The Fifth Meeting of the ASEAN Working Group on Environmental Economics (AWGEE) was held on 5-6 December 1994 in Kuala Lumpur, Malaysia. The meeting was chaired by Malaysia which was given the task to lead the AWGEE after Indonesia, which had chaired the working group since its inception in 1991. Delegates from Indonesia, Malaysia, Philippines, Singapore and Thailand attended the meeting.

The objectives of the meeting were to discuss the current development of environmental economics in each member county, to share experiences and important findings as well as to pursue collaborative research and cooperation in the following areas :

1. Environmental and Natural Resource Accounting ;

2. Economic Instruments for Pollution Prevention ; and

3. Trade Policy and Its Impact on the Environment.

Among the major topics deliberated at the Fifth AWGEE Meeting were:

1. the progress report of each member country in the field of environmental economics

2. implementation of project proposal on Environmental and Natural Resources Accounting in ASEAN countries

The meeting also reviewed the work plan for 1995/1996 and agreed to undertake the following activities :

1. publich an ASEAN Journal of Environmental Economics ;

2. organize a workshop on environmental and natural resources accounting in ASEAN countries

3. establish an inventory of ASEAN research projects in environmental economics; and

4. pursue possible collaborative activities with potential donors / sponsors

The Director of the Economy and Environment Program for Southeast Asia (EEPSEA) was invited to talk to the working group on possible AWGEE / EEPSEA collaborative programmes.