ASEAN likely to keep some tariffs<\/p>\n
BANGKOK (Dow Jones): Association of South East Asian Nation
\n(ASEAN) senior officials have agreed in principal to allow member
\ncountries maintain import tariffs on some key industries, a
\nsenior Thai commerce ministry official said Thursday.<\/p>\n
The agreement would allow member countries retain tariffs on
\ngoods on which protection was supposed to end by the end of 1999,
\nKarun Kittisataporn, the ministry's director-general told a news
\nconference.<\/p>\n
Member countries will have to justify their request for
\nprotection for particular goods or industries, and provide a
\ntimeframe for ending the protection, according to Karun.<\/p>\n
The decision was made at a meeting held earlier this week in
\nBangkok, he added.<\/p>\n
Asean needs to change its free trade strategy after Malaysia
\nrequested its auto industry be excluded from the required tariff
\ncuts.<\/p>\n
The agreement however, still needs to be endorsed by Asean
\neconomic ministers when they meet in Chang Mai, Thailand, in
\nOctober, before it becomes effective.<\/p>\n
The initial agreement covers lists of goods entitled to
\nprotection from import tariff cuts, and conditions governing
\napplications for such protection, Karun said.<\/p>\n
Import tariff cuts on selected goods under the ASEAN Free
\nTrade Area agreement have been effective since the beginning of
\nthis year.<\/p>\n
Senior ASEAN officials also agreed to prepare an agreement on
\nASEAN cooperation in the areas of electronic commerce,
\ninvestment, and information technology, to be ready for
\npresentation at the meeting in October.<\/p>\n
ASEAN comprises Indonesia, Malaysia, Philippines, Thailand,
\nSingapore, Vietnam, Laos, Cambodia, Brunei, and Myanmar.<\/p>",
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