The future of the East Asian Community is shaped by collective action to respond and manage common challenges, including the need for sustainable management of mineral and energy resources. The high growth in East Asian countries consumes a lot of mineral and energy. Since petroleum and mineral resources is non-renewable, the economic development can only be maintained by putting in a balance between the pressure for natural resources extraction and the need for their sustainability.

 

For some countries in East Asia, natural resources have become the main pillar of economic development.  However, economic problems in the extractive industries are also varied, ranging from unequal distribution to black market. In addition, extractive industries can create severe social and environmental problems. Therefore, countries with abundant natural resources are not always  benefited from the sectors. All these problems need to be addressed in national as well as regional level.

 

East Asian countries can work together to address the extractive industry problems based on the spirit of equality and mutual benefit as stated in the Treaty of Amity and Cooperation (TAC, Article 5). The APT Cooperation Work Plan 2013-2017 has included  the enhancing of energy cooperation (2.7) and mineral cooperation (2.8). In addition, under the cooperation  to deepen political and security cooperation, APT leaders have agreed topromotegoodgovernance (1.1.5). The promotion of good governance can also be included  in the cooperation on  extractive industries.

 

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