Southeast Asian countries plan EU-style union by 2015

LEIGH PHILLIPS

02.03.2009 @ 09:27 CET

The leaders of ten Southeast Asian countries have signed a declaration to integrate their economies and construct an economic and political union modelled on that of the European Union by 2015.

Meeting in Thailand over the weekend for the annual Association of Southeast Asian Nations, the heads of ten Asian countries agreed to the Cha-Am Hua Hin Declaration on the Roadmap for An ASEAN Community (2009-2015). The plan looks to build a single market – although without a euro-style common currency – within six years.

“This ASEAN goal is made even more urgent by the global financial crisis,” read the 12-page declaration.

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