ASEAN's progress on trade<\/p>\n
The countries of Southeast Asia may differ on a host of
\npolitical problems that seem intractable, but there is one area
\nin which they have made some promising breakthroughs -- trade.<\/p>\n
A proposal that the Association of Southeast Asian Nations
\n(ASEAN) complete the implementation of an Asean Free Trade Area
\n(AFTA) by 2000 evoked favorable comments from delegates attending
\nthe 27th Asean Economic Ministers meeting, which ended at the
\nweekend in Brunei. The current deadline for setting up AFTA is
\n2003.<\/p>\n
It has long been clear that the AFTA schedule must be reviewed
\nand shortened in the interests of free trade in this region.<\/p>\n
There is a realization that now, nowhere are the aspirations
\nto join the middle class greater, nowhere is the climb up the
\neconomic ladder faster, than in Asia. The incredible economic
\ngrowth of the Asia-Pacific region, particularly East Asian
\nnations, is catapulting huge numbers of people to a better life.<\/p>\n
A modern, prosperous Asia-Pacific will eventually be a more
\nopen place. The region offers a huge market for American goods --
\nif Washington's policy-makers can forge a coherent, well-
\nintegrated approach to Asia.<\/p>\n
ASEAN countries also agreed at the ministerial meeting to give
\neach other concessions in the services sector that are better
\nthan those provided under the World Trade Organization's (WTO)
\nGeneral Agreement on Trade in Services (GATS).<\/p>\n
Hong Kong has always felt that the services sector agreement
\nof the WTO was flawed because it was not necessarily being done
\non a most-favored-nation basis. Individual WTO members can put
\ntheir own offers on the table and open them to whoever they like,
\ndepending on what reciprocal offers they get. This was clearly a
\nbackward step; the idea should be to offer complete openness to
\neveryone.<\/p>\n
-- Hongkong Standard<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/aseans-progress-on-trade-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }