TOKYO - Prime Minister Abdullah Ahmad Badawi called for tighter economic and cultural integration of East Asian countries and urged discussion over creating a single regional currency.

"This tidal-wave push towards trade bilaterals, trilaterals and minilaterals is unstoppable. What we must do is to make sure that they are as non-trade diverting as possible. Indeed, they must be as trade-creating as possible," the prime minister said at a seminar on the future of Asia in Tokyo.

Abdullah said the countries concerned must "make East Asian regional integration more comprehensive, going beyond mere economics to the realm of politics and diplomacy."

East Asian nations should expand the present economy-centered ties to wider areas of cooperation such as education, health, labour, science and environment, he said.

The tighter East Asian economic community should become a stronger trading partner with superpowers such as the United States and Europe, Abdullah added.

Common currency

The Malaysian leader also encouraged more active debate on a common Asian currency, as Europeans have engaged in over the euro.

"It seems obvious enough that our financial and monetary cooperation must proceed alongside our trade cooperation," he said.

"It is not too early to start pondering deeply about the virtues and problems of having a single Asian currency," he said.

As a start, East Asian nations should consider building a regional monetary institution, similar to the International Monetary Fund, he said.

Regional governments should also help the private sector stay strong as the main driving force to push for East Asian regional integration via their trade and investment.

"It is high time that the governments of the region gave the private sector more of a helping hand," Abdullah said. - AFP