Minutes ofThe 3 Annual Conference of the Network of East Asian Think-Tanks (NEAT)
rd“Towards an East Asian Community”
23 August, 2005, ANA Hotel, Tokyo, Japan

Ⅴ．Closing Session “Roadmap towards an East Asian Community”
Chair

Prof. Ito Kenichi, President＆CEO, the Japan Forum on International Relations, Host Country
Coordinator of the 3rd NEAT Annual Conference.
Asked the Chairs to report the main points discussed in the respective Sessions they presidedover.

Report by Prof. LEE Choonf Lyol, for Chairman, Session 2• The two WG reporters outlined the outstanding issues in East Asian financial cooperationand global imbalances question.
• During the discussion, the following points were raised among others:
1) Need to reduce the development gaps between countries in order to build a singlecommunity.
2) Many proposed to establish an Asian Monetary Fund as a lender of last resort and an
agent of monetary surveillance.
3) Possibility of creating a Currency Union in this region was raised. Needs further study.
Developing the existing bilateral Chiang Mai Initiatives into a multilateral framework
was suggested.
4) Boosting domestic demand in each country was recommended to revitalize the regional
economy.
5) Efficient utilization of foreign exchange reserves accumulated in the region wasemphasized.
Report by Mr. Nguyen Tien Minh, Chairman, Session 3• The two WG reports made the important policy recommendations.
• On energy security, institutionalizing a regional energy cooperation framework, including
coordination on stockpiling and trans-national energy mechanisms, statisticalinformation systems, energy security; developing the market for conventional energy,including the establishment of an East Asian energy consortium; efficient use of energy,
cleaner use of coal, renewable energy.
• On investment, Strong need to promote investment cooperation in East Asian region.
• Improving the intraregional investment environment, including legal, transparency,
intellectual property rights, investment networks; identifying regional approaches, like
East Asian highways, railways, waterways. Developing Asian bond market.
Establishment of an investment institution for East Asia: East Asian investment bank,
East Asian investment fund.
• Some reservations about East Asian investment Area because of ASEAN experiences withIAI.
Report by Dr. Makmur Keliat, Chairman, Session 4• Need to relate the idea of ASEAN community to the idea of East Asia community as,
without ASEAN, there would be no East Asia Community. Therefore the plus 3 could
play important role in integrating the idea of ASEAN community into the East Asiancommunity.
• The two WG reports seen by one participant as complementary to each other but alsocomment by another participant that the two reports have some overlapping .
• It was noted that civil society has been included in the process of East Asian community1

building as appeared in the report sponsored by Malaysia.
• Many comments on the role of East Asia Summit in the process of East Asia Communitybuilding. Some pointed out that there is a need to draw clear distinction between
ASEAN+3 and East Asia Summit. There has been suggestion that ASEAN+3 isconceived as a forum for community building while EAS as a forum for strategic dialog.
• A number of participants have also suggested that the name of EAS needs to be changed
for two reasons (1) to avoid the confusion between the EAS and the East Asia
community (2) the participating countries in the EAS may be broadened in the future tothe effect that geographically the term East Asia has lost its meaning.
• A participant has raised the idea that peace and prosperity of East Asia have nothing to dowith geography. However, when we talk about East Asia community then geographicalboundaries need to be more defined. But there has been also a view that the boundaryof East Asia can be created and constructed. There has been also a view that community
building should be based on identity by taking diversity of the region intoconsideration• On the term “open regionalism,” some participants have pointed out that there is a need tomake clear criteria of the meaning of the term. We need to take lessons from theexperience of APEC with its large membership. On the other hand, a participant has
said that there has been too much attention to functional cooperation. There has beensuggestion that ASEAN+3 needs to put emphasis on deepening functional cooperation
than widening it.
• ASEAN+3 should be more open to media and needs to guide and educate the media aswell.
• The vision of East Asia needs to be more presented in global initiatives.
• The issue of membership of Russia in the context EAS was also discussed.
• The new term ASEAN+6 have been introduced. to replace the term East Asia Summit
Free Discussions followed:A• I thought we had a good discussion yesterday and ended on a general agreement.
• We think there should be an East Asian geographical configuration to the East Asian
community building. This community building should proceed to the ASEAN+3
process which may become the vehicle for progress in the future, but it is basically anEast Asian configuration.
• The community must be completely open to dialogue with other major actors in the global
community, and with other regional and global institutions.
• The primary vehicle for dialogue and discussion between East Asian nations and others
will be what is now called the East Asian Summit, which some felt should be renamedin order to reflect the fact that the participants are not only East Asian countries.
ASEAN Secretariat• I wish to clarify that I am not suggesting that we use the name ASEAN+6 as a new namefor EAS. I would like to use: ASEAN Community Strategy Dialogue.
Chair Thanks for clarification, but this was not included in the draft policy recommendations.
Wrap-up by Prof. Ito Kenichi, Chairman, Closing Session• Draft Policy Recommendations "Towards an East Asian Community" were distributed andreviewed.
• Final draft was completed by the drafting committee last night. All 13 member country
coordinators were represented. Took account of working group reports and exchanges
that followed.
• Sequence of presentation attempts to impose a logical framework on the draftrecommendations.
• Not asking for further detailed discussion of wording; the wording has already been
examined in detail by the drafting committee. Would like the document to either beadopted or rejected.

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A number of requests for clarification and suggestions were put forth to amend some parts of thetext of Draft Policy Recommendations.
However, the Chair, taking note of some reservations but pointing out the importance for the 3rd
Annal Conference to adopt the Policy Recommendations, appealed to the participants that the present
text of Draft Policy Recommendations is the result of hard work of the members of the drafting
committee until late previous night and, as opening the floor for amendment means chaotic situation,
the text of Draft Policy Recommendations should be either adopted or rejected.
Chair

JawharChair• This must be done on a consensus basis. If there's any Country Coordinator who is opposedto the adoption of the draft policy recommendations, it will be rejected. Are there anyobjections?
• I see no objections. Hence, the draft policy recommendations have been adopted. The word
"draft" will be deleted.
• Will the Country Coordinator for Malaysia confirm hosting the next Annual Conference in2006?
• I thought that we had already agreed that Malaysia would host the next conference. We arehonored to be able to do this.
• We look forward to welcoming you in Kuala Lumpur, probably in August. However this issubject to further discussion.
• Would like to recognize and pay tribute to all the previous hosts and chairs of the annual
meetings: China, Thailand, Japan. They have done excellent work.
• Hopefully each meeting will build and make this more effective and more successful.
• I wish to express over again our sincere thanks and appreciation to all of you for coming toTokyo to attend this conference. And also thanks to the ASEAN Secretariat for its
participation and services .
• Meeting adjourned.

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