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Indonesia:Ministers to meet on FTA and elimination of trade barriers |
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2004-9-2
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Liberalization of 11 key sectors along with free flow of investment, trade and labor in a region that boasts annual trade worth more than US$700 billion, are the basis for forging a regional economic cooperation by 2020.
Economic Ministers from the 10-member Association of Southeast Asian Nations apart from deliberating on the above issues will also discuss forging free trade agreements with a number of other countries, including China, South Korea, the European Union, New Zealand and Canada.
A three-day meet of Economic Ministers opens Thursday in Jakarta, committing to liberalize 11 key sectors that include agriculture products, automobiles, electronics and textiles.
Reduction in remaining tariffs and elimination of other non-tariff barriers that have hindered the free flow of goods would also be discussed during the meetings.
Ministers are also expected to hold a series of meetings with non-ASEAN countries about forging free trade agreements, an official said.
Discussions with Canada and the European Union had started, he said, while ASEAN is expected to agree on dates for starting negotiations with South Korea, China and Japan.
Beijing and ASEAN are already committed to establishing by 2010 a free-trade area that would combine their huge markets. Chinese Premier Wen Jiabao enthusiastically promoted closer ties during his visit to Bali, saying China should be seen as an opportunity rather than an economic threat.
ASEAN comprises Brunei, Cambodia, Laos, Vietnam, Indonesia, the Philippines, Singapore, Myanmar, Malaysia and Thailand. |
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