Thailand, Japan to form trade pact<\/p>\n
Associated Press, Bangkok<\/p>\n
Thailand and Japan agreed in principle Friday to create a free
\ntrade area within one year, a Thai government spokesman said.<\/p>\n
The agreement was reached during 45-minute talks between
\nvisiting Japanese Prime Minister Junichiro Koizumi and his Thai
\ncounterpart, Thaksin Shinawatra. Koizumi arrived earlier in the
\nday on a two-day official visit.<\/p>\n
Government's spokesman Yongyut Tiyapairat said the
\ncooperation, under the name Closer Economic Partnership, would
\ncover all areas of trade and investments between the two nations.
\nMany goods would also enjoy lower tariffs and non-trade barriers.<\/p>\n
The free trade proposal would apparently bolster Japan's
\nstanding in the region following the November signing of an
\nagreement to set up a free trade zone between Southeast Asian
\ncountries and China.<\/p>\n
\"We will soon extend our cooperation to the whole region. That
\nsimply means we have to work harder,\" Yongyut told a news
\nconference. He said a working group will go to Japan to discuss
\nthe guidelines for the free trade area. He said no dates have
\nbeen set.<\/p>\n
Thailand is the second country after Singapore to agree on a
\nfree trade area with Japan.<\/p>\n
It is Koizumi's first visit to Thailand since taking office in
\nApril. He is on the third leg of a five-nation tour of Southeast
\nAsia, designed to galvanize ties with the region.<\/p>\n
He has already made stops in the Philippines and Malaysia, and
\nafter Thailand, will visit Indonesia and Singapore. The other
\nmembers of Asean are Brunei, Cambodia, Laos, Myanmar and Vietnam.<\/p>",
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