ASEAN admits trade talks hit troubles<\/p>\n
Elisia Yeo, Agence France-Presse\/Kuala Lumpur<\/p>\n
Negotiations over a raft of free-trade deals between Southeast
\nAsia and its neighbors have run into problems, but the region
\nremains committed to striking deals, a top official said on
\nSaturday.<\/p>\n
\"Not all of them are moving along satisfactorily as we would
\nlike to see,\" Association of Southeast Asian Nations (ASEAN)
\nchief Ong Keng Yong said at a business forum on the sidelines of
\nthe bloc's annual summit.<\/p>\n
Ong said that deals with China, India, Japan, South Korea,
\nAustralia and New Zealand had hit difficulties over reaching
\ncommon standards, as well as balancing the interests of different
\nbusiness lobbies.<\/p>\n
\"We are carrying on our negotiations with China on trade and
\nservices and investment groups,\" he said of the ASEAN-China free
\ntrade agreement, which is targeted to be struck by 2010.<\/p>\n
\"For Korea, we have moved forward, although there are still
\nsome difficulties,\" he said.<\/p>\n
\"For Australia and New Zealand, we have intensified our
\nnegotiations and there are various activities ongoing which will
\nbe facilitating\" discussion.<\/p>\n
With the economies of regional heavyweights Japan and India,
\nOng indicated discussions were tough.<\/p>\n
\"We are undergoing very hard negotiations but we believe we
\nshould be able to come up with something satisfactory that is
\ngood,\" he said, without elaborating.<\/p>\n
The ASEAN chief said that despite the hurdles, it was vital
\nthat the free-trade agreements (FTAs) were reached.<\/p>\n
Underlining the difficulties, Thailand on Friday refused to
\nsign a trade agreement between South Korea and ASEAN, baulking at
\nSeouls insistence that rice be protected from tariff cuts.<\/p>\n
Ong said that ASEAN was still optimistic that the two sides
\nwill come to an agreement on the trade accord, which is a
\nprecursor to a full FTA.<\/p>\n
Malaysian Prime Minister Abdullah Ahmad Badawi deflected
\ncriticisms that the array of free-trade agreements being thrashed
\nout in the region could undermine global talks under the aegis of
\nthe World Trade Organization (WTO).<\/p>\n
\"It has no intention to replace the WTO but it will be like
\nbuilding blocks towards a global kind of FTA,\" he said at the
\nbusiness forum.<\/p>\n
Abdullah said the ASEAN agreements were not aimed at shutting
\nout other countries, but at staying competitive in the face of
\nthe economic powerhouses of China and India.<\/p>\n
\"It should be welcome news to all international traders that
\nregional integration within Asia will not create barriers to
\ntrade with the rest of the world,\" he said.<\/p>\n
Abdullah said that a study investigating the potential for a
\ngiant East Asian free-trade area embracing the 10-member ASEAN
\nand its \"plus three\" partners, China, Japan and South Korea, was
\nmaking good progress. \"I believe it should become a reality,\" he
\nsaid.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asean-admits-trade-talks-hit-troubles-1447893297",
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