FEALAC - a new Trans-Pacific Dialogue: a view from Paraguay

Abstract

East Asia and Latin America were pillars of global economic growth in the early 1990s and, despite their recent financial turmoil, still represent huge long-term growth potentials. This article, as a result of a documental research based mainly on interviews and website information, explores the relevant and potential roles that FEALAC (Forum for East Asia - Latin America Cooperation), being a nascent interregional grouping, may play now and further for the economies of the Pacific Basin - and its positioning on the international economic order. FEALAC, previously called EALAF or the East Asia - Latin America Forum, was originally proposed by Singapore's Prime Minister Goh Chok Tong during a visit to Chile in September 1998. His idea for a trans-pacific dialogue, as well as a new forum to carry it out, gained support. Thus the First Meeting was held in Singapore at the senior officials level. The Second Meeting was held in Santiago, Chile, a year later, and the Third, a year later and again in Santiago. Back to back with this Third Senior Officials Meeting was the First Ministerial Meeting, at which the forum actually came into existence and gained momentum. FEALAC is an Asian - Latin American version of ASEM, a 25 members Asia - Europe Meeting, which was inaugurated in 1996, also at the initiative of Singapore. At that initial Ministerial Meeting held in March of 2001, FEALAC sets its agenda at biennial ministerial conferences to be held alternatively in Asia and Latin America. Besides determining that the next Ministerial would be held in Manila, the Philippines, in mid-2003. The member countries also decided to gear up their dialogue and cooperation in economic and social areas. The Meeting was instrumental in setting out the directions for future East Asia - Latin America cooperation, and also admitted Costa Rica, Cuba and El Salvador to full membership . Currently, the 30 FEALAC countries include 15 Latin American members namely Argentina, Bolivia, Brazil, Colombia, Chile, Costa Rica, Cuba, Ecuador, El Salvador, Mexico, Panama, Paraguay, Peru, Uruguay and Venezuela, as well as 15 Asian counter-partners namely Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam. It is interesting to note that this roster includes all the 10 members of ASEAN or the Association of Southeast Asian Nations. This paper also points out that FEALAC may be considered as a 'radical new initiative' since it excludes the United States, according to a potentially strategic rationale with a possible long-term goal of keeping the U.S. 's FTA development under check, and that FEALAC may further serve as an forum for exchanging views on security issues which affect the stability within and among its respective members and regions. Taking into account the potential roles of FEALAC and the goodwill that Republic of China in Taiwan has always exhibited in the international arena, it would be highly recommendable and comfortable to have Taiwan taking part of this forum.