OBAMA KEEN ON ASEAN-US SUMMIT

       US President Barack Obama has confirmed to Prime Minister Abhisit Vejjajiva that he would like the first ever Asean-US Summit to take place in Singapore later this year.
       The two leaders met prior to the G-20 Summit session on Friday at the David L Lawrence Convention Centre in Pittsburgh, Pennsylvania.
       Abhisit welcomed Obama's keen interest in Asean-US relations.
       "It will commemorate the most productive and enduring relationship Asean has with its dialogue partners," he said, according to a source attending the meeting.
       Thailand currently holds the Asean chair and the PM was representing the grouping at the G-20 Summit.
       The source said the US president had also informed Asean Secretary-General Surin Pitsuwan, who was accompanying Abhisit, that he would like to see US-Asean engagement becoming even more productive and meaningful in all areas.
       This came one day after US Secretary of State Hillary Clinton made public at a Friends of Burma meeting at the United Nations that there would be a review of US-Burma relations.
       "The president appears to be very keen and very clear about his desire to see our partnership moving onto a higher plane. That is very encouraging and gratifying indeed," said Surin when asked via e-mail about Obama's comments to Abhisit.
       Since the Asean meeting in Phuket in late July, Asean and US diplomats have been engaged in a frenzy of activity to improve the Asean-US dialogue partnership, which is 32 years old.
       A new momentum toward better relations has gained pace since the new US administration came into power in January. Clinton's visit to the Asean Secretariat in Jakarta in February - the first ever by a US secretary of state - promised a reversal in the long-standing US low-profit engagement with the grouping.
       The US in July signed an agreement to accede to the Asean Treaty of Amity and Cooperation after 17 years of consideration.
       The accession has increased mutual confidence between Asean and the US.
       A total of 26 countries have now signed the 1976 regional code of conduct.
       The first Asean-US Commemorative Summit, which was originally planned for September 2007, is expected to take place in Singapore when the island-state hosts the next summit of leaders from the Asia-Pacific Economic Coo-peration (Apec) countries in November.
       Most Asean countries and the US are part of Apec.
       Surin also said via e-mail that Asean-US relations being put back on centre stage formed part of Washington's Asian diplomatic drive.
       At the G-20 Summit, Abhisit reiterated the role that Asean+3 (China, Japan and South Korea) was playing in solving the global financial crisis.
       He discussed the regional liquidity-support mechanism known as the Chiang Mai Initiative Multilateralisation, which will become effective later this year.
       He said the multilateral selfhelp mechanism would enable Asean+3 countries to systemically support each other in solving their liquidity problems.
       KEY AGREEMENTS
       These are the main points of agreements by leaders of the Group of 20.
       ECONOMIC GROWTH: Support economic activity until recovery is assured. Finance ministers will develop coordinated exit strategies from stimulus efforts at appropriate time.
       NEW ROLE FOR G-20: G-20 will replace the G-8 as the main forum for coordinating global economic policy. The G-20 includes rapidly industrialising nations such as China, India and Brazil that are not part of the wealthier G-8.
       MORE REGULATION: Improve the regulation, functioning and transparency of financial and commodity markets "to address excessive commodity price volatility". Financial institutions "must be subject to consistent, consolidated supervision and regulation with high standrads."
       BONUS PAYMENTS: Tie bank executives' pay more closely to long-term performance of their investment decisions. Discourage guaranteed multiyear bonuses, which encourage risky investments.
       TRADE: Oppose protectionism. Swiftly implement the $250-billion (Bt8.38 trillion) trade finance initiative. Oppose new barriers to investment or to trade in goods and services.
       FOSSIL FUELS: Phase out inefficient fossil-fuel subsidies and push toward investment in cleaner energy sources. "Spare no effort" to get a global warming agreement passed in Copenhagen, Denmark in December.
       BALANCED GRWOTH: Take steps to ensure "strong, sustainable and balanced growth" and to build a stronger international system. Monitor economic policies to pursue sustainable patterns that don't rely heavily on huge exports from a few countries and huge consumption by a few others.
       POOR PEOPLE: Through the World Bank and regional development banks, take steps "to increase access to food, fuel and finance among the world's poorest while clamping down on illicit outflors".