ASEAN to look into free trade pact with EU<\/p>\n
Agence France-Presse, Hanoi<\/p>\n
Economic ministers from Southeast Asian nations ended a meeting
\nin Vietnam on Wednesday agreeing to study a potential free trade
\nagreement (FTA) with the European Union, a joint statement said.<\/p>\n
Ministers or senior officials from the 10 ASEAN countries met
\nEU Trade Commissioner Peter Mandelson in Halong city 170
\nkilometers (more than 100 miles) east of Hanoi on Wednesday after
\ntalks among themselves the previous day.<\/p>\n
The ministers discussed implementation of the "Trans-Regional
\nEU-ASEAN Trade Initiative" and told Mandelson of its value in
\npromoting regional integration as well as for "greater
\nunderstanding between the two regions.<\/p>\n
"These are important components not only in integrating ASEAN
\nmember countries but also in fostering ASEAN-EU economic
\ncooperation, which would pave the way towards a closer ...
\npartnership," the statement said.<\/p>\n
Mandelson for his part briefed the ASEAN ministers on the new
\nEU generalized system of preferences but said that "because of
\nsome sensitivities, especially in the textile sector, the process
\nhas been delayed," it noted.<\/p>\n
The European Union has been considering the launch of an
\ninvestigation into soaring Chinese clothing imports after the
\nending of a global quota system on Jan. 1, while France has urged
\nmore immediate measures to protect European textile producers.<\/p>\n
The European Commission, while facing pressure from the
\ntextile industry to act against Chinese imports, Brussels is wary
\nof not moving too quickly for fear of stirring up a painful
\ndispute at the World Trade Organization (WTO).<\/p>\n
On Tuesday, the Southeast Asian ministers discussed
\nimplementation of the ASEAN Framework Agreement for the
\nIntegration of Priority Sectors.<\/p>\n
Under it, measures are identified to enable the integration of
\nagro-based products, air travel, automotive, e-ASEAN,
\nelectronics, fisheries, healthcare, rubber-based products,
\ntextile and clothing, tourism, and wood-based products.<\/p>\n
The ministers also broached issues regarding economic co-
\noperation with non-block members namely China, Japan, South
\nKorea, India, Australia and New Zealand to establish FTAs.<\/p>\n
They noted that the region should examine the possible impacts
\nof FTAs on integration plans and set up effective coordination to
\nsafeguard the interests of all members, especially the less
\nadvanced ones -- Vietnam, Laos, Cambodia and Myanmar.<\/p>\n
The ASEAN-China accord signed at the Vientiane summit in
\nDecember will start on July 1.<\/p>\n
The two sides will have to start cutting tariffs on certain
\ntypes of goods to between zero and five percent by 2010 for
\nSoutheast Asia's six more economically advanced members and by
\n2015 for Laos, Vietnam, Cambodia and Myanmar.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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