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ASEAN to Finish Smaller Trade Deals Amid
Mega-Bloc Talk
KUALA LUMPUR, Aug 22, 2006 (AFP) - Southeast Asia
wants to forge free-trade agreements with individual countries
before considering an ambitious Japanese proposal for a giant Asian
trade bloc, a senior official said Tuesday. Ong Keng Yong, the
secretary-general of the Association of Southeast Asian Nations
(ASEAN), said the group's economic ministers would discuss Japan's
proposal with the country's trade minister, Toshihiro Nikai, during
talks here Wednesday. However, he said they were more concerned with
finishing off ASEAN free-trade agreements (FTAs) currently being
negotiated with regional trading partners. "The idea is that our
ASEAN-plus-one FTAs, like ASEAN plus Japan, ASEAN plus China, all
these FTAs should come first, because we are still negotiating," Ong
told reporters. "So we should finish this first and then we talk
about the bigger thing called ASEAN plus six," he said. Japanese
officials last week proposed the ambitious trade bloc embracing the
10-member ASEAN plus China, Japan, South Korea, Australia, India and
New Zealand. The 16 nations last year formed the East Asia Summit,
which is seen as a precursor to an eventual European-style
free-trade community. Japan is this week expected to announce a fund
worth up to 100 million dollars to advance the proposed East Asian
economic partnership. Ong said that Tokyo was proposing a
feasibility study into the creation of the East Asia trading bloc.
"The Japanese proposed a study there and we are saying, not a bad
idea. We want the study, show us the results and then if it's good,
we can think about it," he said. Although signalling caution towards
Japan's proposal, Ong said the mood was positive when ASEAN economic
ministers touched on Japan's idea for a feasibility study during
meetings Tuesday. "The mood is one of exuberance because people are
interested in getting ASEAN to do so much. Now the question is
whether we can chew all that is on our plate," he said. ey/sls/skj |