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ASEAN summits offer essential platform for gathering Southeast Asia leaders: former Singaporean diplomat

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ASEAN summits offer essential platform for gathering Southeast Asia leaders: former Singaporean diplomat

2024-10-10 17:17 Last Updated At:19:47

A Singaporean expert on global affairs has highlighted the significance of the Association of Southeast Asian Nations (ASEAN) for its ability to convene leaders for regular summits and serving as a platform to promote dialogue and cooperation among Southeast Asian nations.

Kishore Mahbubani, a former Singaporean representative to the United Nations and a distinguished fellow at the National University of Singapore's Asia Research Institute, was speaking ahead of the 44th and 45th ASEAN Summits, which commenced on Wednesday in Vientiane, Laos.

"ASEAN summits are held regularly among the leaders of ASEAN and that alone is so positive, because if you look at the South Asian region, the South Asian Association for Regional Cooperation cannot have regular summits, the leaders cannot talk to each other. And you go to Latin America too, there's so much squabbling among the regional leaders in South America. So this is where ASEAN is a miracle. The leaders can meet regularly and talk with each other," said Mahbubani.

He also emphasized the summits' critical role in shaping ASEAN's future trajectory, noting upcoming regional issues such as Indonesia's new incoming president Prabowo Subianto taking over later this month, and next month's U.S. presidential election which will garner significant global attention.

"The October meeting is important, a new president is taking over in Indonesia, and clearly, we will see stronger new directions for ASEAN coming forward. What ASEAN is preparing for is trying to figure out what happens when a new American president is elected on November 6 [following the vote on Nov 5], and I'm sure they'll be having a lot of private conversations about how to manage that transition," he said.

The ASEAN summits, which are under Laos' ASEAN chairmanship this year, are themed "ASEAN: Enhancing Connectivity and Resilience," with a focus on building a more integrated, connected and resilient ASEAN community to respond to various pressing challenges and seize opportunities to bring benefits to people across the region.

The three-day event will feature related summits, including the 27th ASEAN-China Summit, the 27th ASEAN Plus Three Summit (ASEAN-China, Japan and the Republic of Korea) and the 19th East Asia Summit.

Founded in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

ASEAN summits offer essential platform for gathering Southeast Asia leaders: former Singaporean diplomat

ASEAN summits offer essential platform for gathering Southeast Asia leaders: former Singaporean diplomat

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday

Chinese yuan strengthens to 7.0108 against USD Monday

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