AFTA top topic at ASEAN ministers' talks<\/p>\n
BANGKOK (AFP): ASEAN economic ministers gather on the Thai
\nholiday island of Phuket this week for a round of free-wheeling
\ntalks likely to focus on plans to speed up regional free-trade
\nplans, officials said.<\/p>\n
Officials described the meeting on Saturday as a "retreat"
\nwhere ministers would be able to speak their minds without the
\nformal baggage of minders and advisers to guide them.<\/p>\n
"There is no set agenda but we expect there to be three or
\nfour main topics for discussions," Karun Kittisataporn, the
\ndirector general of the Thai commerce ministry's business
\neconomics department, said.<\/p>\n
"It will be very informal ... the ministers will be able to
\nspeak their minds because there won't be any officials in the
\nmeeting."<\/p>\n
Among the topics up for discussion are ASEAN's so-called
\n"bold" trade liberalization measures, the status of economic
\nrecovery plans and issues related to the World Trade Organization
\n(WTO) and other trade blocs.<\/p>\n
Leaders at the Association of Southeast Asian Nations (ASEAN)
\nsummit agreed in Hanoi last year to quicken liberalization under
\nthe ASEAN Free Trade Area (AFTA) plan.<\/p>\n
The more developed ASEAN economies of Brunei, Indonesia,
\nMalaysia, the Philippines, Singapore and Thailand agreed to bring
\ndown tariffs to zero-to-five-percent by 2002 instead of the
\noriginal deadline of 2003.<\/p>\n
The less developed economies -- Vietnam, Laos and Myanmar --
\nhave leeway to catch up.<\/p>\n
"As far as possible they should be reduced to zero instead of
\n0.0-5.0 percent," Karun said.<\/p>\n
"This may cause some difficulties among some ASEAN members so
\nwe could make it a voluntary commitment."<\/p>\n
Opposition to the move has been strongest in the Philippines,
\nwhere the government is under pressure to raise protectionist
\nbarriers to support local industries.<\/p>\n
Manila was warned by the WTO last month over its move to
\nadjust tariffs on selected imports to protect local industries.
\nManila said the increases were only temporary, lasting for one
\nyear.<\/p>\n
The Hanoi initiative was seen as a move to boost international
\nconfidence in Asian economies rocked by the regional crisis which
\nbegan with the float of the Thai baht in 1997.<\/p>\n
Karun said Thailand wanted to clarify which products were
\nexempt from the AFTA tariff reduction scheme.<\/p>\n
"We have found out that there are many cases where products
\nshould not be on the General Exemptions List so there needs to be
\ndiscussions on what the criteria is for this list and how to
\nreduce it as much as possible," he said.<\/p>\n
In related talks scheduled in Phuket on Friday, ministers and
\nofficials will attend the second meeting of the ASEAN Investment
\nArea (AIA) Council.<\/p>\n
Thailand's Board of Investment said the AIA meeting would
\nconsider the creation of an ASEAN investment database, joint
\ninvestment promotions and training programs for officials, plus a
\n"liberalization program" to reduce or eliminate all restrictions
\nto investment.<\/p>\n
Sources here said the delegates, who will arrive in Thailand
\non Thursday and Friday, could spend as much time on Phuket's sun-
\ndrenched golf courses as they do in the closed-door meetings.<\/p>\n
One Malaysian official said: "The ministers will have a free-
\nwheeling exchange of views on all elements of ASEAN economic
\ncooperation."<\/p>\n
Both rounds of talks on Friday and Saturday will be chaired by
\nPhilippine Trade Secretary Jose Pardo.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/afta-top-topic-at-asean-ministers-talks-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}