“I think there is no question the key game in town in our part of the world is Asian,” he said in a media interview on June 26 as he wrapped up a two-day visit to Thailand.
There is no substitute for ASEAN as an organising unit, a production, investment or competitive zone, he said, noting the region has 680 million people, with a combined gross domestic product of around US$3.5 trillion (S$4.75 trillion) that can potentially double and quadruple in the next two to three decades.
Earlier in June, Thailand and Malaysia revealed that they plan to join BRICS, a group of emerging economies led by Brazil, Russia, India, China and South Africa that is seen to be challenging the Western-led global order. Myanmar and Laos had previously declared interest in joining the bloc.
Balakrishnan highlighted that ASEAN has signed trade pacts with countries such as China, South Korea and Japan.
Asian countries, too, have tie-ups such as the Digital Economy Partnership Agreement founded by Singapore, Chile and New Zealand, which South Korea has joined and Thailand has expressed interest in joining.
Source link : https://www.nationthailand.com/news/world/40039165
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Publish date : 2024-06-26 12:48:00
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