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Bali Concord II - Towards an ASEAN Union?

Historic Multi-Lateral Declaration Set to Be Signed by 10 Nations in Bali.

(10/8/2003) The Heads of State of the 10-member Association of Southeast Asian Nations (ASEAN) attending the ASEAN Summit in Bali October 7-8, 2003, are expected to sign an historic undertaking laying the groundwork for greater intra-regional cooperation. Bali Concord II will present the broad outlines for economic integration among the member countries of the organization.

While the details of the declaration will only be available after the Summit, experts suggest that 11 key industries have been targeted for liberalization and enhanced economic integration among all ASEAN members. If successful, the plan aims to increase member country's ability to compete in the global economy by removing both tariff and non-tariff barriers to the flows of goods, services and investments among ASEAN member nations.