Meanwhile, Prime Minister Datuk Seri Najib Razak, who is also the 2015 Asean chair, expects the implementation of the Asean Economic Community (AEC) to spur average annual gross domestic product (GDP) growth of 5.6% until 2019.
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“ASEAN is working towards a community that is politically cohesive, economically integrated and socially responsible”, the declaration said.
“Finally, development cooperation is at the heart of the East Asia Summit”.
Founded in 1967, ASEAN consists of Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam.
Meanwhile, the 10 leaders of the countries of the Association of Southeast Asian Nations signed a declaration at the summit of the Economic Community of the ASEAN.
Established after the grouping’s 48 years of existence, the Asean Community is based on three pillars, namely the Asean Political and Security Community, Asean Economic Community and Asean Socio-Cultural Community.
Premier Li called on China and the ASEAN to conclude the negotiations on the Regional Comprehensive Economic Partnership (RCEP) by 2016.
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“All 10 ASEAN members, plus 8 major dialogue partners (US, Russia, China, India, Korea, Japan, Australia and New Zealand) adopted this statement, reflecting consensus and unanimous agreement on guiding principles for addressing current issues on the South China Sea”, the statement read.
China has been transforming reefs in the Spratly archipelago into artificial islands and has built airfields and other facilities on them.
He also said the two countries should enhance connectivity in the region by actively discussing construction of projects such as the high-speed railway linking Malaysia and Singapore, railways in southern Malaysia and the China-Malaysia port alliance.
Najib said that besides achieving steady economic progress in the ASEAN Community, he felt that the peoples of ASEAN must also have a sense of community in their hearts and minds.
That has prompted concerns in Washington and across the region that China is trying to militarise its claims in the South China Sea. This has caused ripples of alarm in much of East Asia about China’s intentions and freedom of navigation in a waterway through which $5 trillion in ship-borne trade passes annually.
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Chinese Premier Li Keqiang (2nd L, front) interacts with old friends and representatives of local people at San Shu Gong specialty shop in Malacca, Malaysia, November 22, 2015.
