Asean gets bullish on regional integration

The Asean region could be the world’s sixth-largest economy but its financial systems are far from homogenous. Free movement of goods, services, investments and labour planned for 2015 should boost unity but the lack of an integrated capital market is a big stumbling block. Chris Wright reports.

CESAR PURISIMA IS in full flow. The Philippines’ finance secretary is sitting in a cavernous Hanoi conference centre at the Asian Development Bank annual meeting and is talking up his country’s prospects in the light of a unified southeast Asia. “We are really bullish looking to the future of an integrated Asean,” he says, as images of idyllic Boracay beaches and the rolling chocolate hills of Bohol drift past on a TV monitor behind him, a pitch to attract more intra-Asian tourism to the Philippines.

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