ASEAN MEMBERS TO SIGN TWO TRADE PACTS

BANGKOK, Feb 26 (Bernama) -- Two important trade agreements are expected to
be signed at the 14th Association of South-East Asian Nations (Asean) Summit.

Deputy secretary general for Asean Economic Community (AEC), Pushpanathan,
said the agreements -- Asean Trade in Goods Agreement and Asean Comprehensive
Investment Agreement -- would not only boost trade liberalisation among the ten
members of the grouping but also facilitate the process.

"The Asean Trade in Goods Agreement is a comprehensive agreement not only
for trade liberalisation but will also facilitate Customs and standards," he
said during a special session on AEC after the opening of 2008 Asean Business
and Investment Summit here Wednesday.

The agreement, which will first go through a ratification process, will have
clear guidelines, among others, on tariff reductions.

He said the business community would know when certain product tariffs would
be reduced.

"There is a schedule attach to it. So, they can be prepared well ahead," he
said.

Pushpanathan said the Asean Comprehensive Investment Agreement would provide
a clear timeline for investment liberalisation in line with the AEC.

"The benefits will be extended to foreign-owned Asean-based investors," he
said.

-- BERNAMA