ASEAN and China to launch talks on huge free trade zone<\/p>\n
Agence France-Presse, Singapore<\/p>\n
A first round of talks aimed at creating what will be the world's
\nbiggest free trade zone, encompassing China and South East Asia,
\nwill be held in Beijing this week, Singapore's trade ministry
\nsaid.<\/p>\n
A Singapore delegation will be in the Chinese capital from May
\n15-16 to start talks on a proposed Free Trade Agreement (FTA)
\nbetween China and the ten-nation Association of Southeast Asian
\nNations (ASEAN), the ministry said.<\/p>\n
Leaders from the Association of Southeast Asian Nations
\n(ASEAN) and China last year agreed to work out an FTA within the
\nnext 10 years, a move that could result in an integrated market
\nof nearly two billion people, a third of the planet's population.<\/p>\n
Last month, visiting Chinese Vice President Hu Jintao and
\nSingapore Prime Minister Goh Chok Tong called for early
\nnegotiations on the proposed agreement that would cover 10
\nSoutheast Asian countries as well as China.<\/p>\n
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia,
\nMyanmar, the Philippines, Singapore, Thailand and Vietnam.<\/p>\n
Singapore also confirmed Saturday that it had been approached
\nby Taiwan about a free trade deal city state and the island.<\/p>\n
\"Chinese Taipei (Taiwan) previously proposed to Singapore an
\nFTA with the separate custom territories of Taiwan, Penghu,
\nKinmen and Matsu,\" the statement said.<\/p>\n
It said Singapore has studied the proposal \"and is prepared to
\nproceed with a joint study to explore the feasibility of an FTA
\nwithin the framework\" of the World Trade Organization and the
\ngoals of the Asia-Pacific Economic Cooperation (APEC) forum.<\/p>\n
The small but affluent and trade-dependent city-state has been
\nspearheading a flurry of FTA negotiations beyond its borders. It
\nhas signed agreements with New Zealand and Japan and is in the
\nthick of talks with the United States and Australia, with which
\nit will hold a seventh round of negotiations from May 20-24.<\/p>\n
The trade ministry said it expected the trade deal with Japan
\nto take effect in the middle of the year following the adoption
\nof the necessary legislation in both countries.<\/p>",
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