1.     The Third Meeting of the High Level Task Force was held in Siem Reap, Cambodia on 2-3 August 2000. The High Level Task Force was chaired by Mr. Cesar Virata, former Prime Minister of the Philippines.

2.     The Task Force had been established by the ASEAN Economic Ministers and the Ministers from the CER during their meeting in Singapore in October 1999. They were to look into the feasibility of a free trade area (FTA) between ASEAN and CER, the benefits that might be derived from the FTA, the possible architecture and the capacity building measures required for countries to participate effectively in the negotiation process.

3.     The Task Force met for the first time at the ASEAN Secretariat in Jakarta on 8-9 February 2000. Its second meeting was held on 27-28 April 2000 in Queenstown, New Zealand.

4.     At their meeting in Siem Reap, the High Level Task Force finalised its report on the feasibility of an AFTA-CER free trade area. They are scheduled to submit their recommendations to the ASEAN Economic Ministers and the Ministers from CER during the consultations between the two sides in October 2000 in Chiang Mai, Thailand.

5.     The Task Force deliberated on the challenges faced by the two regions, including the rise of new competitors and the slackening pace of global trade liberalisation. The Task Force recognized the strategic role that an AFTA-CER FTA can play in responding to these challenges by strengthening the bargaining position of ASEAN and CER, enlarging the regional market, increasing productivity and enhancing the development prospects of its members. The Task Force considered the study prepared by the Centre for International Economics in Australia which estimated that the proposed FTA would, over the period until 2020, generate a net discounted increase in regional GDP of about US $ 48 billion. The Task Force addressed at some length the need for technical assistance to the new members of ASEAN and the elimination of non-tariff barriers so that the benefits from the proposed FTA could be fully realised.

6.     Its work has been supported by the ASEAN Secretariat based in Jakarta and Dr Gwendolyn Tecson from the University of the Philippines. The list of members of the High Level Task Force is attached.

2. MR AHMAD ISA
    Brunei Darussalam

3. MR. KONG VIBOL
    Cambodia

4. MR. TUNKY ARIWIBOWO
    Indonesia

5. MR. SOMCHITH INTHAMITH
    Lao PDR

6. DR. MOHD. HAFLAH PIEI
    Malaysia

7. MR. MAUNG MAUNG YI
    Myanmar

8. DR. CIELITO HABITO
    Philippines

9. DR. LEE TSAO YUAN
    Singapore

10. DR. WISARN PUPPHAVESA
    Thailand

11. MR. HOANG TICH PHUC
    Vietnam

12. THE HON. TIM FISCHER MP
    Australia

13. SIR WILLIAM BIRCH
    New Zealand