ASEAN may expand AFTA

ASEAN may expand AFTA

JAKARTA (JP): Representatives of the Association of Southeast
Asian Nations (ASEAN), Australia and New Zealand have met to
explore the possibility of establishing a free trade zone.

The ASEAN Secretariat said the representatives discussed on
Wednesday the potential benefits and costs of linking the ASEAN
Free Trade Area (AFTA) with the Australia-New Zealand Closer
Economic Relations (CER) to form a single free trade zone.

According to a study conducted by the Canberra-based Center
for International Economics, the AFTA-CER linkage would create a
market of 523 million people with a combined gross domestic
product of US$1.2 trillion.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia,
Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Australia was represented by Tim Fischer, a member of the
Australian Parliament, and New Zealand was represented by William
Birch. The meeting was chaired by former Philippine prime
minister Cesar Virata.

The representatives agreed to meet again on April 27 and April
28 in New Zealand.(hen)