S'pore trade talks won't hurt ASEAN bloc<\/p>\n
HANOI (Dow Jones): Bilateral trade talks between Singapore and
\nthree of its global trading partners won't hurt efforts of
\nAssociation of Southeast Asian Nations, or Asean, to negotiate
\ntrade deals as a bloc, Singapore's foreign minister told Dow
\nJones Newswires Friday.<\/p>\n
Speaking on the sidelines of a week-long series of meetings
\nbetween Asean members and various international dialogue
\npartners, S Jayakumar said "far from undermining Asean,
\n(Singapore's) bilateral free trade agreements (will) drive
\nforward the point that other countries are interested in Asean."<\/p>\n
He noted also that they will "encourage other Asean countries
\nto think in terms of liberalizing their markets" as Singapore is
\ndoing.<\/p>\n
"In fact you'll see now that Thailand is also exploring" the
\npossibility of a free trade agreement with Australia, Jayakumar
\nsaid.<\/p>\n
Singapore is currently negotiating free trade agreements with
\nthe U.S., Japan and Australia.<\/p>\n
Earlier this week, Australian foreign minister Alexander
\nDowner said he hopes to conclude talks with Singapore soon.<\/p>\n
Singapore has long told other Asean member countries that they
\nmust integrate more fully into the global economy if they are to
\ngrow. But many - particularly those with economies much less
\ndeveloped than Singapore's - are hesitant to do so and view a
\ncertain amount of protectionism as prudent.<\/p>\n
However, "at this time, when Asean is going through a
\ndifficult period, it is very important to anchor key countries'
\n(like Japan, the U.S.) interest in the region," said Jayakumar.<\/p>\n
Most of Asean's member countries rely heavily on trade for
\ntheir growth and have suffered as a result of a global slowdown
\nthis year.<\/p>\n
Asean comprises Brunei, Cambodia, Laos, Indonesia, Malaysia,
\nPhilippines, Myanmar, Singapore, Thailand and Vietnam.<\/p>\n
Delegates on Friday concluded a week-long series of talks
\ncovering both economic and security issues in Asia.<\/p>",
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"sponsor": "Okusi Associates",
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