has a tripartite' structure with participants drawn from business and industry, government, and academic and other intellectual circles. Current membership comprises the six
ASEAN countries, Australia, Canada, China, Japan, Korea, New Zealand, Pacific Island Nations, Taiwan and the USA, and was recently expanded at the PECC meeting held in Singapore on 20-22 May to include Hong Kong, Mexico, Peru and Chile. The UK has observer status. PECC has been closely involved in the APEC process and has contributed, through its taskforces, to a number of APEC work projects. It is possible that, in due
course, APEC and PECC might merge.
East Asia Economic Grouping (EAEG)
3.
In December last year the Malaysian Prime Minister
Dr Mahathir, concluding that consensus would not be reached in the current Uruguay Round, proposed the setting up of an Asian
trade bloc. The Malaysians have since, however, back pedalled in light of initial reactions from countries in the region.
Many of the intended members of the group, which excluded the
US, Canada, Australia and New Zealand, were alarmed by the idea of a "bloc" and were particularly concerned that it would
detract from the work of APEC. The bloc has therefore become a
"grouping" and will not, the Malaysians maintain, conflict with
the role and objectives of GATT and APEC although Dr Mahathir
has made clear that he has little time for APEC, which he sees
as having been foisted on the region by the US, using Japan and
Australia as surrogates. Reactions to the EAEG remain mixed
ranging from deep scepticism from the Indonesians and the ASEAN
Secretariat in Jakarta to qualified support from Singapore
(which may have more to do with ASEAN solidarity than with a real commitment to the idea). The Indonesians are hoping that the Japanese will veto the idea, but although the Japanese are
also sceptical they have so far avoided an open confrontation
with Dr Mahathir. The Malaysians have, surprisingly, recently
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20dtha