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75586
Sun, 08/16/2009 - 20:48
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http://m.oananews.org//node/75586
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ASEAN hails success with dialogue partners
BANGKOK, Aug 16 (TNA) - Commerce ministers of the 10-member Association of Southeast Asian Nations (ASEAN) say that have achieved success in talks with their six dialogue partners as the 41st ASEAN Economic Ministers Meeting (AEM) concluded in the Thai capital on Sunday, according to Thai commerce minister Pornthiva Nakasai.
During the meeting which began Wednesday, ASEAN signed a long-awaited free trade agreement (FTA) with India which will take effect from January 1 and will help boost trade between the parties, said Mrs. Pornthiva.
ASEAN members will negotiate with India on investment and service sectors in future, she said.
Another landmark accord was made with China, in which an investment agreement was inked, with China to set up a US$10 billion ASEAN-China Investment Cooperation Fund aimed at supporting basic infrastructure and telecommunication networks in the grouping. Beijing will extend loans amounting US$15 billion to help ASEAN with infrastructure development and communication networks, she said.
On ASEAN FTAs with Australia and New Zealand due to take effect January 1, the ministers agreed that the private sector should be allowed to play more active role, she said. Senior officers have been assigned to conduct studies so that optimum benefits could be achieved.
With South Korea, a memorandum of understanding on goods of origin was signed which will facilitate industrial production within the grouping and that country and also further boost trade and investment. This is in line with ASEAN’s policy to depend less on the Western market and trade more with Asian countries, said Mrs. Pornthiva.
The outcome of the just ended meeting will be submitted to ASEAN summit which will be held in October in Thailand, she added. (TNA)
During the meeting which began Wednesday, ASEAN signed a long-awaited free trade agreement (FTA) with India which will take effect from January 1 and will help boost trade between the parties, said Mrs. Pornthiva.
ASEAN members will negotiate with India on investment and service sectors in future, she said.
Another landmark accord was made with China, in which an investment agreement was inked, with China to set up a US$10 billion ASEAN-China Investment Cooperation Fund aimed at supporting basic infrastructure and telecommunication networks in the grouping. Beijing will extend loans amounting US$15 billion to help ASEAN with infrastructure development and communication networks, she said.
On ASEAN FTAs with Australia and New Zealand due to take effect January 1, the ministers agreed that the private sector should be allowed to play more active role, she said. Senior officers have been assigned to conduct studies so that optimum benefits could be achieved.
With South Korea, a memorandum of understanding on goods of origin was signed which will facilitate industrial production within the grouping and that country and also further boost trade and investment. This is in line with ASEAN’s policy to depend less on the Western market and trade more with Asian countries, said Mrs. Pornthiva.
The outcome of the just ended meeting will be submitted to ASEAN summit which will be held in October in Thailand, she added. (TNA)
