Friday, September 10, 2004
Southeast Asia,major partners in 2-day meet to boost regional trade
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JAKARTA, Indonesia (Reuters) – Southeast Asian economic ministers meet on Saturday and Sunday with counterparts from regional powerhouses China, Japan, and South Korea in an effort to liberalize trade and boost business.
Ministers from the 10-member Association of South East Asian Nations (ASEAN) will also be talking with officials from India, the European Union, Australia, and New Zealand.
The ASEAN ministers agreed on Friday on steps to further liberalize trade and commerce among themselves, but many also think it is essential for their 500-millionstrong region to break down economic barriers with other areas.
"ASEAN must remain open to the global economy. ASEAN must continue to improve its trade and economic ties with its main partners," Indonesia President Megawati Sukarnoputri said in a speech on Friday at the meeting’s opening ceremony.
Endorsing free trade agreements with important world economies, she said the main objective is to widen the market for good produced in ASEAN, and to enable the region to gain access to cheaper sources of capital goods and products.
ASEAN countries have total annual trade worth $720 billion, and their leaders agreed last year to transform the region – which includes military ruled Myanmar, struggling democracy Indonesia, and prosperous Singapore – into a giant EU-style free trade zone by 2020.
Towards that goal, their economic ministers agreed on Friday tariff and non-tariff barriers in 11 sectors should be removed by 2007 by ASEAN’s six most developed members – Singapore, Malaysia, Thailand, Brunei, Indonesia, and the Philippines – and by 2012 by the rest – Vietnam, Laos, Cambodia, and Myanmar.
Specific roadmaps were set for 10 areas, among them electronics, textiles and apparel, tourism, and wood products.
Ministers expect a similar plan on air travel by November, when ASEAN leaders meet at a summit in Laos to decide whether to endorse the recommendations.
ASEAN Secretary General Ong Keng Yong told Reuters the main topic would be free trade agreements (FTAs) when ASEAN ministers meet counterparts on Saturday and Sunday.
"How do we quickly advance the FTA talks which we have with China, India, and Japan and how to launch new talks with the Republic of Korea and Australia and New Zealand?"
ASEAN expects free trade agreements to be completed with China in 2010, India in 2011, and Japan a year later.
Ong said ministers were likely to recommend the formal launch of free trade talks with South Korea, Australia, and New Zealand to ASEAN heads of government, who could formalize the decision at the Laos meeting.
The urgency of ASEAN moves to create trading blocs was increased by the failure of world trade talks last year in Cancun, Mexico, and a dramatic loss of capital inflows since Asia’s 19971998 financial crisis.
However, enthusiasm about moving fast to establish FTAs varies within ASEAN. Not all members feel ready to compete on level playing fields in manufacturing or agriculture.
Megawati warned against too high expectations and comparing ASEAN with the EU or North American Free Trade Area.
"Their experience also demonstrates that, even up to the present, not all their problems have been resolved," she said.
Some experts say FTAs may widen economic disparities both among and within countries.
According to one study, an FTA between Japan and ASEAN would boost the gross domestic product of Thailand and Malaysia by far more over a decade than Indonesia and the Philippines.
JERRY NORTON, September 5, 2004, Manila Bulletin
Proceed to Best of Pinoys
Ministers from the 10-member Association of South East Asian Nations (ASEAN) will also be talking with officials from India, the European Union, Australia, and New Zealand.
The ASEAN ministers agreed on Friday on steps to further liberalize trade and commerce among themselves, but many also think it is essential for their 500-millionstrong region to break down economic barriers with other areas.
"ASEAN must remain open to the global economy. ASEAN must continue to improve its trade and economic ties with its main partners," Indonesia President Megawati Sukarnoputri said in a speech on Friday at the meeting’s opening ceremony.
Endorsing free trade agreements with important world economies, she said the main objective is to widen the market for good produced in ASEAN, and to enable the region to gain access to cheaper sources of capital goods and products.
ASEAN countries have total annual trade worth $720 billion, and their leaders agreed last year to transform the region – which includes military ruled Myanmar, struggling democracy Indonesia, and prosperous Singapore – into a giant EU-style free trade zone by 2020.
Towards that goal, their economic ministers agreed on Friday tariff and non-tariff barriers in 11 sectors should be removed by 2007 by ASEAN’s six most developed members – Singapore, Malaysia, Thailand, Brunei, Indonesia, and the Philippines – and by 2012 by the rest – Vietnam, Laos, Cambodia, and Myanmar.
Specific roadmaps were set for 10 areas, among them electronics, textiles and apparel, tourism, and wood products.
Ministers expect a similar plan on air travel by November, when ASEAN leaders meet at a summit in Laos to decide whether to endorse the recommendations.
ASEAN Secretary General Ong Keng Yong told Reuters the main topic would be free trade agreements (FTAs) when ASEAN ministers meet counterparts on Saturday and Sunday.
"How do we quickly advance the FTA talks which we have with China, India, and Japan and how to launch new talks with the Republic of Korea and Australia and New Zealand?"
ASEAN expects free trade agreements to be completed with China in 2010, India in 2011, and Japan a year later.
Ong said ministers were likely to recommend the formal launch of free trade talks with South Korea, Australia, and New Zealand to ASEAN heads of government, who could formalize the decision at the Laos meeting.
The urgency of ASEAN moves to create trading blocs was increased by the failure of world trade talks last year in Cancun, Mexico, and a dramatic loss of capital inflows since Asia’s 19971998 financial crisis.
However, enthusiasm about moving fast to establish FTAs varies within ASEAN. Not all members feel ready to compete on level playing fields in manufacturing or agriculture.
Megawati warned against too high expectations and comparing ASEAN with the EU or North American Free Trade Area.
"Their experience also demonstrates that, even up to the present, not all their problems have been resolved," she said.
Some experts say FTAs may widen economic disparities both among and within countries.
According to one study, an FTA between Japan and ASEAN would boost the gross domestic product of Thailand and Malaysia by far more over a decade than Indonesia and the Philippines.
JERRY NORTON, September 5, 2004, Manila Bulletin
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