DE-ESCALATING EFFORTS
The first joint meeting of the region’s finance, central bank governors, and foreign ministers took place in November 1999, in Manila, Philippines on the eve of the 3rd ASEAN Informal Summit, due to the challenges raised by the Asian financial crisis.
In 2003, the foreign ministers said at their meeting in June that they looked forward to another joint ministerial meeting before the Bali leaders’ summit in October 2003, but there is no record of the 2003 meeting taking place.
Analysts had previously told CNA that the revived meeting this year was a move towards “strategic pragmatism,” reflecting ASEAN’s heightened awareness that economic decisions can no longer be divorced from political realities and that they can no longer work in silos.
With a population of around 700 million people, ASEAN is the fifth-largest economy in the world with a combined gross domestic product of US$3.9 trillion.
ASEAN is currently made up of 10 member states, with Timor-Leste to officially become its 11th member state at the summit.
The country took a major step in doing so after officially handing over its membership documents in a ceremony on Saturday morning.
Malaysia’s Mohamad Hasan said the event, known as the Ceremony of Depositing of the Instrument of Accession, effectively marks Timor-Leste’s full admission into the bloc.
“Today, we celebrate you, a nation built on courage, perseverance, and unyielding hope, as you join a family that has long awaited your full inclusion,” he said in his closing remarks after the document handover ceremony.
“Welcome to the ASEAN Family, and to our venerated Charter,” he added.
https://www.channelnewsasia.com/asia/asean-foreign-economic-ministers-meeting-malaysia-5424646
