ASEAN tends to conclude the negotiations on Free Trade

23/08/2007 12:00 - 968 Views

Agreement in 2007   On 22nd August, Philippines’ Deputy Head of Department of Trade and Industry Raymon Vincete Kabigting says the Association of Southeast Asian Nation (ASEAN) wants to conclude all the negotiations with its economic partners such as Japan and China on the Free Trade Agreement (FTA) in 2007.

Raymon Vincete Kabigting reveals that the Annual ASEAN Economic Minister Meeting, taking place in Philippines on 24th August, will discuss different FTAs in the area and hopes that member nations will make great effort to finish other unfinished ones in this year. After those FTA are finished, other new FTA will be hung on the balance temporarily.

The unfinished FTAs are those between ASEAN and China, ASEAN and Japan, and ASEAN and Korea, among which ASEAN- China FTA is the most promising. Accordingly, one part of this agreement has been put into effect such as the trade agreement on service sector.

Talking about the ASEAN- Japan FTA, Mr. Kabigting thinks “it has more opportunities to end earlier.” There are 8 out of 10 members of ASEAN who have discussed with Japan the “list of the last requirements” on free goods.

ASEAN- Korea FTA is now in progress and the two parties will make enormous efforts to finish the trade agreement on the sector of service.

In addition, Mr. Kabigting says Japan’s proposals about the thorough economic cooperation in Eastern Asia, the so-called ASEAN+6, should be put into consideration.

(Vietnam News Agency)
24/08/2007

Source: vinanet
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