MALAYSIA: FOREIGN MINISTERS FROM MAJOR ASEAN AND WESTERN NATIONS HOLD CLOSED-DOOR MEETINGS IN KUALA LUMPUR ABOUT ASIAN ECONOMIES

Record ID: 343151

  • Title: MALAYSIA: FOREIGN MINISTERS FROM MAJOR ASEAN AND WESTERN NATIONS HOLD CLOSED-DOOR MEETINGS IN KUALA LUMPUR ABOUT ASIAN ECONOMIES
  • Date: 28th July 1997
  • Summary: KUALA LUMPUR, MALAYSIA (JULY 28, 1997) (RTV - ACCESS ALL) 1. GV/PAN: EXTERIOR OF OFFICE OF MALAYSIAN PRIME MINISTER MAHATHIR MOHAMED 0.06 2. GV/MCU: MADELEINE ALBRIGHT, U.S. SECRETARY OF STATE, ENTERS ROOM WITH MALAYSIAN FOREIGN MINISTER ABDULLAH BADAWI (2 SHOTS) 0.18 3. MV: MALAYSIAN PRIME MINISTER MAHATHIR MOHAMED
  • Embargoed: 12th August 1997 13:00
  • Keywords:
  • Location: KUALA LUMPUR, MALAYSIA
  • Country: Malaysia
  • Reuters ID: LVACG5VML3ZL4LOQ5N0S4TNYKG5I
  • Story Text: INTRO: The United States has asked ASEAN countries to go significantly further in liberalising financial services, saying this will bolster economic policies that ensure long-term growth.

    -------------------------------------------------------------------- In a statement to the Association of South East Asian Nations on Monday (July 28), Secretary of State Madeleine Albright also pressed the region's developing countries to cooperate in U.N.

    negotiations to cut pollution from burning fossil fuels.

    She noted U.S. concern about recent currency fluctuations that have affected regional economies such as Malaysia, Thailand and the Philippines and said market-oriented responses by some countries helped dampen the volatility.

    Malaysian Prime Minister Mahathir Mohamed has accused international financier George Soros of using his financial clout to destabilise Southeast Asian currencies in an effort to block Burma's admission to ASEAN.

    Malaysia and its neighbours have seen attacks on their currencies in the past month forcing devaluations in Thailand and the Philippines and expensive intervention in Malaysia.

    Albright also made a strong pitch for ASEAN to cooperate in U.N.-sponsored negotiations to impose limits on emissions to slow the process of global climate change.

    The world's wealthiest countries have contributed the lion's share of greenhouse gases, but rapidly industrialising countries in Asia, with their increasing need for electrical power, would be major contributors to this trend, she said.

    The United States has urged developing countries with rapidly growing emissions to agree to binding limits by 2005.

    2005.


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