the Asia-Europe assembly (ASEM) procedure which brings jointly the fifteen european member states, the ecu fee and ten East and Southeast Asian nations. the writer not just lines the particular improvement of the ASEM technique, but in addition contextualises ASEM inside 3 varied diplomacy theoretical frameworks, as considered by way of realists, social constructivists and institutionalists.

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Extra info for Asia and Europe: The Development and Different Dimensions of ASEM

Sample text

Preparations for the first Asia-Europe Summit Meeting in Bangkok Following Prime Minister Goh’s initiative in proposing an Asia-Europe summit meeting, the follow-up work and details were carried through by ASEAN. On 19 March 1995, the ASEAN Senior Officials’ Meeting (SOM) adopted a position paper drafted by the Singapore Ministry of Foreign Affairs on the need for an Asia-Europe meeting. The paper proposed that the EU should select the European participants for the meeting, and ASEAN, the Asian participants.

A group known as the Pilot Phase Guidance Group (PPGG) was set up immediately after the London ASEM to guide the development of the AEETC in Bangkok. However, despite all these meetings, there were signs that things were not going all that well at the official level. The director of the Department of European Affairs at the Thai Foreign Ministry, in his speech to the AsiaEurope on the eve of the 21st Century Conference held in Bangkok in August 1999, revealed that there was a rising trend of disinterest and declining enthusiasm with regard to ASEM at the political level, brought about in part by the Asian economic and financial crisis and the European preoccupation with deepening its financial and economic integration.

The currency turbulence in Southeast Asia took centre stage. The uncertainty in foreign exchange rates in the Southeast Asian markets was a key topic. There was general agreement that the Asian countries had to strengthen cooperation relating to financial supervision among themselves to enhance the region’s economic stability. Financial regulators from the two regions would be expected to meet more frequently and share information on the supervision and the operation of financial markets, and the management of payment systems.

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