NAY PYI TAW, Myanmar – President Benigno S. Aquino III, along with Singapore Prime Minister Lee Hsien Loong, arrives for the traditional group photo opportunity during the 24th ASEAN Summit Plenary at the Jade Hall of the Myanmar International Convention Center here last May 11. “Moving Forward in Unity to a Peaceful and Prosperous Community” is the theme for this year’s ASEAN Summit, highlighting the importance of a united ASEAN. (MNS photo)
MANILA (Mabuhay) – The implementation of martial law in Thailand after months of political disturbance will not hinder Southeast Asian countries from forming an integrated economy by 2015, a finance minister said Tuesday.
“This is a necessary development probably there because they’ve had an impasse for quite a period already,” Finance Secretary Cesar Purisima told reporters on the sidelines of the 10th ASEAN Finance Ministers’ Investor Seminar in Makati City.
“That shows you a march towards maturation of the members of the region,” he said, noting the process will only be a short time.
On Tuesday, Thailand’s army announced the imposition of martial law “to restore order after six months of street protests that have left the country without a proper functioning government. The army, however, pointed out it is not a military coup, Reuters reported.
What’s important in the ASEAN Economic Community is businesses continue working, Purisima said.
“Politics can happen but at the same time business has its own rhyme,” he said.
By 2015, the ASEAN Economic Community (AEC) will set in motion the creation of a single market for the 10-nation bloc.
This bloc has as members Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (MNS)