During the ASEAN Plus 3
Finance and Central Bank Deputies Meeting last December, Japan, Singapore, Cambodia, Indonesia, Myanmar and the Lao People's Democratic Republic (PDR) signed an MOU on the establishment of SEADRIF.
Although this event was held back-to-back with the ASEAN Summit and the ASEAN Plus 3 Summit, hence reducing the historical significance of the EAS as a standalone diplomatic event, its immediate strategic importance was not lost on the various countries that attended the EAS or observed its outcomes.
ASEAN Plus 3 or ASEAN Plus 6: Quo Vadis, East Asian Summit?
(4) In other words, should the East Asian community, which is based on a motley collection of member states that want to be a part of EAS, be first based on ASEAN plus 3 or ASEAN Plus 6?
ASEAN Plus 3 traces its beginnings to 1997 when all thirteen countries decided to consult with one another to deal with the Asian financial crisis.
In other words, statistics are showing that East Asian economy, comprising ASEAN Plus 3, India, Australia and New Zealand too, will be the locomotive of economic growth.