President Lee Myung-bak in attendance at the 14th ASEAN Pluss Three Summit in Bali, Indonesia

President Lee Myung-bak attended the 14th ASEAN Plus Three (APT) Summit at the Nusa Dua Convention Center in Bali, Indonesia on November 18. Korea, China, Japan, and the ten ASEAN nations discussed present and future initiatives for enhancing regional cooperation with regards to pressing issues such as food security, economic integration, and the global financial crisis.

Expressing concern for the threat to food supply caused by the recent floods in Southeast Asia, the APT countries agreed to work together to ensure the implementation of the food security measures outlined by the ASEAN Plus Three Emergency Rice Reserves (APTERR) agreement of October 2011. President Lee stressed the importance of maintaining a sufficient disaster response system in order to minimize agricultural losses, and pledged Korea’s contribution to this task through technology-sharing.

Regarding the debt crisis in Europe, the APT countries acknowledged the need to strengthen economic cooperation in the region and collectively called for a more active role by the ASEAN+3 Macroeconomic Research Office (AMRO), the regional macroeconomic surveillance unit established in May of this year. President Lee also highlighted the importance of further developing the Chiang Mai Initiative Multilateralization (CMIM) Agreement, launched in March 2010, as a means not only for responding to existing crises but also for anticipating and preparing for future crises.

In addition, the APT countries praised the success of the October meeting of the East Asia Vision Group (EAVG II) that was held in Seoul, and commended Korea for its role in realizing the group’s establishment. The APT countries also expressed their commitment to supporting the research of their respective representatives and experts in EAVG II. President Lee, for one, highlighted the changing dynamics within East Asia and in the greater international arena, and the growing importance of East Asian participation. Furthermore, Lee called for continued creative attention and energy to be directed toward the formation of an East Asian community partnership, which is the ultimate purpose of the APT forum.

The APT countries stated that the 2012 APT summit will be held as a special anniversary summit, in commemoration of 15 years since the establishment of APT, throughout which time regional cooperation has steadily advanced.

Kwon Jungyun
Korea.net Staff Writer