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Doubts cast over Asian economic alliance

Singapore’s prime minister Lee Hsien Loong has added his cautionary views to the pessimistic judgment expressed by former Malaysian leader Mahathir Mohammed about the prospects for a European-style economic community among the 10 countries of Southeast Asia, and reported here last week.

Singapore’s prime minister Lee Hsien Loong has added his cautionary views to the pessimistic judgment expressed by former Malaysian leader Mahathir Mohammed about the prospects for a European-style economic community among the 10 countries of Southeast Asia, and reported here last week.

Lee told reporters at a meeting of the Association of Southeast Asian Nations that although about 80% of the work on economic integration has been completed, much remains to be done.

Agreements have yet to be reached on rules for investment, services, market access and recognition of professional qualifications.

“The rest of it depends on how urgently the countries see this as a priority,” Lee said.