ASEAN to look into free trade pact with EU
ASEAN to look into free trade pact with EU
Agence France-Presse, Hanoi
Economic ministers from Southeast Asian nations ended a meeting
in Vietnam on Wednesday agreeing to study a potential free trade
agreement (FTA) with the European Union, a joint statement said.
Ministers or senior officials from the 10 ASEAN countries met
EU Trade Commissioner Peter Mandelson in Halong city 170
kilometers (more than 100 miles) east of Hanoi on Wednesday after
talks among themselves the previous day.
The ministers discussed implementation of the "Trans-Regional
EU-ASEAN Trade Initiative" and told Mandelson of its value in
promoting regional integration as well as for "greater
understanding between the two regions.
"These are important components not only in integrating ASEAN
member countries but also in fostering ASEAN-EU economic
cooperation, which would pave the way towards a closer ...
partnership," the statement said.
Mandelson for his part briefed the ASEAN ministers on the new
EU generalized system of preferences but said that "because of
some sensitivities, especially in the textile sector, the process
has been delayed," it noted.
The European Union has been considering the launch of an
investigation into soaring Chinese clothing imports after the
ending of a global quota system on Jan. 1, while France has urged
more immediate measures to protect European textile producers.
The European Commission, while facing pressure from the
textile industry to act against Chinese imports, Brussels is wary
of not moving too quickly for fear of stirring up a painful
dispute at the World Trade Organization (WTO).
On Tuesday, the Southeast Asian ministers discussed
implementation of the ASEAN Framework Agreement for the
Integration of Priority Sectors.
Under it, measures are identified to enable the integration of
agro-based products, air travel, automotive, e-ASEAN,
electronics, fisheries, healthcare, rubber-based products,
textile and clothing, tourism, and wood-based products.
The ministers also broached issues regarding economic co-
operation with non-block members namely China, Japan, South
Korea, India, Australia and New Zealand to establish FTAs.
They noted that the region should examine the possible impacts
of FTAs on integration plans and set up effective coordination to
safeguard the interests of all members, especially the less
advanced ones -- Vietnam, Laos, Cambodia and Myanmar.
The ASEAN-China accord signed at the Vientiane summit in
December will start on July 1.
The two sides will have to start cutting tariffs on certain
types of goods to between zero and five percent by 2010 for
Southeast Asia's six more economically advanced members and by
2015 for Laos, Vietnam, Cambodia and Myanmar.