Proposal For Asian Market Discussed

Press, Volume C, Issue 29657, 30 October 1961, Page 13

Proposal For Asian Market Discussed

(NJZJ’.A.-Reuter— Copyright) KUALA LUMPUR, October 29. The joint committee of economic experts of the Association of South-East Asia has examined the feasibility of a common market arrangement between the member countries of Malaya, Thailand and the Philippines, it was announced yesterday, in an official communique issued at the end of the committee’s meeting, which began on October 23 and ended yesterday.

The communique said the committee discussed closer trading and economic relations including an AJS.A. common market arrangement and “as an immediate measure, recommended that a multilateral agreement on trade

and navigation should be concluded.” The joint committee of the organisation which was set up in July this year to promote cultural, economic and social co-operation between members, “considered in detail projects for technical co-operation, promotion of trade, transport and communications, industry and fisheries and in appropriate cases recommended action.” Joint Measures The communique said that on the subject of trade, the committee recommended joint measures to improve production and quality of primary export commodities. It also recommended joint measures to achieve stability in the prices of such commodities of interest to AS .A. countries. The committee studied the possibilities of joint participation in trade fairs and exhibitions and also considered the liberalisation of trade among AJS.A. countries. The communique said the committee also examined the feasibility of regional arrangements in transport and communications, including the formation of a shipping line and an airline. The improvement of surface transport and telecommunication links was also discussed, and the committee examined the possibilities of joint ventures in fishing and industry. The report of the committee is to be submitted to the standing committee for consideration and later transmission to the meeting of Foreign Ministers expected to be held shortly in Kuala Lumpur.