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ASEAN, China on Track to Ink Services Pact in
December: Minister
KUALA LUMPUR, Aug 24, 2006 (AFP) - Southeast Asia
is on track to sign an agreement with China opening up its lucrative
services sector by the end of the year, Malaysia's Trade Minister
Rafidah Aziz said Thursday. The deal would help Southeast Asian
firms do business in China's services industries including banking,
information technology, and tourism. "The issues are very technical.
Once that can be cleared, we will be able to sign," Rafidah said
after talks between ministers from the Association of Southeast
Asian Nations (ASEAN) plus China, Japan and South Korea. "We are
supposed to sign it at the ASEAN-China Summit, that is our
deadline... December this year. I am confident," she told reporters.
An ASEAN official earlier said that Southeast Asian countries were
keen to penetrate China's services sector after sealing a Free Trade
Agreement (FTA) governing trade in goods in 2004. "Now we are trying
to force them to open up the services sector," he said, on condition
of anonymity. China's vice minister of commerce Yi Xiao Zhun
Thursday vowed to accelerate the negotiations and attributed the
slow progress to lack of familiarity with the area. "Now we are
moving to other areas such as services. We are ready to accelerate
the discussions," he said. "China is not very experienced on
services ... and probably this is why the progress has been slow,"
he said. Another ASEAN official said that 12 service sectors were
under discussion and that they include finance, telecommunications
and tourism. "These are all billion dollar business industries.
ASEAN wants a piece of the action," he said. jsm/sls/lh |