CEBU, Philippines, Jan. 13 (UPI) -- Philippine President Gloria Macapagal-Arroyo Saturday opened the ASEAN Summit in Cebu with a bright forecast for the future of global trade.
"I believe the future of ASEAN is bright indeed," Arroyo told leaders attending the 12th annual summit of the Southeast Asian Nations, Xinhua reported.
Representatives from Brunei,Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam signed a proposed charter they hope to finalize by the 13th summit in Singapore in November.
"We are committed to establish an ASEAN Charter as a crowning achievement of 40 years of ASEAN to enable ASEAN to meet future challenges and opportunities," the declaration read.
ASEAN leaders also said "an ASEAN Charter will serve as a firm foundation in achieving one ASEAN Community by providing an enhanced institutional framework as well as conferring a legal personality to ASEAN."
The group said the charter will give the regional group the ability to confront developments like rapid globalization and new technologies.
