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Wednesday, January 12 7:17 PM SGT
Thais to ask Japan to push global economic reformBANGKOK, Jan 12 (AFP) -Thailand will urge Japanese Prime Minister Keizo Obuchi to push for global economic reform when he arrives here Thursday on the final leg of a historic swing through Southeast Asia. Obuchi will fly to Bangkok after an overnight stay in Laos following the first visit to Cambodia by a Japanese leader for 43 years, a trip which close aides described as a major success. His stay in Thailand may seem routine compared to the excitement of his Cambodian sojourn, which was dominated by plans for a trial for Khmer Rouge leaders and a tour of the ancient temples of Angkor Wat. But economic issues expected to be tackled in talks with Thai Prime Minister Chuan Leekpai and his ministers could shape Asia's capacity to fend off economic crises similar the one which erupted in mid-1997. Obuchi told travelling reporters after leaving Japan that the world must consider economic anti-crisis measures. "The world economy will greatly benefit from the prevention of another economic crisis in Asia and, at the same time, from development of the Asian economy," he said. Thailand, which will welcome the first official visit by a Japanese leader in seven years, says relations between the two sides have rarely been better. "There is close cooperation at every level ... especially after Japan helped Thailand during its financial crisis," said a Thai Foreign Ministry statement issued Wednesday. Foreign observers here said Obuchi may float the idea of a regional currency regime based on a peg of global units to stabilise exchange rates. Obuchi, mindful of Thailand's influential position in the Association of Southeast Asian nations (ASEAN), will canvass opinion ahead of this year's summit of industrialised nations in Japan. Chuan said Wednesday he would ask Obuchi to tell Group of Seven leaders that they must reform the global financial system to forestall future crises. "I will ask Obuchi to tell G7 leaders that they should pay more attention to this regional crisis and should try to support problem-solving in the long-term," he said. "Many policies only benefit developed countries. I will ask Obuchi to convey this to the other six leaders." Although Myanmar is not on Obuchi's itinerary, the chances of political reform in the military-ruled state may also be discussed. Japan recently sent former prime minister Ryutaro Hashimoto on a private mission to Yangon to asses the political and economic situation. Obuchi told junta leader, Senior General Than Shwe, during ASEAN's Manila summit that if Myanmar proved its willingness to embark on radical economic reform it could count on Japan for help. Thailand and Myanmar have recently seen relations deteriorate sharply after Myanmarese dissidents seized Yangon's embassy in Bangkok last year, and were allowed to escape in return for the release of hostages. Chuan said he would also thank Obuchi for Japan's help during the darkest hours of the financial meltdown, including funds dispersed through the Miyazawa plan for crisis-hit countries. Thai and Japanese officials will thrash out details of the new 500-million-dollar aid package announced by Japan at the ASEAN summit in Manila late last year. Obuchi will be formally welcomed at Government House before bilateral talks and a dinner hosted by Chuan. He was due to hold a press briefing on Friday before meeting members of the Japanese community in Bangkok. Later Friday he was due to be granted an audience by King Bhumibol Adulyadej. Obuchi was scheduled to leave Thailand on Saturday morning. |