Asian political party representatives meet to exchange views on social market economy

SIEM REAP-ANGKOR, Cambodia, Dec. 11, 2009: Cambodia co-chaired with Pakistan held a two-day seminar on “social market economy” with the participation of 16 representatives of Asian political parties aimed at exchanging views and experiences to find a suitable policy, which could be applied for their own national strategy.

Mr. Yos Son, Chairman of the Commission for International Affairs, of the Cambodian People’s Party (CPP), said at the opening remarks that the representatives from the said political parties, many of them are the ruling parties, can share their experiences in contribution to the establishment of an “Asian Community”.

“We are hoping that this Community would become one-family in which all members will obtain peace, security, stability, prosperity and sustainable development,” Mr. Yos Son addressed in the meeting, which is held from Thursday to Friday in Siem Reap, the land of treasures and smile.

He also said that “the leaders of the Cambodian People’s Party have highly valued the key role of the social market economic system, which guaranteed the balance between the free market economy and the social security system.”

His Excellency Dr. Sok An, Deputy Prime Minister, Member of the Standing Committee of the Cambodian People’s Party and also Vice-President of CDI- Asia Pacific since 2006, said “social market economy is an emerging economic system in Asia widely embraced by prominent political figures.”

“This presents a middle path for the future promotion of stability and prosperity since the social market economy connects with the society as a whole and aimed at promoting the well-being of all individuals,” Dr. Sok An, also Minister in charge of the Council of Ministers, said at the closing seminar.

“We have learned from the bitter lessons of the current global economic crisis. Its negative impact on the global economy and society will linger on for many years to come.”

“It is crucial for all leaders of Asian political parties to seek to better understand and consider the endorsement of the “social market economy” concept, which has been widely discussed,” said Sok An.

The two-day international seminar, which was joined by the representatives of Asian political parties, adopted the “Angkor Initiative for Stability, Peace and Prosperity, a Centrist Model for Asia.”

This Angkor Initiative covered three components: economy, politics, and peace through reconciliation in post-conflict situation.

“This Initiative has particular relevance for Northeast Asia, Southwest Asia and Southeast Asia, which remain mired in internecine conflicts and tension,” said the joint statement signed by the Co-chairmen of the International seminar and CDI-Asia Pacific Secretariat.

The Angkor Initiative agreed to establish a working group, which will implement this vision, prepares an agenda and plan of action for a CDI conference of all continents which will convene in Cambodia in July, 2010 to endorse, promote and implement this Initiative.

Cambodia, under the great leadership by Prime Minister Hun Sen of CPP, has been moving on the right track over the last 30 years since the Party drove the Khmer Rouge from power in 1979, the regime which was blamed for the death of an estimated more than 2 million who died of starvations, executions, diseases and forced labors.

“The CPP has acquired a number of great experiences from the implementation of its economic policy along the line of free market economic system,” he said.

Cambodia’s growth hit double digits between 2005 and 2007 thanks to the government’s policy of free market economy, which brought along the multi-billion investment of foreign direct investment (FDI).

The boom of construction of physical infrastructure to support the increasing demands of tourism industry, the garment exports and the country’s bountiful commodity also largely contributed to this Southeast Asian nation’s growth.

Cambodia’s officials have said, despite the global downturn began in mid-2008, the impact on its economy was not much—given the country’s key sector of agriculture and tourism are in good shape.

Some participants praised Cambodia’s efforts to overcome the financial crisis.

“Having seen wars... and conflicts, Cambodia has demonstrated this resilience by bouncing back after overcoming crises and difficulties,” said Mushahid Hussain Sayed, Secretary General of Pakistan Muslim League, told the seminar.

“Today, Cambodia is a vibrant democracy and a thriving economy,” he told the floor.

(Press and Quick Reaction Unit of the Office of the Council of Ministers)