ID :
17502
Sat, 08/30/2008 - 11:50
Auther :
Shortlink :
http://m.oananews.org//node/17502
The shortlink copeid
GREATER ECONOMIC INTEGRATION & TRADE EXPANSION ACHIEVED AT AEM MEETING
SINGAPORE, Aug 29 (Bernama) -- In keeping with the Asean spirit, ministers at the recent 40th Asean Economic Ministers Meeting (AEM)and Related Meetings in Singapore, succeeded in achieving greater economic integration and expansion of trade within the Asia Pacific region.
As Asean countries work towards fulfilling the aspirations and goals
of the
Asean Economic Community (AEC) by 2015, significant progress was also made in
respect of economic cooperation with India as well as Australia and New Zealand.
The AEC emanated from the vision of Asean leaders to propel the region into
a single market and production base that was highly competitive and fully
integrated into the global community by 2015.
Asean secretary-general, Dr Surin Pitsuwan, told journalists during the AEM
meeting that the conclusion of the Trade in Goods (TIG) agreement with India was
certainly a milestone and a cause for celebration in Asean.
The conclusion of the TIG was announced by ministers at the AEM meeting,
following the AEM-India consultations.
The TIG agreement has provisions for special tariff reductions for five
products, including crude and refined palm oil, coffee, pepper and tea which
are the key exports of some Asean members.
The TIG agreement is set to be signed by the leaders of Asean and
India at
the Asean-India Summit in December this year in Thailand.
Moving forward, Asean and India will embark on negotiations for services
and investments to serve a single market of 1.7 billion people.
Singapore's minister for Trade and Industry, Lim Hng Kiang said it was
India and Asean's determination that enabled the TIG agreement to be concluded
after six years of negotations.
"This is a process of understanding and respecting each other's
sensitivities while being flexibile," he told a news conference.
The AEM meeting held from Aug 25-29, was attended by 24 ministers from the
Asean and Asia Pacific region.
Dr Surin stated that the breakthrough in negotiations at the AEM meeting
this year, certainly gave impetus to the stalled Doha round trade talks in
Geneva.
The trade talks reached an impasse in Geneva last month, despite seven
years of hard negotiations between member countries of the WTO.
"Most of the ministers from Asean expressed the wish that the Doha trade
negotiations should be revisited in order to move forward in global
trade," he said.
He also said that Asean now looked forward to forging free trade agreements
with the European Union(EU)countries which could prove challenging.
Asean managed to make a breakthrough in its trade negotiations with
another important trade bloc, Australia and New Zealand, during the AEM
meeting.
The negotiations between Asean, Australia and New Zealand for the
Asean-Australia-New Zealand Free Trade (AANZFTA) agreement started in March
2005.
The AANZFTA covers trade in goods, investment, trade in services, financial
services, telecommunications, electronic commerce,intellectual property,
competition policy and economic cooperation.
The signing of the AANZFTA agreement is scheduled for December this
year.
During the AEM meeting, deliberations also focused on cooperation with
Japan, mainly in the implementation of the Asean-Japan Comprehensive Economic
Partnership (AJCEP) agreement signed earlier this year.
-- BERNAMA
As Asean countries work towards fulfilling the aspirations and goals
of the
Asean Economic Community (AEC) by 2015, significant progress was also made in
respect of economic cooperation with India as well as Australia and New Zealand.
The AEC emanated from the vision of Asean leaders to propel the region into
a single market and production base that was highly competitive and fully
integrated into the global community by 2015.
Asean secretary-general, Dr Surin Pitsuwan, told journalists during the AEM
meeting that the conclusion of the Trade in Goods (TIG) agreement with India was
certainly a milestone and a cause for celebration in Asean.
The conclusion of the TIG was announced by ministers at the AEM meeting,
following the AEM-India consultations.
The TIG agreement has provisions for special tariff reductions for five
products, including crude and refined palm oil, coffee, pepper and tea which
are the key exports of some Asean members.
The TIG agreement is set to be signed by the leaders of Asean and
India at
the Asean-India Summit in December this year in Thailand.
Moving forward, Asean and India will embark on negotiations for services
and investments to serve a single market of 1.7 billion people.
Singapore's minister for Trade and Industry, Lim Hng Kiang said it was
India and Asean's determination that enabled the TIG agreement to be concluded
after six years of negotations.
"This is a process of understanding and respecting each other's
sensitivities while being flexibile," he told a news conference.
The AEM meeting held from Aug 25-29, was attended by 24 ministers from the
Asean and Asia Pacific region.
Dr Surin stated that the breakthrough in negotiations at the AEM meeting
this year, certainly gave impetus to the stalled Doha round trade talks in
Geneva.
The trade talks reached an impasse in Geneva last month, despite seven
years of hard negotiations between member countries of the WTO.
"Most of the ministers from Asean expressed the wish that the Doha trade
negotiations should be revisited in order to move forward in global
trade," he said.
He also said that Asean now looked forward to forging free trade agreements
with the European Union(EU)countries which could prove challenging.
Asean managed to make a breakthrough in its trade negotiations with
another important trade bloc, Australia and New Zealand, during the AEM
meeting.
The negotiations between Asean, Australia and New Zealand for the
Asean-Australia-New Zealand Free Trade (AANZFTA) agreement started in March
2005.
The AANZFTA covers trade in goods, investment, trade in services, financial
services, telecommunications, electronic commerce,intellectual property,
competition policy and economic cooperation.
The signing of the AANZFTA agreement is scheduled for December this
year.
During the AEM meeting, deliberations also focused on cooperation with
Japan, mainly in the implementation of the Asean-Japan Comprehensive Economic
Partnership (AJCEP) agreement signed earlier this year.
-- BERNAMA
