Meeting of region's leaders in Thailand may be rescheduled, says Foreign Minister George Yeo
By
Zureena Habib
Getting 16 leaders to meet at the same time at the Asean Summit is very difficult, according to Foreign Minister George Yeo, even as a critical issue - the global economic downturn - demands urgent attention.
Regional leaders meeting in Jakarta earlier last week agreed to hold the Asean Summit in Thailand from Feb 24 to 26 next year, but it looks as if the event will be rescheduled.
'I thought we had settled it in Jakarta a few days ago, but now I'm told that there are some leaders who can't make it,' he said yesterday at a grassroots event in his Aljunied constituency.
He added that they were looking for other avenues for the summit to convene in late January or early February.
He expressed concern that the recent unrest in Thailand might have held back Asean's agenda but said he had confidence in the commitment the new Thai prime minister had given Asean.
'There is a certain urgency. We are in the middle of a crisis, and there are some things that we can do to help each other.'
Like many other countries in the world, those in Asean have not escaped the global economic downturn.
Mr Yeo cited the currency swap programme under the Chiang Mai Initiative as an example of how Asean countries could help one another.
Asean leaders are looking to increase the total amount substantially, from the current US$80 billion (S$115 billion), he said.
The initiative is a network of bilateral currency swap agreements among Asean countries and includes China, Japan and South Korea. It was launched in May 2000 after Asian finance ministers met in the Thai city of Chiang Mai.
It allows foreign reserves to be pooled to fend off speculative attacks on Asean currencies.
On relations between Singapore and Thailand, Mr Yeo said they were very good.
Recently, many Singaporeans were stranded in Bangkok after its airports were occupied by protesters against a backdrop of political turmoil in Thailand.
On issues closer to home, he said that in the downturn, grassroots leaders would be watching out for families in trouble.
'It is a helping-hands approach. Let's be practical, see what the needs are and where we can help in different ways. This way, we will be able to get through the financial crisis without too much damage.'
